Did you check out the link he gave?
Your news article was from July. Here's a more recent set of numbers from the CBO, where the estimated 2010 deficit was $1.3 trillion. Less than 2009? Sure. By $125 billion. But again, notice the same correction factor:
^Outlays ended the year about 2 percent below those in 2009, CBO estimates. That decline resulted primarily from a net reduction in outlays for three items related to the financial crisis: the costs of the TARP ($262 billion lower than in 2009), payments to Fannie Mae and Freddie Mac ($51 billion lower), and federal deposit insurance ($55 billion lower). Excluding those three programs, spending rose by about 9 percent in 2010, somewhat faster than in recent years.^
As always, it's the spending.
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Re: LMAO indeed
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- The coming government shutdown?