“Over the last four years, the deficit has gone up, but 90 percent of that is as a consequence of two wars that weren’t paid for, as a consequence of tax cuts that weren’t paid for, a prescription drug plan that was not paid for, and then the worst economic crisis since the Great Depression. Now we took some emergency actions, but that accounts for about 10 percent of this increase in the deficit, and we have actually seen the federal government grow at a slower pace than at any time since Dwight Eisenhower, in fact, substantially lower than the federal government grew under either Ronald Reagan or George Bush.” – Barack Obama on “60 Minutes.”
Bonus fact check on this quote:
“Finally, Obama claims that ‘we have actually seen the federal government grow at a slower pace than at any time since Dwight Eisenhower.’ We regret to say that the president is repeating a widely debunked column that appeared on MarketWatch earlier this year. We devoted three columns to the column’s faulty logic, and FactCheck.org and the Associated Press also said it was bunk. (PolitiFact said it was ‘half true.’)”
(Original has links to all the associated articles.)