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In February of 2009, President Obama promised that by the end of his term he’d cut the deficit in half.

February 2009 – White House Says President Obama Will Cut Nation’s Deficit In Half. President Obama will announce Monday that he plans to cut the nation’s projected annual deficit in half by the end of his first term, a senior administration official said Saturday. (Mike Allen, “Obama Vows To Cut Huge Deficit In Half,” Politico, 2/22/09)