DC Decoder Obama: Deficits falling at fastest rate since WWII. Is that true?

In a speech marking the fifth anniversary of the financial crisis, President Obama claims credit for cutting the deficit in half. But one reason it fell so fast is that it shot up so high in the first place.

Carolyn Kaster/AP

President Obama on Monday boasted that during his time in office the US budget deficit has been cut in half. In remarks commemorating the fifth anniversary of the onset of the financial crisis of 2008, Mr. Obama cited the deficit reduction as a sign of progress for an economy that’s still struggling toward full recovery.