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You are here News Editorials Bruce Enberg: "Børk, Børk, Børk"

Bruce Enberg: "Børk, Børk, Børk"

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Swedish chefYou know how the right has been constantly complaining about Obama's ballooning deficit? They have of course been wrong about that since the day Obama inherited Bush's $1.5t annual deficit and immediately slashed it by getting rid of private crony contractors. There has been a steady decline in budget shortfall ever since, and the latest numbers have set new records.

The deficit for the first half of this fiscal year starting last October 1st was $413b, and this was a decline of $187 billion compared to the same time last year. These numbers were provided by the Treasury Department, so the Right will claim the numbers are fixed. They can't prove that, because math is just voodoo as far as the Right is concerned.

Further more, the deficit for March was only $37 billion, down from $107 billion in March of last year. This particular number was the smallest deficit for the month of March since 2000, (when another Democrat was POTUS).

The deficit is expected to be slightly more than more than 4% of GDP this fiscal year, a drop from a high of almost 10% of the GDP in 2009 at the end of the Bush Adm. This trend shows the deficit falling faster than in any year since the end of World War II, dropping from $1.1 trillion in 2012 to $680 billion. Conservatives had predicted a runaway deficit by this time with interest alone exceeding all possible tax revenue, and of course had Obama been forced to follow Bush's policies this would have come to pass.


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