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More Good News: CBO Reports Deficit is down another $200 Billion

Matching the good news on the Jobs numbers along with the report that the Obama Administration just took in a record $181 Million in donations in September, the CBO - at the close of FY2012 - is reporting that the Federal Deficit has dropped another $200 Billion to a level of $1.1 Trillion - which is the lowest level it has been since 2008 when the Financial Crisis began.

[quote]The federal government’s fiscal year 2012 has come to a close, and CBO estimates that the federal budget deficit for the year was about $1.1 trillion, approximately $200 billion lower than the shortfall recorded in 2011. The 2012 deficit was equal to 7.0 percent of gross domestic product, CBO estimates, down from 8.7 percent in 2011, 9.0 percent in 2010, and 10.1 percent in 2009, but greater than in any other year since 1947. CBO’s deficit estimate is based on data from the Daily Treasury Statements; the Treasury Department will report the actual deficit for fiscal year 2012 later this month.

Yesterday when the BLS reported that unemployment had dropped below 8% for the first time in 43 months, the overwhelming reaction to this clearly good news from those on the Right was It Can't Possibly Be True.

Of course we shouldn't be all that surprised by this Oh-say-it-isn't-SO! reaction by those on the right because not that long ago they were claiming all the Polls were "Skewed" in favor of Democrats. So why wouldn't they believe that the Job Number are "Skewed" too?

They're already living in a non-factual imaginary world of perpetual grievance, why not one more thing to complain about when the world doesn't fit your looking glass?

I suspect when (or if) this news about the deficit gets out (I didn't see someone else report it, I just happened to visit the CBO site myself this morning and found it), it will be vigorously denied by the Righties. In fact, I Guarantee that it will because while live tweeting the debate I pointed out that Romney was Lying when he said the President Obama had "doubled the deficit" and noted that the deficit had already been going down when I got this response.

[quote#Obama did NOT Double the Deficit - it's actually come *Down* since Bush left Office #Debate2012

[quote]Just go look at the numbers Bush 2009: $1,413 billion, Obama 2010 FY $1,293 billion, FY 2013*: $901 billion

What I found from the CBO today is actually an improvement over what I posted above.

The MSM doesn't usually post every little report from the CBO - but this one should be pretty easy to do. It's pretty straight-forward and understandable, and not all that "wonky". Particularly when the reason is because - the economy is improving.

See link for much more detail and even more good news:

by Anonymousreply 1710/09/2012


by Anonymousreply 110/06/2012

Under a trillion is important as a talking point. You listening, Joe Biden?

by Anonymousreply 210/06/2012

Ironic because I just read that the Forbes 400 are $200B richer this year.

by Anonymousreply 310/06/2012


by Anonymousreply 410/07/2012

[quote]Under a trillion is important as a talking point. You listening, Joe Biden?

I hope so.

by Anonymousreply 510/07/2012

Good news except for the old gasbag conservative nutjobs and their conspiracy theories that will be tossed around on the news this week.

by Anonymousreply 610/07/2012

[quote]Obama did NOT Double the Deficit - it's actually come *Down* since Bush left Office.

Another right wing talking point against Obama DESTROYED.

by Anonymousreply 710/07/2012

The GOP don't care about facts and data anymore. Facts are their enemy.

by Anonymousreply 810/07/2012

Some idiot reporter on CNN actually said "if we take Romney at his word" instead of doing his JOB and fact checking Mittens, so the MSM doesn't help.

by Anonymousreply 910/07/2012

You cannot take Romney at his word.

He lies daily.

by Anonymousreply 1010/08/2012

Obama needs to stop tempering his achievements with the "I can do better" schpiel and start trumpeting them. He's achieved a lot under very difficult circumstances and he needs to push back against this GOP tide of "you haven't entirely cleaned up our mess yet, boy, and you suck" nonsense.

He needs to come out fighting.

by Anonymousreply 1110/08/2012

But he's BLAAAAAAAACK!!!!!!

by Anonymousreply 1210/08/2012

[quote]He lies daily.

As in all day, every day. Rmoney lies every time that he opens his mouth to speak.

It is easy to win a debate if, as you go along, you just make up all the facts to support whatever you happen to be arguing at the moment.

by Anonymousreply 1310/08/2012

You cannot take away talking point because the truth does not matter to Rethugs.

by Anonymousreply 1410/08/2012


by Anonymousreply 1510/08/2012

Tuesday bump

by Anonymousreply 1610/09/2012

How do we know the report is factual with Obama appointees as heads of the CBO?

by Anonymousreply 1710/09/2012
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