How can President Obama claim in his last press conference that the U. S. has "shrinking deficits"?
The last I saw the deficit is continuing to soar! Perhaps his is "Political doublespeak" by which he considers simply that the growing National Debt is not growing quite as fast as in some periods of his presidency?
The fiscal deficit for 2014 was estimated to be 486 billion dollars, or 2.8 percent of GDP which is down from the 680 billion deficit of 2013. In 2009, the deficit was 9.8 percent of GDP. Facts are facts.
http://www.bloomberg.com/politics/artic … -no-credit
Nothing has been done to reduce the National Debt. It keeps growing and growing. The trade deficit has been reduced, but we still buy far more than we sell. Taking credit for a "shrinking deficit" is, to me, like saying "things are fine!" Ain't so
The trade deficit has been reduced, but we still buy far more than we sell. Taking credit for a "shrinking deficit" is, to me, like saying "things are fine!" Ain't so. Now we can take credit for things being "less bad"?
The deficit is actually getting smaller, the debt is not. In order to get out of debt, one must eliminate the deficit. It's not 'political doublespeak' it's the equivalent of polishing a turd. We still have a huge growing debt load, but at least we're a little closer to one day getting out of it. Such a process is going to take a long time.
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