The deficit itself was cut by $800 billion dollars. Has this caused your suffering?
Please explain the “The deficit itself was cut by $800 billion dollars. Has this caused your suffering?"
President Obama started in office with $10,626,877,048,913.00 of debt and ended with $19,947,304,555,212.00. Meaning the deficit was increased by $9,320,427,506,299.00. https://www.treasurydirect.gov/NP/debt/current
This means President Obama barrowed and spent over three billion dollars more than he was taking in tax revenue every day he was in office. How can you claim that he reduced the deficit by 800 billion dollars when the U.S. Treasury claims he increased the deficit by over nine trillion dollars? Which means that the working person’s share of the national debt increased by $29,266.80 during President Obama’s terms.
I believe that Lois meant the yearly reduction in deficit spending, not the National debt.
Deficit, noun,
•an excess of expenditure or liabilities over income or assets in a given period;
"an annual operating deficit" ·
Yes, thanks, Write4U, i didn't write the piece, which is all over the Internet, but that's probably what the author meant.