Posted on 2/3/2010, 11:53:04 AM by IbJensen
(CNSNews.com) - In his budget message to Congress Monday, President Barack Obama said, “Already, we have made historic strides … to cut wasteful spending.” He made the comment while presenting a budget proposal that for the second year in a row would fix federal spending at a percentage of Gross Domestic Product that is higher than at any time in the past 65 years.
In both fiscal 2010 and fiscal 2011, Obama’s budgets would have the federal government spend more than a quarter of the all the wealth produced by the nation in that year.
No president since Franklin Delano Roosevelt has consumed such a large a share of the nation’s wealth through federal spending—and FDR did it in the midst of World War II.
According to the historical tables that the White House released with President Obama’s budget yesterday, the federal government will spend 25.4 percent of GDP in fiscal 2010, the federal budget year that will end on September 30. Under the new budget that Obama is proposing for fiscal year 2011, the federal government will spend 25.1 percent of GDP in fiscal 2011, which begins on October 1.
Both of these budgets fall wholly within Obama’s term of office and would be approved by a Democratic Party that controls both houses of Congress.
By comparison, in fiscal 2002 and fiscal 2003, the first two years in which President George W. Bush presented budgets to Congress, federal spending ended up being 19.1 percent and 19.7 percent of GDP, respectively.
In the first two Obama budgets, spending has averaged 25.25 percent of GDP. In the first two Bush budgets, spending averaged 19.4 percent of GDP. That means that Obama, so far, is spending 30 percent more of GDP per year than Bush.
In 2008, Bush’s final full year in office, federal spending was 20.7 percent of GDP. According to the budget projections released by the White House on Monday, federal spending will be 23.2 percent of GDP in 2012, the lowest rate for any of the four years of President Obama’s term. As the White House now calculates it, Obama will easily be the biggest spending president since World War II.
By comparison, FDR spent only 10.7 percent and 9.2 percent of GDP in 1934 and 1935, his second and third years of office, during the Great Depression.
This year, Obama will spend almost three times as much of the national wealth as FDR did in 1935.
Historic? More like hysterical.
What I find utterly galling is the ease with which this man lies. He is so accustomed to his lapdog press corps accepting unquestioningly his preposterous claims that he no longer knows how to blush at his own audacity — the audacity of a pig in a poke.
How can Obamination make such boldface lying statements that have absolutely no basis in reality....???
MAY THIS EVIL MAN BURN IN HELL.
Our founding fathers are spinning in their graves and liberals have become agents of evil.
You have done nothing but make historic strides towards permanently ruining this country and all of the values for which it has stood.
You lie.
I think he is on crack.
Their dominant positions in Congress have allowed them to funnel massive amounts of money away from the "wasteful" Republican distrincts, and into the "unwasteful" Democrat districts.
Where?
The “ magic nigro “ is a damned LIAR.
FUBO
hey obama...fetch me some coffee!
He must be referring to the 9000 earmarks in the bill he recetly signed.
‘How many fingers am I holding up, America?’
‘Four.’
‘And if the party says that it is not four but five — then how many?’
...and while you’re at it, shine those shoes!
Jeesh!!How doeas anybody blab that nonsense in public...from the White House...and is able to face their fellow American?...
Some of this is the fault of We the People who have been careless enough with our oversight of our gov’mnt.
Brack’s claim is classic Chicago tactics. He found a fractional savings compared to the spending and taxes he is going to try to impose upon us. It works in a one party town like Chicago, but I dearly hope that it fails on the big stage or we are so screwed.
obama has become a caricature of the typical lying politician. His lies are so outrageous they have passed through the typical political lies, through mean lies, through insultingly obvious lies. obamas lies are now so bald-faces, so obvious, I don't know how the little socialist delivers them without bursting out laughing. Seriously, didn't everyone laugh out loud at this suggestion?
obama is running up record deficits and his last budget had 8000+ earmarks in it (in spite of a promise to eliminate same). obama is the worst President, ever. He literally seems to lie every time he opens his mouth. I'm sure he'll be remembered as the worst President for a number of reasons, but being the liar-in-chief will surely be one of them.
He is a liar on par with Bill Klinton, and that is saying something. How stupid does he think we are? Cut wasteful spending? He is the worst spender in American history.
The Obamaloon could spend the entire national debt and still couldn’t purchase a clue.
Delusional?
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