President Obama shines at final White House dinner after slicing U.S. deficit

U.S. deficit shrinks by $1 trillion under Obama

Obama cuts deficit one trillion dollars?

Mass Appeal Wire Reports

WASHINGTON — A recent Bloomberg Politics Poll found that 73% of the public believed the national deficit increased under President Barack Obama’s watch. Congressional Republicans, Tea Party members and Conservatives also agreed that Obama and rival Democrats weren’t doing enough address the “out of control” deficit. Turns out everybody might be wrong. According to Steve Benen’s report on NBC,  the deficit has shrunk by a whopping $1 trillion during the Obama era which, if true, would make the Commander-in-Chief the first ever to do so. Again, we’re talking deficit not debt. Big difference.

Looking at percentages as it relates to the U.S. economy, the deficit has been chopped down to roughly 2.5%, well below the average for the past half-century and down from 9.8% when Obama originally took office. Strong growth in individual tax collection played a major role in slicing the deficit.

For the fiscal year that concluded last September, the shortfall was $439 billion which equates to a decrease of 9%, or $44 billion, from last year. The deficit is also the lowest of Obama’s presidency and the smallest since 2007 (in both dollar terms and as a percentage of gross domestic product).

White House Correspondents’ Dinner: President Obama delivered an epic stand-up performance over the weekend at his 8th and final White House Correspondents’ Dinner. During his opening remarks, the Comedian-in-Chief apologized to the audience for being late on CPT time which, according to him, is an acronym that stands for “jokes that white people should not make.” The president is also looking forward to making “some serious Tubmans” next year when he’s out of office.

Watch Obama’s standup. Share your thoughts below.

10 comments

  1. Ambassador of Truth

    Right and left-wingers barely understand.

  2. All Presidents since independence, starting from George Washington up to George Bush JR. borrowed the same amount as Obama did all by himself in the last eight years of his administration (with Republican collusion). He is BORROWING money at a LESSER rate than he did when when he first came into office in 2008, but ,Ideally, No government should be borrowing ANYTHING at all, unless it can be justified for time of war, like we did for WW2 ( or else we`d all be speaking German today). The National debt has ballooned under Obama from 10.5 trillion to 19.5 trillion . Don’t take my word for it: look this up.

  3. Far West Atheist

    The tragedy is he spent even more than W on “defense”. Can we talk about that? HELLO? CAN WE TALK ABOUT THE DEFENSE BUDGET?

    Can someone please explain to me how lowering the deficit while shitting out trillions a year to the military industrial complex is a good thing? Maybe I’m just fucking clueless.

  4. How much are we currently over spending? That’s all that matters.

  5. Whenever I hear someone complain that Obama hasn’t accomplished anything during his presidency, I automatically think they’re dumb as rocks.

  6. Mephistahpheles

    @RosieVintage: Not necessarily “dumb as rocks”.
    They could also be self centered a-holes, trying to perpetuate the myth for their own self interest….ya know, like the Koch bro’s, Mich McConelle, Bush, etc. etc.
    Fortunately, for them, they can count on a large base of rocks.
    Unfortunate for the country.

  7. BringBackClinton

    Obama hasnt done shit for blacks

  8. I smell bullshit in this article….. Obama fucked up a great country. Only Trump can save us now.

  9. haters will hate………..i luv my president !!! 🙂 🙂 🙂

  10. Rusty Shackleford

    Debt – “something, typically money, that is owed or due.”

    This is a more important definition for people to understand.

    Deficit – “borrowing money because the country is not producing more then it consumes”.

    America should have no deficit, and even George Bush’s highest deficit was lower then Obama’s lowest. The debt has doubled from 10 to 19 trillion in 8 years. On average the deficit is easily 1.2 trillion each year under Obama to rack up what he has. That means Obama’s budget is 1.2 trillion dollars over what he was suppose to spend each year on average. Over 200 billion each year goes straight to programs to help the illegal immigrants, that is a massive chunk of this debt.

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