To hear the GOP tell it, the budget deficit has exploded under President Obama. Except next year it’s expected to go down.
Under President Obama, the nation’s deficit will shrink to less than $1 trillion in 2012, the Treasury Department announced yesterday. The deficit in 2011 and 2010 was $1.3 trillion. Treasury projects that the budget deficit for fiscal year 2012 will come in at $996 billion.
And a lot of that is expected to go away once the Bush era tax cuts expire.
How about that, Mitch McConnell?