Fox Nation falsely attributes entire FY09 deficit to Obama October 09, 2009 12:29 pm ET — 23 Comments
The Fox Nation falsely attributed the entire fiscal year 2009 deficit to President Obama, using the headline "Obama Triples Budget Deficit to $1.4 Trillion" to link to an Associated Press article reporting on the Congressional Budget Office's (CBO) most recent budget review estimate. In fact, only a small portion of the fiscal year 2009 deficit is due to Obama's policies; in January, before he took office or signed any legislation, CBO projected that, based on policies set under President Bush and economic conditions at the time, the deficit for fiscal year 2009 would reach $1.2 trillion. Fox Nation headline falsely claims "Obama Triple[d] Budget Deficit to $1.4 Trillion"
Fox Nation: "Obama Triples Budget Deficit to $1.4 Trillion." The Fox Nation linked to an AP article posted on FoxNews.com that reported that "[t]he federal budget deficit tripled to a record $1.4 trillion for the 2009 fiscal year that ended last week." The article further reported: "The unprecedented flood of red ink flows from several factors, including a big drop in tax revenues due to the recession, $245 billion in emergency spending on the Wall Street bailout and the takeover of mortgage giants Fannie Mae and Freddie Mac. Then there is almost $200 billion in costs from President Obama's economic stimulus bill, as well as increases in programs such as unemployment benefits and food stamps."
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