How the Fox & GOTP Lies about National Debt & Deficits;

A Grand Old Tea Party friend of mine intentionally confronts me with Fox News and Gibson stuff. The kidding does not bother me but the fact that he really believes it, does. The confusion intentionally spread by, Fox News, the TEA Party & GOBP often confuse “National Debt” and “deficit”. That repeated confusion may be affecting this election.

Here are the actual facts. I will include reliable source references at the end.

1. The National Dept., comprised of all money the USA owes and is the accumulation of the deficits that are budgeted and incurred each Federal Fiscal year is: 12.4 Trillion. When President Bush started the National Dept was 5.7 Trillion dollars with Clinton budgets having surpluses so that the National Dept was going down.

2. The Deficit is the amount spent or budgeted to be spent over the expected revenues. Each budget year has its own deficit (or under President Clinton – a surplus. )

a. Fiscal Year 2009 President Bush’s last budget 1.7 Trillion
b. Fiscal Year 2010 President Obama’s first budget 1.3 Trillion
NOTE: a. President’ Bush’s last budget had the largest deficit in History!

b. President Obama reduced the budget and spent less than Bush did in his first year in office.,

So, when your right wing friends state that Obama had a “ Trillion dollar deficit” as my friend did - the answer was YES - but it was still 400 Billion less than Bush’s. Like my friend and Fox News – the facts don’t keep them from stating facts that don’t exist, but you will feel better and there may be other people that will listen.

References:

http://www.treasurydirect.gov/govt/reports/pd/mspd/mspd.htm
http://useconomy.about.com/od/fiscalpolicy/p/US_Debt.htm
http://en.wikipedia.org/w/index.php?title=National_debt_by_U.S

See Chart below showing:

Biggest deficit spenders and National Debt builders since Presidents Truman and Roosevelt both of whom had to pay for WW II

Ronald Reagan
George Bush
George W. Bush