Here is a good read on that subject ...but don’t let Conservative see it as it will burst his bubble.:mrgreen:
<Democrats shrank US spending, deficit in last fiscal year, figures show >
The US deficit shrank nine percent last fiscal year but still topped one trillion dollars, the government said Friday in a report seized on by Democrats' rivals weeks ahead of mid-term elections.
For the 2010 fiscal year that ended on September 30, the government had a budget shortfall of 1.294 trillion dollars, down 122 billion dollars from the previous year's record-setting high.
Revenue rose and spending fell amid recovery from recession and as President Barack Obama's Democratic administration wound down some of the emergency measures taken to restore growth.
The final figures "underscored the administration's commitment" to cutting the massive government deficit, Treasury Secretary TimothyGeithner said in a statement.
"By carefully managing the emergency initiatives to stop the financial panic and by accelerating our exit from those investments, we have significantly lowered the cost to taxpayers, bringing the costs of the financial rescue down by more than 240 billion dollars this year."
Democrats shrank US spending, deficit in last fiscal year, figures show | Raw Story