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The CBO says we’ll have trillion dollar deficits the next 4 years.

Welcome to VoteFacts.  In this debate video, Governor Romney  told us that,

"The CBO said we'll have a trillion dollar deficit each of the next 4 years."

(View video in its entirety by dragging start button backward.  Quote begins at 30 minutes, 17 seconds)

We know that the deficit has gotten bigger and bigger and lots of numbers have been bandied about in this campaign season. But, as we do here at VoteFacts, we thought we would let our friends at Congressional Budget Office (CBO) give you the details on this claim.  Here's what they had to say...  (click the table to enlarge it)

Here is what the CBO projected for the next four years if President Obama's fiscal year 2013 budget proposal had been passed (it did not receive one 'yea' vote from congress):

And here is what the Office of Management and Budget (OMB) has projected when it comes to the deficits.  OMB Table

     • 2012 - $1.3 trillion

     • 2013 - $901 billion

     • 2014 - $667 billion

     • 2015 - $609 billion

     • 2016 - $648 billion

You've seen the numbers, now go do what you do and weigh-in. Is Mittens givin' fictions or has Romney gotten his  facts straight?

Resources

CBO, Page iv

CBO, Obama

VoteFacts original post date:  October 5, 2012

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The CBO said we'll have a trillion dollar deficit each of the next 4 years. Fact or Fiction?
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Voting Key


Fact = 100% - 92% True
Mostly Fact = 91% - 75% True
Slightly Fact = 74% - 60% True
Split = 59% - 50% True
Slightly Fiction = 49% - 30% True
Mostly Fiction = 29% - 10% True
Fiction = 9% - 0% True