SOTU FACT CHECK: SPENDING – DEFICITS
Obama Has Presided Over The Five Highest Deficits In U.S. History. (Office Of Management And Budget, Accessed 1/20/14)
- Obama’s Lowest Budget Deficit Was Still $184 Billion Higher Than The Next Highest Deficit. (Office Of Management And Budget, Accessed 1/20/13; “Monthly Treasury Statement,” U.S. Department Of The Treasury Bureau Of The Fiscal Service, 1/12/14)
“All The Trillion-Dollar Deficits Have Taken Place Under President Obama.” “The federal government ran up a $293 billion deficit in the first quarter of fiscal 2013, which ended Dec. 31, the nonpartisan Congressional Budget Office estimated Tuesday. The government’s fiscal year starts on Oct. 1st. At this pace, the deficit would be on pace to top $1 trillion for the fifth-straight year in 2013. All the trillion-dollar deficits have taken place under President Obama.” (Eric Wasson, “First-Quarter Deficit Was $293 Billion, CBO Says,” The Hill, 1/8/13)
CBO: “Between 2009 And 2012, The Federal Government Recorded The Largest Budget Deficits Relative To The Size Of The Economy Since 1946.” (Congressional Budget Office, 6/21/13)