Obama Drops a Truth Bomb On The GOP, “Since I Took Office We’ve Cut The Deficit By 2/3.”

obama speaking about budget homeland security

President Obama took out one of the biggest myths about his presidency while discussing his 2016 budget. The president took aim at Republican distortions by saying, “Since I took office, we’ve cut the deficit by about two-thirds.”

While delivering remarks on his budget at the Department of Homeland Security, the president said, “Since I took office we’ve cut the deficit by about two-thirds. I am going to repeat that, as I always do when I mention this fact, because the public often times if you ask them thinks that the deficit has shot up. Since I took office, we have cut our deficits by about two-thirds. That’s the fastest period of sustained deficit reduction since after the demobilization at the end of World War II. So we can afford to make these investments while remaining fiscally responsible….We’ve just got to be smarter about how we pay for our priorities, and that’s what my budget does.”

The president has made similar claims about reducing the deficit over the past year, and PolitiFact has rated the rated the president’s statements as true. In September 2014, the fact checker examined President Obama’s statement that he had nearly cut the deficit in half, “The numbers back up Obama’s claim: Thanks to income tax revenues rising and spending on emergency assistance dropping, America’s deficit has fallen by more than 50 percent from its highest point since World War II to a level $733 billion lower.”

The numbers have continued to improve since the FactCheck analysis. A week ago, it was announced that the budget deficit had reached its lowest point since President Obama took office.

Congressional Republicans continue to pretend like the country is mired in deficit and can’t afford to spend. The reality is that the Republican-backed cuts would do more to strangle economic growth than to launch an economic boom. Obama isn’t calling for a massive spending program. His budget is advocating a complete reversal of the sequester cuts.

For Republicans, the budget isn’t about fiscal policy and economics. To conservatives, the budget is an ideological statement. It doesn’t matter to them what the country or the economy needs. They are beholden to an ideology of dismantling the federal government. The Republicans cries of, “we can’t afford it” have everything to do with an ideological agenda that has a proven history of economic destruction.

It is good to see this president taking credit for what his occurred during his presidency. It is even more important that he pushes back every single day against Republican myths. The president gets it, and he is going to fight back against the baseless claims of his critics with the facts.

21 Replies to “Obama Drops a Truth Bomb On The GOP, “Since I Took Office We’ve Cut The Deficit By 2/3.””

  1. Why the hell he and his machine have not been screaming this and every other great thing he’s accomplished from the rooftops is beyond me. Sure we all know this but the freaks who inhabit the other side of the aisle don’t. Why not get on Fox and let them have the facts?

  2. he’s been doing that for a long time, the media on the other hand is just focused on his “scandals” instead of his achievements………also the Congressional Dems are cowards for not openly supporting or praising the President……look at what happened in the mid term elections when they refused to have him on there campaigns…….cowards i tell u.

  3. Giving facts to Fox news means nothing they will just twist them and lie about the facts

  4. To the uneducated about debt, which is different from the deficit.

    Here is why the DEBT has increased under President Obama and it wasn’t him that did it.
    Bush used our credit card and HID the both wars TRUE cost. President Obama added that cost to the DEBT where it belonged and also medicare part D and adding to the DEBT.

    US Wars in Afghanistan, Iraq to Cost $6 trillion

    How much did the financial crisis cost us? $12.8 trillion, one group says

    Medicare Part D will add $852 billion to the debt over the next 10 years

  5. And all this:
    March 2008: Bush stimulus $29 billion for Bear Stearns/JP Morgan Chase deal
    May 2008: Bush stimulus $178 billion in tax
    July 2008: Bush stimulus $300 billion for distressed homeowners
    July 2008: Bush stimulus $200 billion for Fannie Mae and Freddie Mac
    September 2008: Bush stimulus $50 billion to guarantee money market funds
    September 2008: Bush stimulus $25 billion to Big 3 automakers
    September-November 2008: Bush stimulus $150 billion to AIG
    October 2008: Bush stimulus $700 billion to banks (TARP)
    Halliburton $37 BILLION

  6. We need the GOP to turn our economy around!! It will take 8 years of Obama to fix their mess and two years of a GOP Congress to screw it all up. History repeats itself.

  7. It is unfortunate the media is not based in fact and will continue not to report this. Who ever said the media has a liberal bias is dead wrong. I also agree with the above posts that the President and all Democrats need to shout this out every day as loud as they can!

  8. The sequestration is responsible for the reduction in deficits, not President Obama. At the same time that he wants to end the sequestration, he’s claiming credit for deficit reductions created by sequestration. Only in America.

  9. “Congressional Republicans continue to pretend like the country is mired in deficit and can’t afford to spend.”

    Forget deficit, our country is mired in debt! Under Obama the national debt as risen from $10.6 trillion to over $17.6 trillion. That’s an *increase* of 2/3.

  10. I will continue to blame the democrats for not taking a stand on the truth about the accomplishments.

  11. And who was responsible for coming up with sequestration to begin with?? Think about that for a bit…

  12. I think I gave you enough time to think about it. Here’s what I mean just in case you didn’t get the gist.
    You’re entire discourse about the sequestration shows you really don’t understand any of it. Who came up with the idea of sequestration? The Obama administration in an effort to cause a consequence to Congress not working together. The only problem is that they didn’t count on the stubborn idiocy of the current right wing to actually implement it.
    So even if you attribute sequestration with the reduction of the deficit, so sorry, it’s still Obama.
    I find it amusing that you are not the only person who thinks sequestration is a republican idea (or a good one perhaps and I guess we can count at least 5 of you)…so I’ll just go ahead and mirror your sentiment…only in America. [WINK]

  13. What about the “repeals” of the ACA and the government shutdown by the most irresponsible and anti-American Congress since the birth of our nation? Oh, wait, we paid for them didn’t we?

    Great posts, both this and yours beneath it. Thanks.

  14. 17 trillion and counting. Too bad he doesn’t worry about the debt for the future as he does global warming.

  15. Lowest spending president since Eisenhower.

    Remember the act of 2010 where he cant spend without offsets ? Of course you dont.

    Take the wars and tax cuts you approved of, that’s your debt. BTW, the president doesnt spend

  16. Well let’s think about it for a minute. When president bush left he had his last budget which added 800 billion as a result of tarp to the overall number. This was a one time deal to bail out Wall Street with loans. The first budget under president obama added 700 billion in one time so stimulus. Why then would his subsequent budgets all be in the same ballpark as his first. In fact spending didn’t drop until the budget deal where automatic cuts kicked in. Bushs budget without TARP was 2.8 billion. Even if you grew gov 10% each year you should have never approached the spending levels under this current administration . So if you increae spending from stimulus and then cut it a bit each year you are not a fiscal genius. Btw its estimated that about 85% of tarp has been repaid. That miney goes in a normal world to the treasury. That should have resulted in significant deficit reduction for the current administration. Yet it never appears on any busget statements. That’s a lot of…

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