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  • ourfirstpantroglodytepresident ourfirstpantroglodytepresident Oct 7, 2012 8:51 PM Flag

    Obama spending binge never happened....Government outlays rising at slowest pace since 1950s

    • 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.

    The problem with the 2009 budget is that Barack Obama became president in Jan-2009 and he collaborated on the budget after winning the election in Nov-2008. Furthermore, when unemployment reached 7.8% in Jan-2009 Obama proposed an $800 Billion Stimulus package that passed in Feb-2009 and became part of the 2009 fiscal year budget. As of Jan-2009 Obama & the democrats controlled both houses of congress. If Obama had problems with anything in the 2009 fiscal year budget, he could have and should have changed it.

    Further, the increase difference of about $540 billion (3.52 - 2.98 = 0.54) was about the price of the TARP program, which Obama & the Democrat Congress collaborated on and all agreed on.

    ******

    • 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.

    ******

    I believe the 2009 fiscal year budget was THE LAST BUDGET passed by congress. Again, Obama had control of both houses of Congress until Jan-2011 and he could have gotten budgets passed if he desired. He did not desire. And we had no budgets. He was busy pushing ObamaCare, golfing, campaigning or doing apologize for America global tours.

    The other problem here is that federal revenue persisted at around $2.2 trillion per year. Thus the annual deficit per year was:

    o 2010 =~ $1.26 trillion
    o 2011 =~ $1.40 trillion
    o 2012 =~ $1.43 trillion

    I am apparently over-estimating the annual revenue, since these deficits total to a little over $4.0 trillion and more like $5.0 trillion was added to the national debt. I am pretty sure the deficit for one year was somewhat over $1.6 trillion.

    The fact is these are the largest deficits in history, especially in a row. (As much as Democrats scream about Ronald Reagan, Regan's total deficit for eight years was less than Barack Obama's deficit for one year.)

    *****

    • 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.

    Once again, the final budget under Obama was for fiscal year 2009. The USA does not have a budget. Just rampant uncontrolled spending. The three biggest blocks have been: Barack Obama, Harry Reid & the Democrats in Congress. So what we have the CBO has estimated final SPENDING.

    Last I heard revenue was still around $2.2 trillion so Harry Reid & Barack Obama will give us a deficit this year of about $1.38 trillion. And if I recall correctly, the decrease in spending is due to the Republicans in the House.

    *****

    So what we have here is the CBO documenting Obama's abject failure as a president and as a leader.

    Sentiment: Strong Sell

 
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