In yet another campaign speech, President Obama recently stated that our oil production has increased to record levels, implying that he is responsible for that. The reality is that oil production on federal land, which is the only one he controls, is down substantially because he refuses to allow new drilling. But again he takes credit for something he actually is hurting.
In addition, the president continues to state that the annual deficit will be cut in half this year, and he takes credit for it. There are two explanations for the reduction. The first is that he has increased the deficit to over a trillion dollars every year of his first term. So mathematically his basis for comparison is the outrageous deficits he created. Plus the projected $600 billion-plus deficit this year is still the highest of any president's in the history of the U.S. other than his own.
The second reason is the impact that sequestration has had on reducing expenses, which he opposed. He is getting help from an action he was against.
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