President Obama Breaks Promise to Reduce Deficit

Posted by Rhett Brooks on Tuesday, October 16th, 2012, 9:06 AM PERMALINK

Despite President Obama’s promise that the deficit would be cut in half by the end of his first term, the CBO’s 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 Obama’s 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 administration’s incompetency in key areas:






 Long-Term Unemployed1

 2.7 Million

4.8 Million 


 Price of Gas2




 “High Unemployment” States3




 Misery Index4




 “Typical” Monthly Family Food Cost5




 Median Value of Single-Family Home6




 Rate of Mortgage Delinquencies7




 U.S. National Debt8

 $10.6 Trillion

 $16.2 Trillion


 Median Household Income9





More from Americans for Tax Reform