Obama Plans To Cut Deficit — From Enormous Down To Huge President Obama is reportedly planning a budget policy that would cut the deficit in half by cutting the budgets for the Iraq and Afghanistan wars, and by ending the Bush tax cuts for individuals making over $250,000. But here’s some math to show just what a tough job he has ahead of him: The deficit would still be $533 billion by the end of his first term, down from the $1.3 trillion he inherited from George W. Bush.
This is a companion discussion topic for the original entry at https://talkingpointsmemo.com/?p=145695