It's official: Obama ran trillion-dollar deficits four years in a row

Tuesday, August 27, 2013 by: J. D. Heyes
Tags: Obama, trillion-dollar deficits, national debt

eTrust Pro Certified

Delicious Pin It
(NaturalNews) He certainly isn't the only president in U.S. history to run trillion-dollar deficits, but he is the first to run as many in a row. It's official now: Barack Obama is head of the most profligate spending government ever.

In a recent disclosure of updated historical budget data for the federal government, the Congressional Budget Office reported a deficit of $1.087 trillion for fiscal year 2012, marking the fourth straight year - and the only four-year stretch in history - that federal spending was more than a trillion dollars over what the government received in revenue. puts it in perspective:

Last year's $1.087 trillion deficit was even greater in inflation-adjusted dollars than the peak World War II deficit of fiscal 1943 - which was $54.554 billion in 1943 dollars and $723.8714 billion in 2012 dollars, according to the Bureau of Labor Statistics online inflation calculator.

In addition, the deficit remained at a higher percentage of gross domestic product (GDP) over the course of Obama's first term than at any time since the end of the Second World War (which ended in fiscal year 1946 and which began in June 1945; the war officially ended with Japan's surrender Sept. 2, 1945).

Fastest accumulation of debt ever

In February, CBO had first reported that the deficit for fiscal 2012 - which ended Sept. 30 of that year - was $1.0894 trillion. That figure was based on an estimation that the federal government had received in revenue $2.4491 trillion and had spent $3.5385 trillion. But, in May, the agency revised its figures, raising its deficit figure for the year.

Before Obama, George W. Bush was the most profligate spender. In fiscal year 2008, the last full year he was in office, the federal deficit was $458.6 billion, according to CBO figures. During his 8-year tenure he added $4 trillion to the national debt.

But "[a]s a percentage of GDP, the deficits for fiscal years 2009-2012 were greater than the federal deficits in any year since World War II," reported.

Obama, by comparison, has added more to the debt ($6 trillion) in less time than Bush. And debt is going to destroy the country.

According to a number of economists and budget experts, what is driving most U.S. government debt are entitlements - promises of benefits to various constituency groups made by successive congresses for years, for the dual purpose of buying votes and making more of us dependent on government for our survival.

Ever hear of 'unfunded liabilities?'

That's why there is never any serious discussion of entitlement reform, because the hierarchy of both major parties likes the thought of having you come to them for all your basic needs. It's a power trip that will destroy our country.

"From an economic perspective, the size of the deficit and debt per se are not necessarily as important as the underlying policies of spending and taxation," Michael Pakko, an economist at the Federal Reserve Bank of St. Louis, wrote in 2009. "Nevertheless, when [budget] deficits are part of a fundamental structural imbalance in the long term, they signal a need for serious attention and reform. In a long-run fiscal analysis of U.S. federal government programs, this is demonstrably the case."

The "structural imbalance" he talks about is the number and cost of entitlement programs.

Worse, this is a cost that is rarely discussed in any serious budget debate. The only dollar figure you're going to hear about in the coming weeks when Congress once again takes up the subject of raising the federal budget debt ceiling is the national debt, seen here.

But take another look at the U.S. Debt Clock. Look at the bottom of the graphic. You'll see a category marked "US Unfunded Liabilities." This is where the real disaster looms.

While the "national debt," as of this writing, is about $16.9 trillion, the real debt figure is listed in the US Unfunded Liabilities - entitlements - category, and it is a staggering $125.3 trillion.

I dare say there isn't enough money in the universe to pay that off.

So while Obama and Congress fight over scraps - a billion dollars here, ten billion there - a hundred years' worth of bad policymaking and over-promising of benefits for the sake of retaining power has left our country just about as broke as it could ever possibly be.


Get breaking news alerts on GMOs, fluoride, superfoods, natural cures and more...
Join over four million monthly readers. Email privacy 100% protected. Unsubscribe at any time.

Have comments on this article? Post them here:

comments powered by Disqus

Take Action: Support

Email this article to a friend

Permalink to this article:

Reprinting this article: Non-commercial use OK, cite with clickable link.

Embed article link: (copy HTML code below):
Most Popular
Today | Week | Month | Year

See all Top Headlines...


Now Available at

O3 Essentials OraJuvenate™
A powerful, cleansing dental cream for maximum oral/dental health.
New Cancer Solutions
Over 3 hours of content covering today’s best cancer tests, how to kill cancer cells and the best diets and exercise routines.
Freeze-Dried 100% Organic Whole Corn
Our freeze-drying method preserves taste, texture and nutrients better than any other food preservation method ever invented.
Fenix TK35 Flashlight
Tough, waterproof, extremely bright and it’s touted to throw an 800+ lumen beam more than 1,000 feet into the night.
Inca Treasure Smoothie Pack
This pack of our four most popular superfoods from South America is the perfect combo pack for smoothie lovers.
Pink Himalayan Salt
This salt delivers significant levels of magnesium, zinc and selenium, with trace levels of dozens of other elements.
Pinhole Glasses - Aviator Style
Pinhole glasses are becoming famous for helping people improve their vision without the risks of laser surgery.
Oxy-Rich Facial Serum
O3 Essentials Jojoba Oxy-Rich Facial Serum is cellular nourishment for your skin. Helps smooth fine lines while enhancing tissue elasticity.
Freeze-Dried 100% Blackberry Halves
Our freeze-dried blackberry halves are grown in Serbia under strict organic standards.

Also on NaturalNews:

Health Ranger Videos
Activist music
CounterThink Cartoons
Food documentaries
FREE Special Reports
Colloidal Silver

Advertise with NaturalNews...

Support NaturalNews Sponsors:

Advertise with NaturalNews...

Most Popular Stories

Flu shot kills 19-year-old, but vaccine industry still has total immunity against lawsuits
Here's a nutty fact: Eating more tree nuts lowers the risk of all-cause death by up to 20 percent
Six important facts you're not being told about lost Malaysia Airlines Flight 370
Malaysia Airlines Flight 370 now clearly a government cover-up: All evidence contradicts official story
10 other companies that use the same Subway yoga mat chemical in their buns
BLM fracking racket exposed! Armed siege and cattle theft from Bundy ranch really about fracking leases
High-dose vitamin C injections shown to annihilate cancer
U.S. treating meat with ammonia, bleach and antibiotics to kill the '24-hour sickness'
USDA to allow U.S. to be overrun with contaminated chicken from China
Vaccine fraud exposed: Measles and mumps making a huge comeback because vaccines are designed to fail, say Merck virologists
Battle for humanity nearly lost: global food supply deliberately engineered to end life, not nourish it
Diet soda, aspartame linked to premature deaths in women

25 Amazing Facts About Food

This FREE downloadable report unveils a collection of astonishing and little-known facts about the food we eat very day. Click here to read it now...


Resveratrol and its Effects on Human Health and Longevity - Myth or Miracle.

Unlock the secrets of cellular health with the "miracle" nutrient Resveratrol Click here to read it now...


Nutrition Can Save America

FREE online report shows how we can save America through a nutrition health care revolution. "Eating healthy is patriotic!" Click here to read it now...

The Healing Power of Sunlight and Vitamin D

In this exclusive interview, Dr. Michael Holick reveals fascinating facts on how vitamin D is created and used in the human body to ward off chronic diseases like cancer, osteoporosis, mental disorders and more. Click here to read it now...

Vaccines: Get the Full Story

The International Medical Council on Vaccination has released, exclusively through, a groundbreaking document containing the signatures of physicians, brain surgeons and professors, all of which have signed on to a document stating that vaccines pose a significant risk of harm to the health of children. Click here to read it now...

Health Ranger Storable Organics

GMO-free, chemical-free foods and superfoods for long-term storage and preparedness. See selection at

Recommended Resources On:

Natural News trends
Health Ranger news
Natural News GMOs
Mike Adams tracker
Natural News photos
Natural News Global
Natural News in focus
Natural News connect
Natural News shocking stories
Natural News radar
Health freedom
Dr. Paul Offit

This site is part of the Natural News Network © 2014 All Rights Reserved. Privacy | Terms All content posted on this site is commentary or opinion and is protected under Free Speech. Truth Publishing International, LTD. is not responsible for content written by contributing authors. The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Truth Publishing assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms and those published here. All trademarks, registered trademarks and servicemarks mentioned on this site are the property of their respective owners.

eTrust Pro Certified Android app on Google Play

Sign up for the FREE Natural News Email Newsletter

Receive breaking news on GMOs, vaccines, fluoride, radiation protection, natural cures, food safety alerts and interviews with the world's top experts on natural health and more.

Join over 7 million monthly readers of, the internet's No. 1 natural health news site. (Source:

Your email address *

Please enter the code you see above*

No Thanks

Already have it and love it!

Natural News supports and helps fund these organizations:

* Required. Once you click submit, we will send you an email asking you to confirm your free registration. Your privacy is assured and your information is kept confidential. You may unsubscribe at anytime.