The Federal Budget Deficit

The final results of the federal government's fiscal year that ended 9/30/14 is not in yet but the Congressional Budget Office announced that the deficit will come in around $506 billion, approximately $170 billion below the previous fiscal years deficit.  Deficit spending continues to come down on a steady basis on the President's watch because of his fiscal policies and determination to have a healthy fiscal federal government.

The projected deficit of $506 billion is down over $900 billion from President George W. Bush's last fiscal year deficit of $1.4 trillion which still stands as the largest single year federal deficit in the history of the United States.  The fact is that over a reasonable time period the federal government has had its best fiscal years by a wide margin under democratic administrations in balancing the federal budget, controlling federal spending, reducing republican deficits, creating surpluses and adding the least to the national debt.

The republican party's trickle down economics of tax breaks for those who need it the least is still a fairy tale because it has no economic value for the peopoe who actually move the economy.  The Reagan tax cut started the stampeed of transferring wealth from the middle class to the wealthy and the Bush 43 tax cuts finished the job with the second great republican depression and record job losses.  Those two Presidents never had control over deficit spending and never balanced one budget in the 16 years they ran the country.

The readers of "PolitiDose" knew the federal deficit would come down on President Obama's watch because the record is clear what party performs best for the country and its people and they read it here first in "PolitiDose" your daily dose of political commentary.


This commentary written by John Lucia.