|Super Deficit Reducer|
You'd never know this fact if all you listened to was the Chicken Little, sky is falling crowd, of Faux Gnus. And if all you listened to was the Nixon aide, turned right-wing propaganda huckster, Roger Ailes's, fact free network, you certainly would not be aware that President Obama's deficit reduction results would be even greater if the obstructionist Congress would allow the President to remove the biggest single contributors to today's yearly deficits, namely the George W. Bush era tax give-a-ways to the rich.
Republicans ran the economy over a cliff, put in place spending and tax policies that exploded the debt, and then after America elected Barack Obama as President, engaged in unprecedented obstructionism all the while crying that President Obama is not fixing their catastrophic failures quickly enough.
Most amazing in all this, is that on a political level, the Republican Party and Faux Gnus has succeeded. Most Americans are not aware that President Obama's economic policies have actually shrunk the yearly deficit both in raw numbers, and in relation to GDP, the only true way to examine the size of the national debt from administration to administration.
In the fiscal year 2008-2009, the last year of George W. Bush's budgets, the yearly deficit was $1.4 trillion dollars. According to the Congressional Budget Office (CBO) the upcoming 2014 deficit will : "shrink this year to $845 billion, or 5.3 percent of gross domestic product (GDP), its smallest size since 2008."
Steve Benen of the Maddow Blog, notes that this is the fastest deficit reduction since the end of World War II and at the same time resulted in the strongest job creation in 8 years.
For the math impaired Republican Party and their hair on fire friends at Faux Gnus that is a reduction of $555 billion or a reduction of 40%. In raw numbers, -the misleading numbers that Faux Gnus uses- this is more deficit reduction than all other presidents in history combined.
Adversity presents opportunity, and President Obama, like every other Democratic President was presented with the opportunity to fix a failed economy from his Republican predecessor. President Obama has achieved historic accomplishment because in part he was presented with a a failure of epic proportions.
Republican criticism of the President is nothing more than they wishing to be the hero of their own self inflicted disaster.