Romney Campaign Press Release - Tomorrow's Headlines Today: More Debt and Deficits in President Obama's Second Term

"If President Obama wins a second term, he will not be restrained by having to answer to voters again. Unfortunately, our economy will continue to be restrained by the disastrous fiscal policies that have brought us four straight trillion-dollar deficits and historic growth in the national debt. America truly can't afford four more years of Barack Obama." —Andrea Saul, Romney Campaign Spokesperson

In 2013, President Obama's Budget Will Begin Piling Up Trillions Of Dollars In New Debt And Deficits:

President Obama's Budget Will Produce A Deficit Of Nearly $1 Trillion In 2013. "A new analysis of President Barack Obama's budget for next year says the deficit scenario for next year isn't as rosy as the White House figured last month. Friday's Congressional Budget Office report said Obama's budget would produce a $977 billion deficit next year — $75 billion more than predicted by the White House." ("CBO: Obama Budget Produces 2013 Deficit Of $977B," The Associated Press, 3/16/12)

"Over The Coming Decade, CBO Says Obama's Policies Would Result In Deficits Totaling $6.4 Trillion." ("CBO: Obama Budget Produces 2013 Deficit Of $977B," The Associated Press, 3/16/12)

In Just Over Three Years, President Obama Added Nearly $5 Trillion To The National Debt—More Than What Was Added In All Eight Years Of The Bush Administration. "The National Debt has now increased more during President Obama's three years and two months in office than it did during 8 years of the George W. Bush presidency. The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office." (Mark Knoller, "National Debt Has Increased More Under Obama Than Under Bush," CBS News, 3/19/12)

President Obama Will Request Another Debt Ceiling Increase — After The 2012 Campaign Ends:

Between Late November 2012 And Early January 2013, President Obama Will Need Another Debt Ceiling Increase. "But the Bipartisan Policy Center said Friday that the debt-limit doomsday could come earlier than that. Analysts from the Bipartisan Policy Center projected that the United States will hit its $16.4 trillion debt ceiling between late November 2012 and early January 2013 due to lower-than-expected corporate tax revenues and the recent extension of the payroll tax holiday." (Seung Min Kim, "Debt Doomsday May Come Sooner Than Expected," Politico, 2/24/12)

President Obama Required That The Last Debt Ceiling Increase Was Large Enough To Delay Any Future Hike Until "After The Presidential Election." "Democrats in the House, Senate, and White House have all signaled unwillingness to sign off on a debt-ceiling hike that does not carry into 2013. Obama has vowed to veto an extension of borrowing authority that does not last into 2013 — after the presidential election." (Jim O'Sullivan, "Boehner Finishing Six-Month Debt Plan, Despite Obama Opposition," National Journal, 7/25/11)