One day Republicans might be proficient at handling money, jobs, spending and the American economy in general — but that day is not today.
We are on the way to yet another government shutdown, because it is the only way Republicans know how to do anything else anymore. They will say anything to make you believe that we are in some drastic financial crisis so they can defund the very concept of government in America. Don’t let them get away with it.
Here are some truth bombs to drop on any one of them who try to lie about President Obama and the economy:
4. Obama is doing GREAT with the deficit
The federal government ran a budget deficit of $435 billion fiscal year 2015, CBO estimates—$48 billion less than the shortfall recorded in fiscal year 2014, and the smallest deficit recorded since 2007. Relative to the size of the economy, that deficit—at an estimated 2.4 percent of gross domestic product (GDP)—was slightly below the average experienced over the past 50 years, and 2015 was the sixth consecutive year in which the deficit declined as a percentage of GDP since peaking at 9.8 percent in 2009. By CBO’s estimate, revenues were about 8 percent higher and outlays were about 5 percent higher in 2015 than they were in the previous fiscal year. CBO’s deficit estimate is based on data from the Daily Treasury Statements; the Treasury Department will report the actual deficit for fiscal year 2015 later this month.
3. Obama’s spending increases are some of the lowest in recent history
Factcheck has noted:
But a fact that may surprise Obama’s critics is that Obama’s spending increases have been historically modest — much smaller than his predecessor’s, and well below the rate of inflation. Federal spending in the current fiscal year, which ends this month, is running only 7.9 percent higher than it was when the president took office. This increase is well below the 12 percent rise in the Consumer Price Index, which we’ve mentioned.
But the spending increase under Obama would be even lower — only 5.9 percent — if we used the most recent estimate of the nonpartisan Congressional Budget Office from August 27. CBO puts the current year’s outlays at just over $3.5 trillion. The final, actual spending figures for this year should be announced sometime next month, and we’ll report on them in our next update.
2. Obama did NOT triple the debt like Rand Paul and others claim
Politico fact checked this:
Quite a few readers asked us if the debt has tripled since Obama took office in January 2009. We took a look at the numbers, and it hasn’t. It’s increased about 1.7 times.
1. Jobless claims fell to a near 42 year low after the Department of labor’s latest update
In the week ending October 3, the advance figure for seasonally adjusted initial claims was 263,000, a decrease of 13,000 from the previous week’s revised level. The previous week’s level was revised down by 1,000 from 277,000 to 276,000. The 4-week moving average was 267,500, a decrease of 3,000 from the previous week’s revised average. The previous week’s average was revised down by 250 from 270,750 to 270,500.
As the numbers show, Obama is doing an amazing job being our president. Republicans cared not one bit about bad numbers until Obama took office, and used this as an excuse to block him at every turn. However, for all their shenanigans, when you take into account the amount he has accomplished in addition to the obstruction he faced, he might even be the most successful president in history.
Remind them of this every chance you get.
Featured Image via Flickr