President Obama stated during his Tuesday night State of the Union Address to the nation, the good times are back for America. This is his last SOTU address to the nation as his term is up later this year. During his oration of his list of achievements he reiterated that he has reduced the federal government deficit by “by two-thirds”.
NOTE: Budget deficits are completely different than the national debt. Deficit is the mathematical difference between tax revenue received compared to what is spent.
His claim that deficits have shrunk under him is completely true. The only problem is, once you start looking at the actual number of the deficits……it is completely unsustainable for even the next ten years down the road. Here is a list of his deficits since he has been in office:
2015: $439 Billion
2014: $484 Billion
2013: $679 Billion
2012: $1.087 Trillion
2011: $1.299 Trillion
2010: $1.294 Trillion
2009: $1.412 Trillion
The political conversation in this country has changed dramatically under this President in not talking actual numbers relating to our federal budget. The actual federal budget process hasn’t even been followed since 2009. Spending is not debated and just a series of temporary spending plans are passed in a hurried fashion because claims of economic armageddon are claimed if Congress doesn’t pass some sort of spending plan.
Brushing away the deficits as no big deal is an option. Reality is actual money is borrowed for these deficits……someone has to pay that at a later date.