Obama???
Out of context: Reply #67
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- monolith0
Oh oh.. another Republican talking point down the drain.. LOVE IT..
US deficit down $207B and going down
The Congressional Budget Office has released its estimate for the fiscal year 2012, just ended on September 30 and the news is good. The federal deficit was just under $1.1 trillion, compared to just under $1.3 trillion at the end of fiscal year 2011, a reduction of $207 billion. As a percentage of the GDP, the 2012 deficit dropped to 7.0 per cent, down from 8.7 percent in 2011 and 9.0 percent in 2010. The actual deficit numbers will be released later this month by the Treasury Department
The September 2012 numbers show an increase in receipts of about $23 billion, or 9% higher than the same period a year ago and a decrease of $115 billion in spending.Coupled with the recent good news of unemployment falling to 7.8%, its lowest level in four years, this is proof positive that the policies initiated by the Obama administration, despite the most obstructionist Congress in living memory, are working. Furthermore, the CBO has released the estimate for the effects of enacting Obama’s budget proposal for 2013 and found that, if enacted, the deficit would shrink to $977 billion, or 6.1 percent of the GDP, a full 2 percentage points below that of 2012 and effectively halving the budget deficit inherited when Obama took office.