Obama slashes the deficit President Obama has cut the deficit more rapidly than any other president in the last half-century. Under Obama, growth in federal spending has slowed to the lowest pace seen in 60 years. In fact, in inflation-adjusted dollars, federal spending actually dropped during the first term of President Obama, the first time this has happened since Eisenhower was president. Say what? During the recent election, didn’t Republicans accuse Obama of “doubling the deficit” and of accelerating spending at an unprecedented level? Yes, they did, and it was a lie. Fortunately, only about 47 percent of Americans believed …