Short version: use this image against would-be Democratic deficit busters.
Longer version: the White House is trying to have its own facts, again. At issue is their recent attempt to brag that the deficit for 2014 has been reduced to a ‘mere’ 2.8% of GDP. As Twitchy ably notes/rebutted in response, that would be great, except for two minor little problems:
- The debt is still spiraling out of control; and
- As the Washington Times put it, back in October: “The deficit has indeed declined, but from the $1.4 trillion peak achieved in Mr. Obama’s stimulus-fueled first year in office. He can hardly celebrate cutting in half what he first tripled.*”
That’s an important point: you see, if you actually go look at the CBO numbers (Table 1.2, to be specific) that Barack Obama’s crack team of meme generators abused, you’ll see that in 2008 the deficit percentage was 3.1% and in 2007 it was 1.1%. Which is another way of saying that since 2007 Barack Obama and the Democratic party has engaged in an unholy orgy of deficit spending that horribly accelerated once they took full power – and that we’re STILL trying to dig ourselves out of.
Hence the above image, which was modified from the false agitprop that the White House is trying to peddle. Hey: let’s not let the Democrats have this one, OK? – Because they really enjoyed having their hands on all of our wallets, and would like to go back to those marvelous, marvelous days.
Moe Lane (crosspost)
*Note that they were referring to the 2013 numbers in that statement. Also note that the reduction in deficit percentage of GDP really got started after the grownups took the House of Representatives back over in 2010.