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Entry 101Feb 23, 2009

“Today I'm pledging to cut the deficit we inherited by half by the end of my first term in office”101

101President Barack Obama, President of the United States, Fiscal Responsibility Summit, February 23, 2009. Source

Why it’s on the record. The nonpartisan Congressional Budget Office estimated the annual deficit for fiscal year 2012, the last full year of Obama's first term, at approximately $1.1 trillion, which was not half of the $1.4 trillion deficit from 2009.

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On the record

Obama pledged to reduce the national deficit by half during his first term.

Said by
President Barack Obama, President of the United States
Where
Fiscal Responsibility Summit
When
Feb 23, 2009
Source
Fiscal Responsibility Summit, February 23, 2009