Thursday, April 14, 2011

U.S. Achieves Biggest One-Year Deficit Reduction In American History

That's right.  We have achieved the biggest one-year deficit reduction in American history.  Read about it here.
The federal government budget deficit shrank in fiscal 2010, but the big gap was only $122 billion lower than the record high set a year ago.
The U.S. spent $1.294 trillion more than it collected in the fiscal year that ended Sept. 30, the Treasury Department said Friday.
The deficit amounted to 8.9% of gross domestic product. That's down from fiscal 2009, when the deficit of $1.416 trillion was 10.0% of GDP.
Spending fell and revenues rose in fiscal 2010 as the economy recovered from the deep recession that contributed to the nation's troubled fiscal condition.
The republicans and the teabaggers have been yelling about reducing the deficit by $100 billion dollars.  President Obama has already beat that level by 22 billion dollars.  For those of you that are math challenged, Obama has beat the republican's talking point by 22%.

And the best that the Boner can come up with is a measly 352 million.


  1. So the right yells their stupid shit at the left and we on the left pull our hair out over their the end of the day Wall Street waltzes in and gets whatever they want and honestly they don't care about either the left or the right...

    I have to quit reading Matt Taibbi's column in Rolling Stone because it makes me really cyncial!

  2. Jerry, according to Wikipedia, the projected budget deficit for 2011 is 1.65 trillion. I agree with you that Mr. Boehner really needs to bitch-slap that tea party. But, so, too, Mr. Obama just might have to disappoint/frustrate his base (yeah, I know, again). What is it that the "experts" say, a good deal is one in which nobody is happy?

  3. That lofty total is one way to measure deficit reduction to date. I have another way, although it's less concrete: in the yet to be determined number of additional months and years of high unemployment and lagging revenues caused by reducing spending prematurely.

  4. you're a whiz with the numbers Jerry! We can count on you for the facts and figures every time, now contact the president and ask for a job, you deserve the recognition! :-)

  5. Thank you again for giving me material to send to my FOX addicted father. Thank you very much :-)

  6. And then there are those idiots who think the 2009 budget and deficit were Obama's.