Sorry, Republicans. It looks like President Obama has successfully cleaned up the federal deficit mess left by former President Bush despite your repeated attempts to sabotage him.
Republicans claim to be the party of fiscal responsibility – despite running up record deficits and ballooning the national debt with tax cuts for the rich and never-ending wars. But that title is about to be owned by a Democratic president as Obama is now on track to leave office with a far lower deficit than the $1.4 trillion deficit former President George W. Bush saddled him with after eight long years of one of the most disastrous presidencies in American history.
The last time America cleared the deficit and ran a surplus was during the Clinton Administration, but once Republicans took full control of the government, they quickly squandered that and ran up the debt so high that even Ronald Reagan is spinning in his grave. Seriously, it was the worst deficit hole ever dug. And the GOP’s solution to that was to blame the black guy who took over for Bush.
But change has truly come to America since President Obama took office in January 2009, because ever since then the deficit has gotten smaller and smaller while the economy continues its record recovery, thus proving that Republican rants about a coming fiscal apocalypse were all complete bullshit.
From 2009 to 2013, President Obama slashed the deficit in half from $1.4 trillion to $679 billion.
According to the Congressional Budget Office, the deficit will drop to a projected $426 billion this year and “fiscal year 2015 will mark the sixth consecutive year in which the deficit has declined as a percentage of gross domestic product (GDP) since it peaked in 2009.” And that’s not the best news. President Obama may leave office in 2017, but he will get to set the budget for that year as well, which means he has two more years of deficit slashing left before his White House successor takes over the budget duties.
As long as Republicans stay out of his way, President Obama’s budgets are cutting the deficit and have largely kept it lower than or equal to the average deficit between 1965 and 2014. It’s a monumental achievement considering the mess Republicans left Obama to clean up. By all rights, Republicans who have hysterically claimed that President Obama is growing the deficit should keep their mouths shut out of embarrassment.
So not only has President Obama and the Democrats taken over as the most qualified to handle national security and healthcare, they are reclaiming the title of “fiscal responsibility” as well, which will probably leave Republicans very butt-hurt for decades to come. Of course, if a Republican wins in 2016 you can bet that they will loudly take credit for the deficit being smaller as if they wiped out the whole thing in a single year even though they had nothing to do with the budgets that made it possible.
Ever since he first took office, Republicans have claimed that President Obama is a failure and they have spent every moment since trying to make him fulfill that prophecy. But President Obama has risen above the traitorous sabotage attempts to become one of the greatest leaders America has ever had and a true example of fiscal responsibility.
The bottom line: You lose again, Republicans.