Another Trillion Dollar Deficit

Another Trillion Dollar Deficit

Once again, the U.S. government has run up an over $1 trillion deficit, the Wall Street Journal reports.  While this is actually less than last year’s deficit, that is not something to be excited about – it is, after all, $1 trillion.

The deficit was roughly 7% of the country’s GDP.  This is actually President Obama’s lowest share since he took office, but still one of the largest of the post World War II-era.

The deficit has become an issue in the United States presidential election, with Republican candidate Mitt Romney bringing up President Obama’s promise, made a month after he took office, to cut the deficit in half by the end of his first term.  He is, of course, nowhere near keeping that promise.

“Americans deserve a president … who will end the era of big government ushered in by President Obama,” said Andrea Saul, a spokeswoman for the Romney campaign.

For more on the tremendous deficit, read the Wall Street Journal.

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