A Quote by Barack Obama
Today I am pledging to cut the deficit we inherited in half by the end of my first term in office.
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When Mr. Obama entered office, he said all the right things about getting Washington spending under control. He even promised to cut the deficit in half by the end of his first term. Obviously, that didn't happen.
When my husband was president, we went from a $300 billion deficit to a $200 billion surplus and we were actually on the path to eliminating the national debt. When President Obama came into office, he inherited the worst economic disaster since the Great Depression. He has cut the deficit by two-thirds.
We're committed to working with Congress to doing what the president said he was always going to do, which is cut the deficit in half over the - over his first term.
Our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve -- and I believe this can be done -- a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future.
Send me to Washington, and if I can't make a difference, I'll voluntarily come back after just one term. Cut the deficit, slash illegal immigration in half, fix our horrific tax system - or I'll come home and help find somebody that can. That's my product guarantee.
Today is the day for the complaining to end and for statesmanship to begin. Today I am taking action to cut state spending and balance the budget this year.
In New Mexico, I inherited the largest structural deficit in state history, and our legislature is controlled by Democrats. We don't always agree, but we came together in a bipartisan manner and turned that deficit into a surplus. And we did it without raising taxes.
The Government's first priority on coming to office was to secure long-term economic stability and put an end to the damaging cycle of boom and bust.
Democrats in Washington predicted that tax cuts would not create jobs, would not increase wages, and would cause the federal deficit to explode. Well, the facts are in. The tax cuts have led to a strong economy. Real wages were on the rise, and deficit has been cut in half three years ahead of schedule.
It's really been a long-term dream of mine to have an alternative to wood-based paper. Over half of the trees cut in the world are cut for paper products.
At the end of their first years, there are few people who would have predicted that Truman would be elected in 1948 or that Reagan would get a second term. It's always premature to make some kind of categorical judgment after the first year in office.
The first half was end-to-end stuff. In contrast, in this second half it's been one end to the other.
When Republicans say, 'The first thing you do when you do deficit reduction is reduce rates,' it would be like Democrats saying, 'The first thing you do when you do deficit reduction is provide free Medicare at age 55.' We'd like to do that! But it won't bring the deficit down. That's for sure.
President Obama inherited a one trillion dollar deficit courtesy of George Bush and turned it into a three trillion dollar deficit courtesy of Karl Marx!
When George Bush came into office, we had surpluses. And now we have half-a-trillion-dollar deficit annually. When George Bush came into office, our national debt was around $5 trillion. It's now over $10 trillion. We've almost doubled it.
Perhaps resigning from her first term in office may hurt Mrs. Palin's attempts to run for higher office. Even I, a Palin supporter, now have qualms about her seeking higher office.
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