It’s Official: 2012 deficit was $1.087T; $1T+ all 4 years of Obama’s 1st term

Deficit after deficit after deficit...a consistent path of DEBT and economic malaise...

CNSNews: The Congressional Budget Office last week released updated historical budget data for the federal government, reporting a deficit of $1.087 trillion in fiscal 2012.

2012 marked the fourth straight year—and the only four years in the history of the nation--when the federal government’s deficit topped $1 trillion.

The deficit has also remained at a higher percentage of GDP over the last four years than at any time since the conclusion of World War II...

President Barack Obama was inaugurated in January 2009, during the fourth month of fiscal 2009, and governed for more than eight months of that fiscal year. In his first full month in office, February 2009 he pushed through a economic stimulus plan that the CBO now says will add $830 billion to the deficit in fiscal year 2009-2019.

In fiscal 2008, the last full year President George W. Bush was in office, the federal deficit was $458.6 billion, according to the CBO.

As a percentage of GDP, the deficits for fiscal years 2009-2012 were greater then the federal deficits in any year since World War II.

In fiscal 2009...the deficit was 9.8 percent of GDP, according to the CBO’s updated figures. In fiscal 2010, it was 8.7 percent of GDP. In fiscal 2011, it was 8.4 percent of GDP. And, in fiscal 2012, it was 6.8 percent of GDP.

What utopia...