itfitzme
VIP Member
Obama spending binge never happened - Rex Nutting - MarketWatch
The author recognizes;
a) "...the first year of every presidential term starts with a budget approved by the previous administration and Congress."
b) "After adjusting for inflation..."
c) "In per capita terms..."
These three points are fundamental to anything that we might say about the US budget.
Graphically, it comes down to;
The author's conclusion is;
"If we attribute that $140 billion in stimulus to Obama and not to Bush, we find that spending under Obama grew by about $200 billion over four years, amounting to a 1.4% annualized increase.
After adjusting for inflation, spending under Obama is falling at a 1.4% annual pace the first decline in real spending since the early 1970s, when Richard Nixon was retreating from the quagmire in Vietnam.
In per capita terms, real spending will drop by nearly 5% from $11,450 per person in 2009 to $10,900 in 2013 (measured in 2009 dollars).
By the way, real government spending rose 12.3% a year in Hoovers four years. Now there was a guy who knew how to attack a depression by spending government money!"
I've done my own examination of the budget, in real dollar, per capita terms. I am not including projected numbers. I've got these in per capita, real dollar
I've got Bush averaging a 4.6% growth rate with Obama averaging 2.2%, in real dollar per capita terms. Clinton ran at an average -0.1%. The first Bush was at 0.4%, a really decent level, all things considered. Reagan was at 2%. Carter at 1.1%. Ford was 3.9%. Nixon at 2.4%
The author recognizes;
a) "...the first year of every presidential term starts with a budget approved by the previous administration and Congress."
b) "After adjusting for inflation..."
c) "In per capita terms..."
These three points are fundamental to anything that we might say about the US budget.
Graphically, it comes down to;
The author's conclusion is;
"If we attribute that $140 billion in stimulus to Obama and not to Bush, we find that spending under Obama grew by about $200 billion over four years, amounting to a 1.4% annualized increase.
After adjusting for inflation, spending under Obama is falling at a 1.4% annual pace the first decline in real spending since the early 1970s, when Richard Nixon was retreating from the quagmire in Vietnam.
In per capita terms, real spending will drop by nearly 5% from $11,450 per person in 2009 to $10,900 in 2013 (measured in 2009 dollars).
By the way, real government spending rose 12.3% a year in Hoovers four years. Now there was a guy who knew how to attack a depression by spending government money!"
I've done my own examination of the budget, in real dollar, per capita terms. I am not including projected numbers. I've got these in per capita, real dollar
I've got Bush averaging a 4.6% growth rate with Obama averaging 2.2%, in real dollar per capita terms. Clinton ran at an average -0.1%. The first Bush was at 0.4%, a really decent level, all things considered. Reagan was at 2%. Carter at 1.1%. Ford was 3.9%. Nixon at 2.4%
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