Speaking of issues that will work against President Obama in November, this whopper of an announcement was just released: The CBO has projected that the government deficit for February 2012 will be $229 billion, making the FY2012 deficit already more than half a trillion dollars. This is the highest monthly budget deficit in history....
.... These debt figures scream for our leaders to take serious action.
For perspective, please note that under President Bush, the deficit for the entire (fiscal) year of 2007 was "only" $161 Billion.
Total revenue $2.57 trillion Total expenditures $2.73 trillion Deficit $161 billion Debt $8.95 trillion
The deficit for Fiscal Year 2008 (with Democrats in control of the House) ballooned to $459 Billion -- which, as bad as that was, didn't even amount to half a trillion.
Presidents Bush and Obama share responsibility for FY2009, which saw a deficit of more than three times that of the year before: $1,413 Billion ($1.413 Trillion).
The yearly deficits that were enacted soley under Obama have each exceeded a Trillion Dollars:
FY2010: $1.267 Trillion
FY2011: $1.56 Trillion
FY2012: $1.327 Trillion
Now let's go back to that 2007 Budget.
|Total revenue||$2.57 trillion|
|Total expenditures||$2.73 trillion|
|U.S.National Debt||$8.95 trillion|
Compare to today's National Debt Clock, just minutes ago:
and on this same date (3/9) four years ago (2008):
and four years before that, March 9, 2004:
And one last depressing thing, derived from that mesmerizing debt clock and its mind-boggling "Time Machine" feature. On this date in 2004, the Small Business Assets of the country amounted to $4.337 Trillion. By March 9, 2008, SB Assets had grown to $6.935 Trillion. In other words, small business assets INCREASED by about 60 percent during the second Bush administration (approximate, March to March instead of Jan. to Jan.).
Compare to the Obama years (from March 9, 2008 - March 9, 2012), during which Small Business Assets DECREASED by about 10 pct -- from that $6.935 Trillion to $6.236 Trillion.
Ugh, I have to stop this. We still have 242 days to go until we can vote Obama Out and 317 days until we inaugurate a New President.