The Congressional Budget Office announced that the President's third fiscal year budget came to an end on 9/30/24 and came in with a $1.8 trillion federal deficit. Trump's third fiscal year budget came in with a $3.1 trillion federal deficit on 9/30/20 as a comparison. That $3.1 trillion budget deficit is still a record.
Trump's total fiscal year deficits in his four fiscal years was $7.5 trillion, a record for any four fiscal years. Total deficit spending in Biden's three fiscal years was $4.7 trillion, with one fiscal year yet to go. So, deficit spending continues to be reduced on the democratic watch as of this date. President Obama's last fiscal year deficit was $666 billion and that is what he left the Trump administration. President Trump's last fiscal year deficit was $2.7 trillion and that is what he left the Biden administration.
And if one goes back and checks the CBO's official records you will find that every democratic administration that followed a GOP administration, completed his last fiscal year with a smaller deficit than the GOP administration before left. And the record goes all the way back to the Eisenhower administration. When it comes to reducing deficit spending, democrats can walk the talk. The GOP cannot.
Sadly, the media has never told that story, but PolitiDose commentary has told the story for the past 9 years.
This commentary written by Joe Lorio
