Fact check this. Huge lie from Clinton today about deficits.
Pb stop being selective with your inflation from bs Clinton controlled sites.
Debt – The federal debt has more than doubled under Obama.
As of Oct. 4, the U.S. government’s
debt owed to the publicwas well over $14 trillion, an increase of nearly 125 percent since Obama first took office.
The debt also has grown dramatically even when measured as a percentage of the growing economy, from
52 percent of gross domestic product at the end of fiscal year 2009 to an estimated 76.6 percent as of the end of fiscal year 2016 on Sept. 30, according to the
most recent estimate, published
Aug. 23, by the nonpartisan Congressional Budget Office.
Deficits – Annual federal deficits hit
$1.4 trillion in fiscal year 2009. As
we’ve documented elsewhere, Obama inherited most of that deficit and signed spending measures that contributed, at most, $203 billion to FY 2009’s red ink.
After that, the
yearly deficits declined markedly for several years. In fiscal year 2015, the deficit was $438 billion, a drop of 69 percent from FY 2009.
But deficits are again on the rise. CBO
estimated most recently that the deficit for FY 2016 will increase to $588 billion by the time the Treasury Department completes a full accounting later this month. And without further cuts in spending or increases in revenue, Obama will leave his successor with rising debt and deficits.
CBO projects that under current law, annual deficits will again hit $1 trillion in 2024 and beyond. As things stand, federal debt owed to the public will reach over 80 percent of GDP in 2022, and nearly 86 percent in 2026, CBO projects.
