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Obama did cut the deficit in half. More than half. At least over the course of his entire presidency, not sure about the first term.

jsight 7y ago
It wasn't by the end of his first term, though, right? Fair point overall, though.
karl11 7y ago
He did, but only after he doubled it his first couple years.
- gnaritas 7y ago
  That's a lie, he was handed a trillion + deficit coming in; which he cut down virtually every year of his presidency.
- bilbo0s 7y ago
  Well, again, in fairness, that was because the global economy had been run into the ground. The situation he stepped into had little to do with him.
  - leereeves 7y ago
    He did vote in favor of the bank bailout (as a Senator) so the large deficit in 2009 did have a little to do with him.
    - bilbo0s 7y ago
      Yes. But that assumes that the global economy had been run into the ground because of the bank bailouts. This is not the case. The situation these leaders were presented with left them with few options. The time to act with complete freedom of movement would have been before the crash. Once the crash happens, your options are severely restricted.
      - leereeves 7y ago
        The bankers who were bailed out were the very people who ran the economy into the ground. The government could have unwound the situation without bailing them out. But the relevant point for this discussion is: that was a one-time event and not a fair comparison with future deficits. Deficits from later years should be compared to 2008 or 2007, or to 2009's budget without the bank bailouts.
m0zg 7y ago
He also nearly doubled the national debt though.
bilbo0s 7y ago
To be clear, when your predecessor is Bush the Lesser, and he has run the global economy into the ground, this is not that difficult a task to accomplish. But yes, Obama at least, moved in the right direction.
leereeves 7y ago
That's using the abnormally large deficit in 2009 caused by the bank bailout as the starting point. The deficits even at the end of his second term were larger than the deficit in 2007 and about the same as 2008. https://www.thebalance.com/us-deficit-by-year-3306306 https://www.thebalance.com/us-deficit-by-year-3306306

jsight 7y ago

It wasn't by the end of his first term, though, right? Fair point overall, though.

karl11 7y ago

He did, but only after he doubled it his first couple years.

gnaritas 7y ago
That's a lie, he was handed a trillion + deficit coming in; which he cut down virtually every year of his presidency.
bilbo0s 7y ago
Well, again, in fairness, that was because the global economy had been run into the ground. The situation he stepped into had little to do with him.
- leereeves 7y ago
  He did vote in favor of the bank bailout (as a Senator) so the large deficit in 2009 did have a little to do with him.
  - bilbo0s 7y ago
    Yes. But that assumes that the global economy had been run into the ground because of the bank bailouts. This is not the case. The situation these leaders were presented with left them with few options. The time to act with complete freedom of movement would have been before the crash. Once the crash happens, your options are severely restricted.
    - leereeves 7y ago
      The bankers who were bailed out were the very people who ran the economy into the ground. The government could have unwound the situation without bailing them out. But the relevant point for this discussion is: that was a one-time event and not a fair comparison with future deficits. Deficits from later years should be compared to 2008 or 2007, or to 2009's budget without the bank bailouts.

m0zg 7y ago

He also nearly doubled the national debt though.

bilbo0s 7y ago

To be clear, when your predecessor is Bush the Lesser, and he has run the global economy into the ground, this is not that difficult a task to accomplish. But yes, Obama at least, moved in the right direction.

leereeves 7y ago

That's using the abnormally large deficit in 2009 caused by the bank bailout as the starting point. The deficits even at the end of his second term were larger than the deficit in 2007 and about the same as 2008. https://www.thebalance.com/us-deficit-by-year-3306306 https://www.thebalance.com/us-deficit-by-year-3306306