From Floyd Reports (Impeach Obama Campaign) and Gateway Pundit:




Obama July Deficit of $167 Billion Tops Bush Deficit For Entire Year of 2007

Posted by Jim Hoft on Wednesday, August 11, 2010, 9:33 PM

Worst. President. Ever.

The Obama Administration announced today that the July deficit totaled $165 billion…

That’s more than the Bush deficit for the entire year of 2007.

The Wall Street Journal reported:



The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.



Federal spending eclipsed revenue for the 22nd straight time, the Treasury Department said Wednesday. The $165.04 billion deficit, while a bit smaller than the $169.5 billion shortfall expected by economists polled by Dow Jones Newswires, was the second highest for the month on record. The highest was $180.68 billion in July 2009.



The government usually runs a deficit during July, which is the 10th month of the fiscal year. So far in fiscal 2010, the government spent $1.169 trillion more than it made. That figure is about $98 billion lower than during the comparable period a year earlier.



For all of fiscal 2009, the U.S. ran a record $1.42 trillion deficit. Fiscal 2010 might run a little higher—the Obama administration sees $1.47 trillion.



Once again, the facts…

THE TRUTH – TAX CUTS GROW THE ECONOMY.



During the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop.



In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth.



After an unheard of record deficit last year of $1.4 Trillion the economy is on track to experience a $1.47 Trillion deficit this year.

Worst President ever....
 
Video of the Day: “Barack Obama is the Worst President in History”


Posted by Ben on August 12, 2010 · Comments (12)



Floyd Reports



Ben Quayle, the son of former vice president Dan Quayle, has said what most Americans are coming to believe. The younger Quayle made headlines with a new ad that he produced as part of his effort to win the Republican nomination for the House of Representatives in Arizona’s district 3. The ad begins with the 33-year-old saying, “Barack Obama is the worst president in history.” Quayle did not back down from his assessment on Fox News this morning, saying Obama “took over a country that was admittedly in bad shape and made it much worse…What he has produced for the future generations of our country is frightening. And he is really starting to destroy the American dream.”