Inherited $1.3 Trillion Deficit
Last night, the president reminded us that “I inherited a 1.3 trillon dollar deficit.”
Okay, let’s review. In 2007 (the year the Democrats took over control of Congress), the deficit was $170 billion (having steadily declined from a high of $378 billion in 2003).
The following year, the Democrat-controlled Congress nearly tripled the deficit to $459 billion.
This year’s deficit is projected to more than triple again to $1.75 trillion. Most of this is Obama’s “stimulus” and omnibus spending bill.
So what part of this is “inherited”?

