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In the President’s FY ‘13 budget, the White House aims to shrink the deficit to $612 billion in four years.

President Obama Promises To Shrink the Deficit To $612 Billion Over Four Year. “Annual deficits then would shrink, to $612 billion in fiscal 2017 – which starts Oct. 1, 2016… (Kevin G. Hall, “Obama’s Budget Would Shrink Annual Deficits, But National Debt Still Explodes,” McClatchy Newspapers, 2/13/12)

We’ve heard it before, folks. In the President’s first budget he promised to shrink the deficit to $581 billion by FY ‘13. Yet, every single year since we’ve had a deficit of over $1 trillion – so why should we believe him now?

President Obama’s First Budget Promised To Shrink Deficit To $581 Billion By This Year. President Obama’s first budget projected 2010–2012 annual deficits of $1.17 trillion, $912 billion, and $581 billion, respectively. The actual deficits for those years were $1.29 trillion, $1.3 trillion, and (a projected) $1.33 trillion. (Editorial, “Ball Four,” National Review, 2/14/11)