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March 7, at am.

Sep 01, Obama says he has cut national deficit in half.

Social Security Administration.

InPolitiFact twice rated True claims that President Barack Obama failed to keep a promise to cut federal deficits in half by the end of his. Dec 03, As you can see, what Obama actually did since he took office was to triple the deficit, not cut it in half.

For yearthe CBO puts the deficit atbillion, which is stillbillion more of a deficit than the worst year under Bush. So what Obama means when he says, “since I took office, we have now cut our deficits by more than half” is that his Estimated Reading Time: 9 mins.

Before Obama, America had never witnessed a deficit of 1 trillion or more. Since Obama, America suffered four consecutive years in excess of that amount. His deficit reachedtrillion, his number hittrillion and the shortfall wastrillion. The just-completed fiscal deficit came in atbillion. Thus, the halved deficit over. Mar 04, Back inshortly after he was inaugurated, Obama did promise to cut the deficit in half by the end of his first term. He has not been able to keep that promise, however.

Obama said recently. Dec 08, Annual budget deficits, which represent the federal government’s spending in excess of revenue, have begun to rise for the first time in seven years, dating back to President Obama inherited a deficit oftrillion when he took office at the end of the Great Recession.

The first chart shows that deficits began to shrink as the economy slowly Estimated Reading Time: 2 mins. Oct 19, Fact-Check: No, President Barack Obama Did Not Cut the Deficit by Two-Thirds. Fact-Check: Yes, Most of the Economic Gains Under Barack Obama ‘Have Gone to the Very.

During the third presidential debate, Hillary Clinton praised President Obama’s economic performance, adding: “He has cut the deficit by two-thirds.”. About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy & Safety How YouTube works Test new features Press Copyright Contact us Creators.

Mar 21, FY Congress addedbillion from Obama's Economic Stimulus Act to Bush’s last budget after Obama took office. This emergency funding was to stop the Great Recession. Thatbillion accrues to Obama, not Bush.   Once thebillion is subtracted from the FY deficit, it means Bush’s true budget deficit wastrillion. President Obama: Bush tax cuts caused deficit. President Obama: Bush tax cuts caused deficit.