Despite the GOP’s attempt to make things worse, adding almost $300 billion in tax breaks for their wealthy puppet masters directly to the deficit, the black guy they hate is successfully staving off the massive deficit thanks to our ever-strengthening economy and improving job market. In fact, the deficit has reached the lowest point since 2008, declining to $366 billion for the period between October 2013 and June 2014–28% lower than the deficit for the same period last year–according to the Treasury Department. In other good news, the government had a surplus of $71 billion in June.
The economic recovery has helped to lower the deficit by increasing tax revenues and reducing dependence on social programs, according to Gus Faucher, a senior economist for PNC Financial Services Group. “This is more a reflection of the improving economy than anything else.”
Will these improvements last? Faucher says that things will continue to get better. “The deficit will further decline over the next couple of years as the economy continues to improve. Over the longer run there’s still the issue of how to pay for the retirement of the Baby Boomers with Social Security and Medicare,” he explained.
We look forward to our steadily improving situation under the absolute worst Communist President ever.