Government Spending

[ericadawn16]

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.

Most importantly, the President has a balanced plan that would cut deficits by over $4 trillion over the next decade, including the spending cuts he has already signed into law that will bring discretionary spending to its lowest levels as a share of the economy since the Eisenhower Administration.

http://www.attackwatch.com/wall-street-journals-market-watch-obama-spending-binge-never-happened?source=em12_20120526_sc_tt&utm_medium=email&utm_source=obama&utm_campaign=em12_20120526_sc_tt

Comments

[viomisehunt.livejournal.com]

Yup. And there was nothing left to spend anyway.

[surreal-44.livejournal.com]

Has Obama even passed a budget as President yet?

Read this: http://www.freerepublic.com/focus/bloggers/2889113/posts

[gonzo21.livejournal.com]

Sadly the Bush election campaigns proved to the Republicans that they don't have to be factually accurate, so long as they have Fox repeat whatever lies they want, enough people will believe them.

It's why I think Obama and his people have missed a serious trick by n ot investigating Murdoch and Fox under the organised crime acts America has on the books, which have a really good chance of letting the Federal government confiscate Fox and sell it to a different broadcaster.

[cp.livejournal.com]

I think what most strikes me is that the GOP is getting away with such brazen hypocrisy, in this as in many other things. Reagan single-handedly doubled 200+ years of federal debt, then Bush I added more--Clinton got us back to a budget surplus, only to have Bush II almost double the debt again. So now, suddenly, the GOP are pretending to be deficit hawks. But as you point out, not only has federal spending been relatively low under Obama (and far TOO low, since we need more gov't spending to stimulate employment and the economy at large), what's the GOP alternative? LARGER deficits under the Ryan budget plan, which Romney seems to support.

And then there's Obamacare, which the GOP loves to hate even though it was originally their idea. They talk about "Repeal and Replace", but there's no real plan for what they intend to replace it with.

Gah. The GOP is bad enough on their own, but the fact that they are still taken seriously by so many, and not laughed out the door for claiming our current woes aren't largely the result of their own failed policies (which they naturally want to double-down on) is just mind-boggling.

[i-llbedammned.livejournal.com]

If only the politcal parties could agree to a budget so that we could make more progress forward. Obama is doing a good job with it, but there's only so much you can do when people won't work together.

[ericadawn16.livejournal.com]

Yep, exactly...