Monday, April 1, 2013

The truth deficit

Did you know that the federal deficit has TRIPLED under Barack Obama?

APRIL FOOL!

If you believed that thing about the tripling deficit, you have probably been getting your information from certain mainstream media sources or from spokesmen (always men) for the Republican Party. The truth is quite the opposite.

In fact, since Barack Obama took office in 2009 the federal budget deficit has DECREASED from $1,413,000,000 to $845,000,000, a reduction of some 40%. If you look at the reduction in relation to its percentage of the GDP, the picture becomes even more dramatic. That decrease is almost one-half! 

A chart from the website Daily Kos puts it all into perspective.


Most reputable economists say that the budget deficit is less of a short-term problem for our economy than the deficit in jobs, that it would make sense to spend money now to create more jobs and boost the economy. But the deficit scolds keep screaming, "Deficit bad! Deficit going to destroy civilization!" They keep insisting that the deficit is going up, up, up!

What we really have here is a truth deficit. The truth is that in the past four years, the federal budget deficit has DECLINED at a faster rate than at any time in our history. But don't expect to hear that on the evening newscast.

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