The Congressional Budget Office (CBO) announced that the federal budget deficit for the first 9 months of the present fiscal year which ends 9/30/14 was $366 billion, down 28% from the first 9 months of the previous fiscal year. It also projected that when the present fiscal year ends the federal budget deficit would be approximately $492 billion, down from last years $680 billion.
It has been pointed out in "PolitiDose" many times how republican administrations increase deficit spending and democratic administrations reduce deficit spending and balance the federal budget. The projected federal deficit of $492 billion at the end of this fiscal year is a far cry from the Bush administrations last fiscal year budget deficit which hit a whooping $1.4 trillion. And that my friends is still the largest single year federal budget deficit in the history of the United States.
Late comer Forbes Magazine has pointed out that federal spending under the Obam administration has had the smallest increases since the Eisenhower administration, and that was over 50 years ago. Readers of "PolitiDose" already knew that because it was reported here long ago. Forbes Magazine is the Corporate America magazine that continues to feed the public inaccurate information on just about anything to do with democratic administrations, but was finally forced to admit the facts.
There have been so many experts who have been so wrong on the economy, job creation, unemployment, federal spending and etc., leave no doubt why the public is so misinformed and why the public needs to check out the facts elsewhere. "PolitiDose" has been in the forefront of doing just that.
This commentary written by John Lucia.
