America's deficit is falling, and in 2013 it's projected to fall more than anyone expected when the year began.
The deficit for 2013 will be 4.7% of GDP according to a White House estimate posted in July. It's down to $759 billion from $1.1 trillion in 2012. That's less than half of the 2009 deficit, which was 10.1%.
Obama is not responsible for most of the 2009 deficit, since Bush's budget ran until Oct 1 2009. That's agreed on even by conservatives, for instance this article at conservative think-tank Cato.
The graph above is based on data from WhiteHouse.gov and the CBO, including the revised projection of a 4.7%-of-GDP deficit for 2013. The deficit could shrink to 2.1% of GDP by 2015,according to the CBO, though it's likely to rise heading into the 2020s because of America's aging population.
Story suggested by PNWest.