THEN:

In 2004, Obama Said The “Monstrous Federal Deficit” Was “An Enormous Problem.” MODERATOR: “The clock is ticking and that leads to the question about this monstrous federal deficit, is it a problem? Is it a threat to the future of America’s children? Or is it not a problem? Senator Obama?” OBAMA: “I think it’s an enormous problem.”MODERATOR: “What are you going to do specifically either to cut it or to raise, either to stop spending or to raise revenues?” OBAMA: “I think it is an enormous problem; this has been the most fiscally irresponsible administration in certainly my memory. We have gone from trillion dollar surpluses to trillion dollar deficits in the blink of an eye. Not all of those costs are the fault of the administration, obviously 9/11 occurred and the decline in the economy. But what is also true is that it was aided and abetted by a set of fiscal policies that I think were on the wrong course.” (Sen. Barack Obama, Illinois Senate Debate, 10/12/04)

• In 2004, The Deficit Was $413 Billion. “Democrats are blaming President Bush for the record 2004 federal deficit of $413 billion, but Republicans say the figure shows that the economic and budget pictures are brightening.” (“Government Says 2004 Deficit Was Record $413 Billion,” The Associated Press, 10/14/04)

NOW:

President Obama Has Racked Up The Three Largest Deficits In U.S. History. “The U.S budget deficit for fiscal year 2011 is $1.299 trillion, the second largest shortfall in history. The nation only ran a larger deficit for the 2009 fiscal year, which included the dramatic collapse of financial markets and a huge bailout effort by the government.” (Erik Wasson, “Treasury Announces 2011 Deficit Is Second Highest In History,” The Hill’s “On The Money”, 10/14/11)

• FY2009: The Federal Budget Deficit Was $1.413 Trillion, The Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
• FY2011: The Federal Budget Deficit Was $1.299 Trillion, The Second Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
• FY2010: The Federal Budget Deficit Was $1.294 Trillion, The Third Highest In U.S. History. (“Monthly Budget Review: November 2011,” Congressional Budget Office, 11/7/11)
• The CBO Projects The Deficit At The End Of Obama’s First Term Will Be $1.253 Trillion, Obama’s Fourth Straight Trillion Deficit. (“An Anlysis Of The President’s 2013 Budget,” Congressional Budget Office, 3/16/12)

According To A CBO Report, Obama’s Policies Will Result in $6.4 Trillion In Deficits In The Next Ten Years. “The Congressional Budget Office said Friday that President Barack Obama’s tax and spending policies will yield $6.4 trillion in deficits over the next decade, more than double the shortfall in CBO’s own fiscal baseline - even after taking credit for reduced war costs.” (David Rogers, “CBO: Exploding Debt Under Obama,” Politico, 3/16/12)