President Breaks Promise to Cut Deficit in Half

Three years ago, President Obama set a course for fiscal austerity by promising to cut the deficit in half by the end of his first term. Unfortunately, his fiscal year 2013 budget demonstrates once again that his promise was meaningless. The president talks a good game, but his actions speak louder than his words. Instead of meaningful debt reduction, the president has offered a budget that will add a staggering $11.2 trillion to the national debt over the next 10 years -- despite the fact that our nation is already more than $15 trillion in debt.