Spending Continues To Decline Under President Obama
More horrible news for the GOP! Only lies in their arsenal, nothing more.
"Our government has built up too much debt."
But government spending actually hasn't grown that much under Obama on an absolute basis. Government spending has grown 8 percent by that measure since President Barack Obama took office at the beginning of 2009, according to Commerce Department data. And as a share of real GDP, government spending has declined by 5 percent.
Also according to Commerce Department data, both in absolute terms and as a percent of GDP, the deficit peaked in 2009 but has been shrinking since then.
Yahoo scrubbed my earlier reply, I am guessing because I included a link to a Forbes magazine article from last May that documented that federal spending has grown more slowly under Obama than under any president since Eisenhower. Here are the numbers from the Forbes article:
Presidential Term /Annualized Rate of Spending Growth
Reagan 82-85 /8.75 %
Reagan 85-89 /4,9 %
Bush I 90-93 /5.4 %
Clinton 94-97 /3.2 %
Clinton 98-01 /3.9 %
Bush II 02-05 /7.3 %
Bush II 06-09 /8.1 %
Obama 10-13 /1.4 %
Not only is Obama growing spending at a far lower rate than any other President on this list, the Democrats (Obama and Clinton) grew spending at about half the rate of the Republicans.