Waving a planted press commentary, Obama recently claimed on the campaign stump, “federal spending since I took office has risen at the slowest pace of any President in almost 60 years.”
President Obama: The Biggest Government Spender In World History – Forbes
Obama has increased the national debt by about as much as all previous presidents combined. Next term he says he will fix the climate.
Bush was spending like a drunken sailor the last year of his term with TARP, bailouts, etc. So I suppose it is possible that Obama might be technically correct.
The deficit for fiscal 2008 was $407 billion. TARP was a one time expense pushed through Congress by Obama during the last few weeks before the election.
http://uspolitics.about.com/b/2008/09/10/us-budget-deficit-2008-double-2007.htm
The irony of your statement is that one of the factors that Obama uses to arrive at his bogus conclusion (and it is 100% bogus) is TARP itself: he counts TARP repayments as lowering spending.
The biggest factor is that he counts 2009 for George W. Bush, which is completely ridiculous. Not only had around merely 25% of the appropriations bills for that fiscal year been passed when Obama took office, but this assigns Obama’s ineffectual (except for larding up Democratic constituencies) “stimulus” spending to…wait for it…Bush.
To sum up: When you take all of Obama’s increased spending and assign it to Bush, then take all of the repayment of taxpayer-funded loans to wealthy bankers who screwed the financial system and assign that to Obama, you can get his numbers. If you believe him, you have been drinking the Kool-Aid for so long I’m shocked you’re still alive.
Andy, 1/2 of the TARP spending can be assigned to Bush, the second half was discretionary, and spent under Obama’s insistence.(350 billion) Essentially what Obama and money wizards of the left are doing is assigning all of the discretionary spending of 2009 and assigning it to Bush and then using 2009 as a baseline for comparison to the subsquent years. It’s another absurdity from the left. Most of the stimulus spending occurred in 2010 but we did manage to spend an additional $265 billion in 2009. Both the 2nd half of TARP and stimulus is uniquely Obama’s spending, which they are assigning to Bush’s 2009 budget. I broke it down for people a few weeks ago. http://suyts.wordpress.com/2012/05/24/more-absurdities-from-the-left/
The bottom line is Bush accumulated $5 trillion in debt over 8 years. That’s deplorable. Obama managed to equal that in 3 years. It’s difficult for me to believe this wasn’t an intentional ploy to further weaken the U.S. That maniac has done nothing but harm this nation. Economically, socially, and militarily.
The
Obama has made Bush’s reckless spending look insignificant. Obama has condemned America to a future of high inflation, low growth, no jobs and eventually a failure of the American dollar. He’s stopped America from venting C02 into the atmosphere by ruining the economy. Destruction of the America is what the Green ecofascists have wanted all along. Obama is giving them their wish.
Why would Green ecofascists want the destruction of America? Excuse me, but do you have sources to back up your claim?
Duh ! The Greens have stated time and time again they want to reduce the global population to one billion or even less and destroy the modern economies of the world because in their sick minds, it’s the only way to save the world from a supposed global warming holocaust. The green movement is a cult of dictatorship and death.
JUST A FEW THINGS TO NOTE –
Lets explore some of Obama’s historic achievements, and his definition of “change” becomes clearer.
Unemployed College Graduates: First time in US history – more jobless people who attended college (and gained at least one qualification) than those who didn’t.
Poverty: Todays US poverty rate is the highest ever rate! All prior Presidents failed to plunge more families into poverty than Obama.
Food Stamps: All records broken for doling out food stamps. Before Obama got in office – $39 billion for food stamp recipients. In 2012, $81 billion from taxpayers is now spent on food stamps.
Unemployment Rate: Unemployment is at 11%. The decline of the US labor force during Obama’s Presidency has put us back to what it was in 1981. If we include people who are underemployed in today’s labor force, the unemployment rate is actually 14%. If we consider the BLS unemployment rate, which was 7.3% when Obama took office, it has remained above 8% throughout his Presidency and has remained high for the longest time – another recorded.
Economic Recovery: In 2008 under President Bush, TARP was a massive, and a deceptive spending bill designed to avert a professed financial collapse when the Carter-Clinton-Cuomo “Community Reinvestment Act” was failing. Just months later with Obama in 2009 signed (behind closed doors), the largest Stimulus spending bill in US history, plus other 2009 spending bills passed by the Democrat-controlled House and Senate totaling $4+ trillion. Despite the most massive government spending in one year by President Obama’s administration it is still a poor economic recovery. Obama’s has ensured, since the Harry Reid-controlled Senate has refused to pass a budget, continuing resolutions have refunded all of those bills. Thats each year the 2009 $4+ trillion spending bills, get refunded every year (so we’ve had 4 Obama Stimuli since he took office). Truly historic.
Household Net Worth: “The Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010.
Gas Prices: The nationwide average was $1.84 per gallon of regular gas when Obama took office. Obama said that under his plan, energy prices would necessarily skyrocket. They have.
Food Prices: Compared to four years ago a family’s food expenses have risen – a direct consequence of ” energy prices would necessarily skyrocket”
Corporate Tax Rate: Since Obama came to office the US has the highest corporate income tax rate in the industrialized world! With ever increasing cost of overheads (a direct consequence of “energy prices would necessarily skyrocket”) businesses are employing fewer, making less profit, and finding it harder to make a profit. Many just quit USA and go abroad.
National Debt: The Obama administration has spent more of our tax money than any head-of-state in the history of the world. In less than 4 years, Obama succeeded in over-spending by over $5 trillion, causing our national debt to rise beyond our yearly US GDP. [Note: National Debt was $10.6 trillion when Obama took office; it’s now nearly $16 trillion]. In addition, the amount of US Debt held by the Federal Reserve (a private banking cartel) increased by a historic 452% under Obama and now sits at $1.688 Trillion.
US Credit Rating: America has lost our AAA credit rating during this administration. This is historic.
Industry Takeovers: Food, healthcare, banks, student loans, energy, land, homes, farms, cars, water, the internet, the media and many others have been removed from the private sector. In addition to nationalizing numerous industries, this administration has hampered the natural workings of free market system.
Small Businesses: Bush opened the door for Obama to take over the auto industry and dealerships were forced to close? Obama hand-picked and dictated the closure of dealerships owned by people who leaned ‘right’ politically. From the start of Obama’s Presidency, small businesses have been hampered by burdensome regulations, e.g. Cass Sunstein that prevent people from even starting a business, to the outrageous assault against Gibson Guitars, to all the people this Administration put out of business (fishermen, farmers, workers in the oil, coal and natural gas industry, retailers, restaurants, etc.), Obama has waged a historic war against small businesses and has done a spectacular job of de-industrializing America.
United Nations: President Obama is the first ever US President to preside over the United Nations.
Reblogged this on Climate Ponderings.
“Next term he says he will fix the climate.” The dumb cluck doesn’t get it, the fabricated hockey stick has been debunked, and so current temps are not in any way unusual. The upshot of this: there’s nothing wrong with the climate. The climate is not broken. Don’t try to fix what isn’t broken.
“The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.” H.L. Mencken
In a true communist state the people have no choice but to obey the dictator of the communist party. The American constitution can only be amended by 2/3 of congress and 3/4 of the states voting and ratifying the amendment. Thus the rule of ” of the people, by the people, for the people, shall not perish from the earth” would be destroyed under communist rule.
A WORLD CLASS LIAR passes JUDGEMENT on DONALD STERLING – Well isn’t
that SPECIAL
http://sandrarose.com/2013/12/president-obama-wins-liar-of-the-year-award/
PRESIDENT OBAMA’s 9 BIGGEST LIES to U.S.:
http://www.ijreview.com/2012/08/14581-president-obamas-top-ten-biggest-lies/
NATIONAL ASSOCIATION for the ASSOCIATION of WHITE PEOPLE!