Obama spending binge never happened

Discussion in 'Politics' started by Synthaholic, Dec 3, 2012.

  1. Synthaholic
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    Synthaholic Platinum Member

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    Obama spending binge never happened



    Government outlays rising at slowest pace since 1950s



    WASHINGTON (MarketWatch) — Of all the falsehoods told about President Barack Obama, the biggest whopper is the one about his reckless spending spree.


    As would-be president Mitt Romney tells it: “I will lead us out of this debt and spending inferno.”


    Almost everyone believes that Obama has presided over a massive increase in federal spending, an “inferno” of spending that threatens our jobs, our businesses and our children’s future. Even Democrats seem to think it’s true.


    But it didn’t happen. Although there was a big stimulus bill under Obama, federal spending is rising at the slowest pace since Dwight Eisenhower brought the Korean War to an end in the 1950s.


    Even hapless Herbert Hoover managed to increase spending more than Obama has.


    Here are the facts, according to the official government statistics:

    • In the 2009 fiscal year — the last of George W. Bush’s presidency — federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion. Check the official numbers at the Office of Management and Budget.


    [​IMG]
    • In fiscal 2010 — the first budget under Obama — spending fell 1.8% to $3.46 trillion.
    • In fiscal 2011, spending rose 4.3% to $3.60 trillion.
    • In fiscal 2012, spending is set to rise 0.7% to $3.63 trillion, according to the Congressional Budget Office’s estimate of the budget that was agreed to last August.
    • Finally in fiscal 2013 — the final budget of Obama’s term — spending is scheduled to fall 1.3% to $3.58 trillion. Read the CBO’s latest budget outlook.


    Over Obama’s four budget years, federal spending is on track to rise from $3.52 trillion to $3.58 trillion, an annualized increase of just 0.4%.
    There has been no huge increase in spending under the current president, despite what you hear.


    Why do people think Obama has spent like a drunken sailor? It’s in part because of a fundamental misunderstanding of the federal budget.


    What people forget (or never knew) is that the first year of every presidential term starts with a budget approved by the previous administration and Congress. The president only begins to shape the budget in his second year. It takes time to develop a budget and steer it through Congress — especially in these days of congressional gridlock.


    The 2009 fiscal year, which Republicans count as part of Obama’s legacy, began four months before Obama moved into the White House. The major spending decisions in the 2009 fiscal year were made by George W. Bush and the previous Congress.


    Like a relief pitcher who comes into the game with the bases loaded, Obama came in with a budget in place that called for spending to increase by hundreds of billions of dollars in response to the worst economic and financial calamity in generations.




    *snip*






    Another lame wingnut talking point shot to hell! :lol:
     
  2. Synthaholic
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    Synthaholic Platinum Member

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    [​IMG]


    :lol:
     
  3. beretta304
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  4. zeke
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    zeke Gold Member

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    Amazing, isn't it.

    Want to hear the loyal rethug oppositions take on this info?

    CBO??? Who believes that shit? YOU know they are in the bag for Obama.

    And Bush Bush Bush. All you want to do is blame Bush.

    Or......

    Dwight D Eisenhower? He was a RINO. Dont you know a RINO when you see one?

    or........

    Ronnie Reagan increased spending and balanced the budget with huge tax cuts....yea that's what he did. He's my hero.


    Or other such non sense and drivel provided by the right wing whack job population of this site. And I didn't get to call you a name yet.;

    Funny if it wasn't so pitiful.
     
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  5. konradv
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    konradv Gold Member

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  6. beretta304
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    beretta304 BANNED

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    What's amazing is how stupid you are not to look at the post below your babbling. The exact bogus chart is there.
     
    Last edited: Dec 3, 2012
  7. RDD_1210
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    RDD_1210 Forms his own opinions

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  8. beretta304
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  9. RDD_1210
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    Of course it never happened. It's why not not one of them can explain where all the money that Obama supposedly spent. Not one of them. But Fox News tells them he spends wildly, so that's all they need to know.
     
  10. RDD_1210
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