Three Years of House Dems & Obama’s Broken Deficit Promises

February 23, 2012

FYI, a similar version of this release below went out to the following districts: Jason Altmire (PA-04), John Barrow (GA-12), Sanford Bishop (GA-02), Tim Bishop (NY-01), Leonard Boswell (IA-03), Bruce Braley (IA-01), Lois Capps (CA-24), Russ Carnahan (MO-03), Kathy Castor (FL-11), Ben Chandler (KY-06), David Cicilline (RI-01), Gerry Connolly (VA-11), Jim Cooper (TN-05), Jim Costa (CA-16), Mark Critz (PA-12), Peter DeFazio (OR-04), John Garamendi (CA-03), Raul Grijalva (AZ-07), Brian Higgins (NY-27), Jim Himes (CT-04), Ruben Hinojosa (TX-15), Kathy Hochul (NY-26), Tim Holden (PA-17), Rush Holt (NJ-12), Steve Israel (NY-02), Bill Keating (MA-09), Ron Kind (WI-03), Larry Kissell (NC-08), Rick Larsen (WA-02), David Loebsack (IA-02), Jim Matheson (UT-02), Carolyn McCarthy (NY-04), Mike McIntyre (NC-07), Jerry McNerney (CA-09), Michael Michaud (ME-02), Bill Owens (NY-23), Frank Pallone (NJ-06), Ed Perlmutter (CO-07), Gary Peters (MI-09), Collin Peterson (MN-07), Chellie Pingree (ME-01), Nick Rahall (WV-03), Loretta Sanchez (CA-46), Kurt Schrader (OR-05), Adam Smith (WA-09), Betty Sutton (OH-16), John Tierney (MA-06), Paul Tonko (NY-21), Niki Tsongas (MA-03), Pete Visclosky (IN-01), Tim Walz (MN-01), John Yarmuth (KY-03)

Three Years of Bishop & Obama’s Broken Deficit Promises
Today Marks Three Years and $4.6 Trillion in Additional Debt Since President Obama & Washington Democrats Promised to Cut the Deficit in Half

WASHINGTON — Today is another unfortunate anniversary that highlights the failed promises of Tim Bishop’s reckless Democrat spending spree that has the country hurtling toward a debt-driven catastrophe. It was just three years ago that President Obama promised to cut the deficit in half, but instead Bishop and his Democrat colleagues in Washington engaged in annual fiscal mismanagement, producing record-high deficits and burdening future generations with $4.6 trillion in additional debt.

“President Obama and his ally Tim Bishop have broken their deficit promise with a Washington spending spree that has put our country on the path to a permanent decline,” said NRCC Communications Director Paul Lindsay. “After years of empty promises and fiscal mismanagement, the only legacy Bishop and Obama can claim is making the multi-trillion dollar deficit the new normal and placing that burden on hard-working New York taxpayers.”

Three years ago today, President Obama proudly promised to cut the federal deficit in half:

“And that’s why today I’m pledging to cut the deficit we inherited in half by the end of my first term in office. This will not be easy. It will require us to make difficult decisions and face challenges we’ve long neglected. But I refuse to leave our children with a debt that they cannot repay — and that means taking responsibility right now, in this administration, for getting our spending under control.” (President Barack Obama, “Remarks By The President And The Vice President At Opening Of Fiscal Responsibility Summit,” The White House, 2/23/09)

Before President Obama took office, a trillion dollar deficit was unheard of:

“If the CBO estimate is correct, it would mean that the United States recorded a deficit of more than $1 trillion for every year of Obama’s first term… The largest deficit recorded before [2009] was $458 billion in 2008.” (Erik Wasson, “CBO projects $1.08 trillion deficit, 8.9 percent jobless rate in 2012,” The Hill‘s On The Money Blog, 1/31/12)

The Washington Democrat spending spree gave American taxpayers four trillion dollar deficits in a row:

2009: $1,412,688,000,000 (Office of Management and Budget, FY 2012)
2010: $1,293,489,000,000 (Office of Management and Budget, FY 2012)
2011: $1,296,000,000,000 (Congressional Budget Office, 1/31/12)
2012: $1,079,000,000,000 (projected) (Congressional Budget Office, 1/31/12)

Instead of cutting the deficit in half, President Obama and Tim Bishop’s big-spending policies have left American taxpayers with yearly trillion dollar deficits that continue to pile debt on to future generations. Bishop and his fellow Washington Democrats can continue to promise fiscal responsibility, but the record is clear on how their words ring hollow.

Three Years of House Dems & Obama’s Broken Deficit Promises http://ow.ly/9f9kp #madeinwdc

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