Deficit Reduction

So much for the Republican line that higher taxes on the wealthy won't reduce the deficit. According to CBO projections:

         "If the current laws that govern federal taxes and spending do not change, the budget
          deficit will shrink this year to $642 billion, CBO estimates, the smallest shortfall since
          2008. Relative to the size of the economy, the deficit this year—at 4.0 percent of gross
          domestic product (GDP)—will be less than half as large as the shortfall in 2009, which
          was 10.1 percent of GDP."

Source

Republicans have been hammering President Obama over the deficit ever since he took office. Contrary to their talking points, however, Obama is well on his way to completing his goal of deficit reduction in five years.

It appears to me that Obama is doing more to help the deficit than the hostage-taking Congressional Republicans...