Budget 2011: Past Deficits vs. Obama’s Deficits in Pictures

Conn Carroll / February 05, 2010

UPDATE: This graph is now over one year old. For up to date information see this post: The Truth about Obama’s Budget Deficits, in Pictures

UPDATE: Chart revised 5/14/2010

Releasing his budget this Monday, President Barack Obama told the American people:

We won’t be able to bring down this deficit overnight, given that the recovery is still taking hold and families across the country still need help. … Just as it would be a terrible mistake to borrow against our children’s future to pay our way today, it would be equally wrong to neglect their future by failing to invest in areas that will determine our economic success in this new century.

But not only does President Obama’s budget fail to reduce deficits “overnight”, his budget actually moves them in the opposite direction. President Obama’s budget would: (more…)