Growth In Government Spending Under President Obama Slower Than During Bush, Reagan Administrations | ThinkProgress Evidence of the cost-cutting measures employed by Obama can be found in the last several jobs reports. While the overall number of jobs created has steadily increased for the last several months, those advances have all come entirely in the private sector. Public sector jobs have actually been on the decline for much of the last year as government spending on some agencies and programs have been cut. Economics Professor Mark Thoma provides a helpful chart on his blog that puts President Obamas per capita spending into context, comparing it with the spending of every president in the last 40 years. Thats likely a hard pill to swallow for Obamas critics, who have spent years hammering his administration for record spending and fiscal irresponsibility. The Atlantics Derek Thompson put it best : Going by federal expenditures it would seem that if Obamas a socialist, Ronald Reagan is Karl Marx with an ICBM.