Posted on 10/16/2012 8:14:54 AM PDT by 92nina
Despite President Obamas promise that the deficit would be cut in half by the end of his first term, the CBOs recent report of a $1.1 trillion deficit for FY 2012 will mark the fourth consecutive trillion dollar deficit year under this administration. As election-day nears, President Obamas track record continues to be tarnished with his failure to keep his promises on taxes, healthcare, and now the deficit.
The economic statistics compiled by the CBO reflect the current administrations incompetency in key areas:
|
Before |
Now |
Change |
Long-Term Unemployed1 |
2.7 Million |
4.8 Million |
+78% |
Price of Gas2 |
$1.85 |
$3.85 |
+108% |
“High Unemployment” States3 |
22 |
40 |
+82% |
Misery Index4 |
7.83 |
9.79 |
+25% |
“Typical” Monthly Family Food Cost5 |
$974 |
$1,021 |
+5% |
Median Value of Single-Family Home6 |
$196,600 |
$181,500 |
-8% |
Rate of Mortgage Delinquencies7 |
6.63% |
10.61% |
+60% |
U.S. National Debt8 |
$10.6 Trillion |
$16.2 Trillion |
+53% |
Median Household Income9 |
$54,983 |
$50,964 |
-7% |
Read more: http://atr.org/president-obama-breaks-promise-reduce-deficit-a7251#ixzz29TW6Ugy0
It looks like he intended to increase the deficit not reduce deficit.
He’s done nothing to keep America strong.
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