The news has now come out that the federal deficit has shrunk compared to last year. Increased employment has led to increased government revenues. The argument to make is very simple.
Republican Presidents cause record deficits- Ronald Reagen and George W. Bush
Democratic Presdients shrink the deficit - Bill Clinton and now Barack Obama
The idea that Republicans care about the debt and Democrats don't is the biggest single myth in American politics. Deficits decrease under Democrats because we believe in smart, efficient government.
Its very simple.
A few highlights from the article:
The government's revenue rose as more people got jobs and received income. Corporations also contributed more tax revenue than in 2011. This pushed receipts up to $2.449 trillion in 2012, up 6.4 percent from last year, according to the Treasury Department.
"We are seeing the stimulus spending fading and we are seeing some of the effects of the investment incentives," Lou Crandall, chief economist with Wrightson ICAP, said.
Hmmm.... the stimulus is working? How can that be? All I hear on my tv is Republicans talking about how it failed. There must have been a new tax cut for the wealthy in there somewhere that I missed.
Government spending fell 1.7 percent to $3.5 trillion. The decline reflected, in part, less defense spending as U.S. military involvement in Iraq was winding down.
Wow... so George W. Bush's war of choice added to our deficit? Imagine that. I thought the deficit was all Obama's fault. I could have sworn Obama inherited record surplusses from his predecessor. No..... wait.... that was Bush.
Its very simple and I hope Obama keeps it simple at the next debate:
History shows us if you care about reducing the deficit, then you must vote Democratic!