Hey Vince –great to hear from you yesterday! I find it hilarious how the Lame Stream MSM is out now trying to give Obama credit (just as Clinton and the Newt Congress) for the reduction being made in spending since taking over from the Pelosi dem Congress. Now Lame Stream MSM out reporting Obama has the lowest spending level of any President ever. They never seem to mention, once again just as under BOY CLINTON there is a Republican Congress. Just as the 'so called' surplus BOY CLINTON so brags of was under the Newt lead Repub Congress so are the current shifting trends downward on spending no thanks to Obama. Remember as we head into November dems have been in primary control for the last 100 years and handed us EVERY failed system and entitlement of today: 1913 dem Wilson Federal Reserve Bank CREATURE that lives on debt and has debt leveraged our currency to Zero intrinsic value, 1933 dem FDR failed SS ponzi, 1964 dem LBJ failed Meciare ponzi + failed Great Society welfare machine handing us 47% welfare class of today paying zero taxes and now Obama under the then Pelosi dem Congress more deficit than all prior Presidents combined. When I say failed I mean from the perspective of our nation and us, its citizens but not from the dem purpose of feeding massive debt loads to their CREATURE federal reserve bank on which it was designed to thrive. Now how stupid is that? We need a new system that runs on savings!! Dems must go and citizens must be on guard as the Lame Stream media will never report the facts that are in a any way anti-dem. Corrupt to the max!
Just saw on the news, the BO administration is spending $9.7 billion dollars a day. This is almost 4 times what Reagan was spending. The treasury must borrow $3.88 billion dollars every day to meet this expenditure. We are BK.
Facts are stubborn things. As Paul Krugman points out – Reagan spent SIGNIFICANTLY more than President Obama in real terms.
When Reagan took over – the deficit was $909 billion and it exploded to $2.6 trillion or 286% MORE than what he inherited.
To put that in comparison to Obama in terms of spending – he inherited a deficit of $10.4 trillion…and to increase the deficit as much as Reagan as a % – the deficit would have to be $29.8 trillion after 8 years.
And obviously – if Obama isn’t spending more than Reagan but we’re continuing to accrue large deficits….what do you think is causing that? Tax cuts.
Obama has passed more tax cuts than any other president in history and that is why revenues are so low…and that is a large part (but not all) of the reason that our deficits are so tremendous.
Obama is putting Keynesian economics to work to help put the economy back on firm fiscal footing to get out of the Bush era economic crisis that he was handed
If you forget the past you are doome to repeat it.
Of all the falsehoods told about President Barack Obama, the biggest whopper is the one about his reckless spending spree.
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.
• 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.
If you forget the past you are doomed to repeat it.