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No, not exactly; but in fairness, he did not make that claim. Here is his exact quote, from his January 2013 State of the Union address: "Over the last few years, both parties have worked together to reduce the deficit by more than $2.5 trillion." But even there, critics have noted there is some nuance to that assertion. The "$2.5 trillion" figure is the amount of deficit reduction over a decade; Mr. Obama also claimed the government cut $1.4 trillion in 2011 alone.
The $2.5 trillion amount Mr. Obama used in the State of the Union speech is based on where the deficit stood in August 2010 and where it is now, according to CNN Money, which derived its calculations from the bipartisan Committee for a Responsible Federal Budget. So the truth is there has in fact been some budget cutting, and some deficit reduction. But the exact figure is in doubt. Democrats insist they have cut the larger amount; Republicans say the amount of cutting has been far less. And both parties are trying to make their side seem more fiscally prudent than their opponents. That said, the short answer is the $2.5 trillion claim is probably not accurate; but it is certainly typical of claims presidents make when giving State of the Union addresses.
Wiki User
∙ 11y ago
No, Barack Obama did not directly cut $2.5 trillion from the deficit during his presidency. However, under his administration, the annual budget deficit was reduced over time. The $2.5 trillion reduction may refer to the overall decrease in the deficit projected over a ten-year period as a result of certain policies enacted during Obama's presidency, including the Affordable Care Act and the Budget Control Act.
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Did barack Obama cut off 6 of his toes to become president?
No, he did not cut off any toes. He was elected, just like every other president.
What did Barack Obama do with taxes?
As president, studies show that he cut taxes for middle-class families on at least two occasions.
How much does Barack Obama charge an hour for his services as a Solicitor?
He was a professor of Constitutional law. By the hour/cut of winnings does not apply.
How did Barack Obama make a difference in the community?
Barack Obama made a difference in the communtity because he cut the budget of taxes and he also cares about children's health, and how to make peple stop littering to make the world a better place. That is a good chance for obama to become president again int he year of 2012.
Where did Barack Obama get his hair cut in cambrige ma?
There is no publicly available information regarding where Barack Obama got his hair cut while in Cambridge, MA. Like many public figures, his personal grooming routines are typically kept private.
What is Barack Obama planing to do about the high taxes?
Obama's tax plan delivers broad-cast tax relief to middle class families and cut-taxesfor small bussissness and companies that create jobs in America.
Where did Barack Obama get his hair cut in Cambridge ma?
Some sources have said he used to go to the La Flamme Barber Shop, on Dunster Street in Cambridge.
Is President Barack Obama circumcised?
Most probably not he is not a muslim and he has a reasonably well educated background. His late father was a Muslim so there is a slight probability that he might be cut.
What are some problems that Barack Obama will solve?
He will stop inflation. Pay off the national debt. Win the war. and give us all a big tax cut. He will solve the energy crisis.
What is the current relationship between Barack Obama William Ayers and Reverend Wright?
Currently I think Barack Obama is keeping his distance from these people as it could cost him the election if he still has good relations with them. Reverend Wright was Obama's Preacher. Obama attended his sermons for over 20 years. This anti-white, anti semitic, anti-America preacher married Barack Obama and Michelle as well as baptized his children. William Ayers is a founder of the anti-war terrorist group the Underground Weatherman. He was also convicted of several domestic acts of terrorism, including bombing of the pentagon. He was an acquaintance of Obama's for many years. As of his presidential nomination, Obama has currently cut ties with Reverand Wright and stated that William Ayers actions are 'detestable'.
Did obama cut pay for active duty and retired military personal?
No, Barack Obama did not cut pay for active duty and retired military personnel during his presidency. In fact, during his time in office, military pay increased annually in line with congressional provisions.
What was the Federal Deficit when President Bush left office?
"Reagan proved deficits don't matter," Vice President Cheney said in 2002 when pushing for a fresh round of tax cuts. With this attitude in hand, Bush passed on a budgetary nightmare to his successor. Bush came into office with an advantage few presidents have enjoyed -- a $230 billion surplus. But due to a $1.35 trillion tax cut in 2001, a $1.5 trillion tax cut in 2003, and a massive defense buildup through the Iraq and Afghanistan wars, Bush quickly blew through that surplus. The next president will "inherit a fiscal meltdown," Senate Budget Committee Chairman Kent Conrad (D-ND) warned in February 2008, as the Bush administration projected a budget deficit of $400 billion. After the financial crisis emerged last fall and the ensuing bailouts, Bush's budget deficit ballooned to over $1 trillion.
