Tags: America's Forum | Jeffrey | budget | deficit | Obama

CNS' Jeffrey: Budget Deficit Still Larger Than Before Obama Took Office

By    |   Wednesday, 15 April 2015 10:50 AM

President Barack Obama may spend a lot of time bragging about the reduction of the budget deficit over the past few years, but the reality is a bit different, Terence Jeffrey, editor-in-chief of CNS News, told Newsmax TV.

In the first half of fiscal 2015, which ended March 31, the budget gap widened 6 percent to $439.5 billion from $413.3 billion in the year earlier period, he said on the network's "America's Forum."

The deficit peaked at $1.3 trillion in fiscal 2011 and shrank to $483 billion in fiscal 2014.

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The shortfall registered $458 billion in the last full year of the Bush administration — fiscal 2008.

"That year when Obama came in, we did have the biggest deficit in the history of the country since World War II," Jeffrey said.

"What he does is say we're not running as big a deficit as we did in fiscal 2009. Well, of course not, but we're running deficits on a historic basis that are bigger than we ran in the periods before Obama came into office, except during World War II."

So what's causing the deficit problem?

"The main drivers of the increased federal spending and increased federal deficit are entitlements — Medicaid No. 1, but also Medicare and Social Security," Jeffrey said.

"In the first six months of fiscal 2015, Medicaid spending jumped $31 billion, that's 22 percent just in those six months, and that's largely driven by increased Medicaid enrollment because of Obamacare."

Bottom line: "We've expanded the federal welfare state by expanding Medicaid," Jeffrey said.

"It's not just going to drive a bigger deficit this year, it's going to drive bigger debt for this country down the road for years to come."

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President Barack Obama may spend a lot of time bragging about the reduction of the budget deficit over the past few years, but the reality is a bit different, Terence Jeffrey, editor-in-chief of CNS News, told Newsmax TV.
Jeffrey, budget, deficit, Obama
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2015-50-15
Wednesday, 15 April 2015 10:50 AM
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