Brazile deceives about debt reduction
After reading Donna Brazile's recent column about the "national deficit," I continue to be amazed at how politicians and their surrogates (which is what Donna is) on both sides continue to lie, yet continue to be published in papers such as the Daily Herald.
Quote: "Since Obama took office, the national deficit has been reduced by one-half."
She is intentionally deceiving. First, the 2014 projected budget deficit has been reduced from 2013 by 37 percent, so Obama is growing the national deficit slower than in his previous years. Donna knows the difference between a budget deficit and the national deficit. Shame on her.
Yes, for fiscal year 2013, the additional annual budget deficit was "only" $680 billion. For fiscal year 2014, the forecast is only $515 billion more budget deficit. Both of these add to the national deficit.
So maybe those 54 percent who think the deficit has grown under Obama are entirely correct. Here are some facts according to treasurydirect.gov.
The national deficit when George W. Bush took office was $5.727 trillion. When Bush left office, it was $10.566 trillion. So under Bush's watch, the national deficit grew by $4.839 trillion in eight years. Not good.
When Obama took office, the national deficit was $10.566 trillion. As of Feb. 7, the national deficit is $17.258 trillion. So in a little over five years, Obama has grown the national deficit by $6.692 trillion. That is 38 percent more in five years than Bush grew it in eight years and we still have three more years to go under Obama.
Donna is asking us to be excited that we are only going to run up our credit card debt this year by $515 billion as opposed to the $680 billion we ran it up in 2013.
Scott C. Haugh