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Sep 01, Obama says he has cut national deficit in half. InPolitiFact twice rated True claims that President Barack Obama failed to keep a promise to cut federal deficits in half.

The change meant Obama had to negotiate with the lame duck Congress.

Dec 03, As you can see, what Obama actually did since he took office was to triple the deficit, not cut it in half. For yearthe CBO puts the deficit atbillion, which is stillbillion more of a deficit than the worst year under Bush.

So what Obama means when he says, “since I took office, we have now cut our deficits by more than half” is that his administration tripled the deficit and spent Estimated Reading Time: 9 mins. Before Obama, America had never witnessed a deficit of 1 trillion or more. Since Obama, America suffered four consecutive years in excess of that amount. His deficit reachedtrillion, his number hittrillion and the shortfall wastrillion. The just-completed fiscal deficit came in atbillion.

Thus, the halved deficit over which Obama brags is. Oct 19, Fact-Check: No, President Barack Obama Did Not Cut the Deficit by Two-Thirds. Fact-Check: Yes, Most of the Economic Gains Under Barack Obama ‘Have Gone to the Very. During the third presidential debate, Hillary Clinton praised President Obama’s economic performance, adding: “He has cut the deficit by two-thirds.”.Estimated Reading Time: 1 min.

Feb 22, George Bush was by no means a deficit hawk, but President Obama took Bush’s high-spending ways and ramped them up into overdrive. He doubled the already high Bush deficits before he cut them in half. Dec 08, Annual budget deficits, which represent the federal government’s spending in excess of revenue, have begun to rise for the first time in seven years, dating back to President Obama inherited a deficit oftrillion when he took office at the end of the Great Recession.

The first chart shows that deficits began to shrink as the economy slowly recovered.

As a writer for The Balance, Kimberly provides insight on the state of the present-day economy, as well as past events that have had a lasting impact.

As of the shortfall has. Mar 24, Earlier in the news conference, Obama said he'd cut the deficit in half by the end of his first term. So we'll look at the picture from four and five years out. According to projections in the. Previously I had asked on:How can Obama claim he has" Cut the Deficit in Half",Well, here is how the Math adds up,And how that claim is somewhat President Obama: Bush tax cuts caused deficit.

President Obama: Bush tax cuts caused deficit. Nov 23, But Obama also cut taxes in and In billion were cut as part of the American Recovery and Reinvestment Act.

InObama approved the permanent extension of the Bush tax cuts for those below a certain income level. This was part of the fiscal cliff package.