Posted on 05/23/2012 5:59:21 AM PDT by needmorePaine
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.
(Excerpt) Read more at articles.marketwatch.com ...
Put down the bong Rex!
Obama budget?? I must have been taking a nap when that was passed. In fact, when did Obama ever have his budget passed?
On the other hand, the dodge that Obama is not responsible for the mountains of debt because Bush was actually behind the debt is also wrong because the mountain of debt did not occur!
Next up on the liberal channel, "The Holocaust - Did it Really Occur?"
Total Federal Expenditures
2012 $3.796 trillion
2011 $3.360 trillion
2010 $3.721 trillion
2009 $3.518 trillion
2008 $2.9 trillion
2007 $2.73 trillion
2006 $2.66 trillion
2005 $2.4 trillion
In other words, federal spending over these four terrible Obama years is up 35% from Bush’s already excessive 2005-2008 spending, but it’s not a “spending binge” because Obama jumped his spending all at once and then kept it high. Someone in this discussion sees responsible spending very differently from how I see it.
I don’t understand how any of these claims can be taken seriously when congress hasn’t passed a budget since this kid took office.
“Bush did it”
Wow! That is one of the most dis-ingenious articles I have read in a LONG time. Prepare to see liberals touting that chart EVERYWHERE!
What he conveniently leaves OUT of the article is: the fact that DEMOCRATS were in charge of the Congress since 2006. That BIG increase in the 2009 Fiscal budget was passed by DEMOCRATS, not George Bush... and, Obama ADDED a billion dollars to it when he showed up.
Spending RESTRAINT began when the Republicans took back control of the House.
So... yippee. The R Revolution was able to prevent FURTHER dramatic increases... on an already HYPER-INCREASED spending level. And, we’re supposed to celebrate that?
I said, in a post LONG ago... that one of the worst things about the “stimulus” bill would be: it would set a new, higher baseline that Washington will use to justify continuation of spending at that level.
yep... here we are.
Rex Nutting, shilling for Zero in the WSJ. Thanks needmorePaine.
First off, I don't care if Federal Spending is rising a 0.00000001% year to year or 1,000,000% year to year. I don't want it rising at all, period. The Federal government is too big, and intruding on far too many aspects of our lives, trampling on too many of our freedoms. I don't want some political flunky deciding if my wife gets a mamogram or not. I don't want some hack deciding how much water my toilet can use per flush. If I want to buy and use 5 gal/flush, that's my business, my choice, my freedom. Etc. etc. The government is already telling us, in far too much detail, how to live our lives. Sure, "its for your own good" - too bad, you're not my Mother, it is not your job to look out for my welfare. Nor is it my job (nor financial responsibility) to look out for yours. As a Christian and all-around nice guy I'll help out a friend/neighbor in need (BTDT) - but it should be my choice, my freedom to do so. Not some far-off government goon with different priorities, morals, and agenda with funds he/she has confiscated from me.
Enough of the rant. Let's look at the latest political lie from the left here. So, they want to just completely discount the stimulus. Old news, forget about it. Ah, no. That was what, nearly A TRILLION DOLLARS!? That's a little above my impulse buy threshold, a few too many zeros to forget about.
As for the "rising at the slowest pace" I don't believe that unless they've played with the numbers. Maybe they looked at just the federal budget? Oh wait, they couldn't do that, the Democratically controlled Congress never sent one to the President. Maybe they looked at the last budget passed, and are extrapolating from there. Not counting all the other spending bills that are off-budget. Or maybe they're looking at the rise in spending amortized over the already bloated budget, or amortized over the population.
Whatever games with the numbers you want to play, the fact remains that hussein has multiplied our debt and deficits. He has blown money on political payoffs the likes of which have never been seen before on this scale. He is a known, demonstrable liar. America deserves better.
“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.”
This may be true, but I think they’re distorting the facts to make a political point. Isn’t the Obama deficit projected to be something like $1.5 trillion this year? I think that’s about the same as last year, so technically speaking, spending isn’t “rising” much year on year. This is like a citizen who earns $50,000 spending $75,000 per year. Sure, his spending isn’t rising, but he’s still adding $25,000 of debt year after year.
Would those intrusions include telling us:
which light bulbs to use,
how much water should go down the drain when we flush the toilet,
what medical procedures a Catholic hospital must pay for regardless of their beliefs,
how GM will be "saved" without regard to contract law and bankruptcy law,
how much food we can grow for our own consumption on our own agricultural land,
whether we are allowed to teach our children traditional Christian values,
that we are required to rent our rental property to unmarried couples and gay "couples",
whether we may choose to drink raw milk, whether we can bring our own decades-old guitars back into the country without paperwork on the origin of the wood,
and similar silliness that has nothing to do with the Enumerated Powers?
If so, then I'm with you.
From the Article:
• 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.
• In fiscal 2010 — the first budget under Obama — spending fell 1.8% to $3.46 trillion.
Let’s not forget that when Obama came into office the Dem House and Senate (111th Congress)passed the Omnibus Appropriation Act of 2009 which added $.41 trillion to “Bush’s” 2009 fiscal year totals.
That would change Bush’s 2009 increase to 4.4% ($2.98t to $3.11t) and Obama’s 1st year increase to 24% ($3.11t to $3.87t) Correct me if I’m wrong.
I think the big fy 2009 jump was due to TARP...a bipartisan boondoggle.
Rather thaqn being happy the Barry hasn’t increased spending much above that, the author should be astonished that TARP level spending is the new normal.
The growth rate may be 0% or whatever it is but Obama is still spending more than any president in history. For example:
3.56 trillion
3.561trillion
3.57 trillion
That gives a growth rate of ~ 0% yet the total amount of dollars spent is ~ 10.5 trillion. These numbers are similar to Obamas.
The author is either a blithering idiot or thinks his material is read by blithering idiots.
Put it down like hell - stop bogarting that magnificent stuff!
There was also the $787 Billion “stimulus” that was voted on in February of 2009.
Any way you shake it out, even if this author wants to place blame at the feet of George W Bush, he is completely ignoring the fact that the entire Congress was run by Democrats from 2007 to 2010. I would run with this fact in EVERY Presidential ad this year. Every poor economic metric can be directly traced back to when the Democrats took over spending in 2007.
The budget voted on in 2006 for FY2007 was:
Revenue - $2.57 trillion
Expenditures - $2.73 trillion
Deficit - $161 billion
Debt - $8.95 trillion
The budget voted on in 2009 for FY2010 was:
Revenue - $2.381 trillion
Expenditures - $3.552 trillion
Deficit - $1.171 trillion
Debt - $14.078 trillion
$5 TRILLION IN 3 YEARS! And it is even worse now. The Democrats cannot run from this.
By no means did Obama try to reverse that spending. Indeed, his budget proposals called for even more spending in subsequent years. But the Congress (mostly Republicans but many Democrats, too) stopped him.Republicans didn't take over the house until January 2011. The Democrats have taken to pretending that the Repubs were in control of the House throughout Obama's tenure.
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