Spending, Taxes and Deficits are all down…
Think Progress has raised an interesting issue:
“Inconvenient though it may be for conservatives (especially those who are running for president), the truth is that spending, taxes and the deficit are all lower today than when President Obama took office.”
“In January 2009, before President Obama had even taken the oath of office, annual spending was set to total 24.9 percent of gross domestic product. Total spending this year, fiscal year 2012, is expected to top out at 23.4 percent of GDP.
“Here’s another interesting fact. Taxes today are lower than they were on inauguration day 2009. Back in January 2009, the CBO projected that total federal tax revenue that year would amount to 16.5 percent of GDP. This year? 15.8 percent.
“One last nugget. The deficit this year is going to be lower than what it was on the day President Obama took office. Back then, the CBO said the 2009 deficit would be 8.3 percent of GDP. This year’s deficit is expected to come in at 7.6 percent.”
So when Romney says all this stuff is going up, up, up… then we should show him our thumbs are down, down down.
Gosh, I wish I was a multi-billion-dollar Super Pac so I could match liars like Crossroads dollar-for-dollar with ads that tell the truth. What I’ve got, however, is this little blog and a growing quantity of thinking readers, many of whom are passing the word around.
Posted on May 17, 2012, in Announcement, blogs, budget, Business, campaign, editorial, election, Finance, government, history, Internet, Lies, News, Opinion, Politics, President Obama, quote, Taxes, Word from Bill. Bookmark the permalink. Comments Off on Spending, Taxes and Deficits are all down….