Real Science

The Obama Balanced Budget

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In 2008 Obama complained about Bush increasing the debt by $3 trillion, and promised to restore fiscal discipline.

http://moveleft.org/obamas_promises/www-barackobama-com_issues_fiscal.pdf

Instead, he tripled the deficit and has accumulated three times as much debt in six years as Bush did in eight. Obama’s smallest deficit is larger than Bush’ largest.

But it is worse than it seems. Obama’s original claim was also a lie – according to the White House Budget Office, Bush increased the debt by $2 trillion, not $3 trillion. Obama has increased it by $6 trillion so far.

Table 1.1—Summary of Receipts, Outlays, and Surpluses or Deficits (-): 1789–2020

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