Name:   MAJ USA RET - Subject:   DEFICIT HISTORY Date:   10/26/2010 12:56:40 PM

In FY 2008 (starting 01 OCT 07), the Democratic Congress had to compromise on spending, when Bush somewhat belatedly got tough on spending increases. In FY 2009, Congress passed continuing resolutions to keep government running until Barack Obama could take office.  At that time, they passed a massive omnibus spending bill to complete the FY 2009 budget.  Obama did not have to sign that budget, but he did.

If the Democrats inherited any deficit, it was the FY 2007 deficit, the last of the Republican budgets.  That deficit was the lowest in five years, and the fourth straight decline in deficit spending.