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White House: $1.2 Trillion Deficit in 2012

americathebeautiful Wrote: Jul 28, 2012 8:45 AM
Don't you guys get it. That damn illiterate, crass, moron, lawless and corrupt obama knows NOTHING about economics and HE COULD CARE LESS ABOUT IT TOO. You can bet on it, because obama is just a lousy POS corrupt community organizer, he can live in debt up to his eyeballs and THAT is normal for him. I am certain that his personal credit score is horrific and abominable - it likely doesn't go over 500.

Just so you know, this deficit is totally out of context and was certainly not built by President Obama:

The Obama administration projects a budget deficit of $1.211 trillion this year, though that is $116 billion lower than an estimate released earlier in the year. "This reflects lower-than-expected spending, partially offset by lower-than-expected receipts," Budget Director Jeffrey Zients wrote on the White House website. In unveiling the administration's midyear budget review, Zients reported that this year's deficit is estimated to be 7.8% of Gross Domestic Product. That is less than the 8.5% projected in a...