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The analysis by Internet commentator Rex Nutting on which Obama based his claim begins by telling us 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. Not exactly.
The previous administration, or President, proposes a budget. The previous Congress approves a budget. And what Congress approves can be radically different from what the President proposes.
But for fiscal year 2009, President Bush in February, 2008 proposed a budget with just a 3% spending increase over the prior year. Fiscal year 2009 ran from October 1, 2008 until September 30, 2009. President Obamas term began on January 20, 2009.
Recall, however, that in 2008 Congress was controlled by Democrat majorities, with Nancy Pelosi as Speaker of the House, and the restless Senator Obama already running for President, just four years removed from his glorious career as a state Senator in the Illinois legislature. As Hans Bader reported on May 26 for the Washington Examiner, the budget approved and implemented by Pelosi, Obama and the rest of the Congressional Democrat majorities provided for a 17.9 percent increase in spending for fiscal 2009!
The Democrat Congress [in 2008], confident Obama was going to win in 2008, passed only three of fiscal 2009s 12 appropriations bills (Defense, Military Construction and Veterans Affairs, and Homeland Security). The Democrat Congress passed the rest of them [in 2009], and [President] Obama signed them. So Obama played a very direct role in the runaway fiscal 2009 spending explosion.
After just one year of the Obama spending binge, federal spending had already rocketed to 25.2% of GDP, the highest in American history except for World War II. That compares to 20.8% in 2008, and an average of 19.6% during Bushs two terms.
President Obamas own 2013 budget shows that as a result federal debt held by the public will double during Obamas four years as President. That means in just one term President Obama will have increased the national debt as much as all prior Presidents, from George Washington to George Bush, combined.
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President Obama’s own 2013 budget shows that as a result federal debt held by the public will double during Obama’s four years as President. That means in just one term President Obama will have increased the national debt as much as all prior Presidents, from George Washington to George Bush, combined.
So Congress that okays the budget and allocates funds for such are the reason that Obama spends monies. So what you are saying that obama is the Congress?
So Congress that okays the budget and allocates funds for such are the reason that Obama spends monies. So what you are saying that obama is the Congress?
Moron... are you just acting stupid or are you REALLY this stupid.
The first TWO YEARS of the kenyan's REIGN, he had FULL CONTROL of BOTH HOUSES with DEM MAJORITIES.
So Congress that okays the budget and allocates funds for such are the reason that Obama spends monies. So what you are saying that obama is the Congress?
Moron... are you just acting stupid or are you REALLY this stupid.
The first TWO YEARS of the kenyan's REIGN, he had FULL CONTROL of BOTH HOUSES with DEM MAJORITIES.
Moonbutt has an excuse for every Obama move. It's OK to jet around on the taxpayer's dollar, Bush I & II did it. Moonbutt got smarter in college (can't you tell by his avatar). And Congress which includes the Senate and the House are the reason all that $$$$$ is being spent. Wonder how many other threads he'll pop in to excuse the chosen one.
So Congress that okays the budget and allocates funds for such are the reason that Obama spends monies. So what you are saying that obama is the Congress?
Moron... are you just acting stupid or are you REALLY this stupid.
The first TWO YEARS of the kenyan's REIGN, he had FULL CONTROL of BOTH HOUSES with DEM MAJORITIES.
So Congress that okays the budget and allocates funds for such are the reason that Obama spends monies. So what you are saying that obama is the Congress?
Moron... are you just acting stupid or are you REALLY this stupid.
The first TWO YEARS of the kenyan's REIGN, he had FULL CONTROL of BOTH HOUSES with DEM MAJORITIES.
Moonbutt has an excuse for every Obama move. It's OK to jet around on the taxpayer's dollar, Bush I & II did it. Moonbutt got smarter in college (can't you tell by his avatar). And Congress which includes the Senate and the House are the reason all that $$$$$ is being spent. Wonder how many other threads he'll pop in to excuse the chosen one.
So Congress that okays the budget and allocates funds for such are the reason that Obama spends monies. So what you are saying that obama is the Congress?
Moron... are you just acting stupid or are you REALLY this stupid.
The first TWO YEARS of the kenyan's REIGN, he had FULL CONTROL of BOTH HOUSES with DEM MAJORITIES.
Even under CBOs horse and buggy static scoring, Ryans budget does serve to get federal debt under control and avoid any debt crisis, putting federal debt held by the public on a declining path from 77% of GDP in 2013 to 62% by 2022. That debt continues on a sharp decline from there, as the long term effects of Ryans structural entitlement reforms phase in. Debt held by the public is reduced to 53% of GDP by 2030, 38% by 2040, and 10% by 2050. That means the national debt is all but paid off by 2050, and would be soon thereafter. In fact, under dynamic scoring it probably would be paid off by then.
At issue, however, will be both spending and revenues. So we’ll end by reminding readers that while spending as a percentage of GDP is running at the highest level since the 1940s, tax revenues are also low by historical standards. For fiscal 2009 and 2010, receipts were just 15.1 percent of GDP, and last year they inched up to 15.4 percent. They haven’t been that low since 1950. And prior to 2009, the average since the end of World War II was 17.8 percent.
good op/ed piece on Obama's spending. Here are some highlights, but much more in the piece.
President Obama: The Biggest Government Spender In World History - Forbes
The analysis by Internet commentator Rex Nutting on which Obama based his claim begins by telling us 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. Not exactly.
The previous administration, or President, proposes a budget. The previous Congress approves a budget. And what Congress approves can be radically different from what the President proposes.But for fiscal year 2009, President Bush in February, 2008 proposed a budget with just a 3% spending increase over the prior year. Fiscal year 2009 ran from October 1, 2008 until September 30, 2009. President Obamas term began on January 20, 2009.
Recall, however, that in 2008 Congress was controlled by Democrat majorities, with Nancy Pelosi as Speaker of the House, and the restless Senator Obama already running for President, just four years removed from his glorious career as a state Senator in the Illinois legislature. As Hans Bader reported on May 26 for the Washington Examiner, the budget approved and implemented by Pelosi, Obama and the rest of the Congressional Democrat majorities provided for a 17.9 percent increase in spending for fiscal 2009!
After just one year of the Obama spending binge, federal spending had already rocketed to 25.2% of GDP, the highest in American history except for World War II. That compares to 20.8% in 2008, and an average of 19.6% during Bushs two terms.President Obamas own 2013 budget shows that as a result federal debt held by the public will double during Obamas four years as President. That means in just one term President Obama will have increased the national debt as much as all prior Presidents, from George Washington to George Bush, combined.
Nevertheless, the spending Obama inherited was so high that even modest increases keep it at a level that is extraordinarily lofty by historical standards.Perhaps the most relevant measure of federal spending is how it compares with the nations total economic output, as measured by gross domestic product. And spending in fiscal 2009 hit 25.2 percent of GDP the highest since 1945.
Overrated TARP Effect
Some have claimed that the modest spending increases since fiscal 2009 are illusory, and Obamas spending has been masked by the way the government accounts for TARP spending. For example, Wall Street Journal columnist James Taranto wrote that TARP would have caused a sharp increase in 2009, followed by a sharp decrease in 2010.
Actually, not so much. A close look shows the TARP effect has been rather modest.
Spending on the TARP program turned out to be much less than the $700 billion originally authorized. Congress later reduced the authorization to $475 billion in the Dodd-Frank Wall Street Reform and Consumer Protection Act that Obama signed on July 21, 2010. And not all was spent in 2009.
Actual outlays for TARP in fiscal 2009 totaled $154 billion, according to the CBO. So the one-time bump in spending amounted to about 4 percent of fiscal 2009 spending.
Its true that money recovered since then is recorded as negative spending rather than as increased revenues. And that does artificially reduce Obamas spending figures but not by much.
TARP decreased federal spending by $108 billion in fiscal 2010 and $39 billion last year, according to the CBO. Those artificial reductions brought down federal spending by just 3 percent in fiscal 2010, and 1 percent in fiscal 2011. Even without those reductions, Obamas spending increases wouldnt come close to equaling the average annual increase under Bush.
ALL of Obama's spending has been to pay for what Bush didn't..
ALL of Obama's spending has been to pay for what Bush didn't..
Obamacare was Bush's idea?
So Congress that okays the budget and allocates funds for such are the reason that Obama spends monies. So what you are saying that obama is the Congress?
Moron... are you just acting stupid or are you REALLY this stupid.
The first TWO YEARS of the kenyan's REIGN, he had FULL CONTROL of BOTH HOUSES with DEM MAJORITIES.
ALL of Obama's spending has been to pay for what Bush didn't..
Obamacare was Bush's idea?
None of the charges for that has even kicked, lying asswipe.
