CHART OF THE DAY: Barack Obama Is Totally Torpedoing Deficit Levels

Any debate about debts and deficits becomes much more robust when the numbers are considered relative to the size of the economy.

“Under Obama, the deficit is falling from 10% of GDP to just 3%,” tweeted MSNBC’s Ari Melber. “But only 6% of America knows it.

There’s often a misconception that a democratic President would be more likely to raise these ratios by promoting big government.

But the reality is quite the opposite.

As you can see from this chart from Deutsche Bank’s David Bianco, Obama has been one of the most effective presidents in American history to reduce deficit levels.

On a related note, the latest jobs report showed that Obama continues to be a destroyer of government jobs.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.