U.S. President Barack Obama (front R) shakes hands with well-wishers upon his arrival in San Jose, California May 23, 2012. Obama will hold two fund raising events before heading to Iowa on Thursday. REUTERS/Kevin Lamarque
Posted on 05/23/2012 7:14:21 PM PDT by NormsRevenge
COLORADO SPRINGS, Colo. - At a fundraiser for his re-election campaign in Denver tonight, President Obama set out to upend conventional Republican wisdom that his administration has been defined by excessive government spending.
"I'm running to pay down our debt in a way that's balanced and responsible. After inheriting a $1 trillion deficit, I signed $2 trillion of spending cuts into law," he told a crowd of donors at the Hyatt Regency. "My opponent won't admit it, but it's starting to appear in places, like real liberal outlets, like the Wall Street Journal: Since I've been president, federal spending has risen at the lowest pace in nearly 60 years. Think about that."
Obama was referring to an analysis released this week by Rex Nutting, a reporter for CBS MarketWatch who is also affiliated with the Wall Street Journal. Nutting concluded that Obama has presided over the slowest growth in federal spending in decades.
"Government spending under Obama, including his signature stimulus bill, is rising at a 1.4 percent annualized pace - slower than at any time in nearly 60 years," Nutting wrote, citing data from the Congressional Budget Office, Office of Management and Budget and an independent financial firm.
"The big surge in federal spending happened in fiscal 2009, before Obama took office. Since then, spending growth has been relatively flat," he wrote. "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 percent. There has been no huge increase in spending under the current president, despite what you hear."
(Excerpt) Read more at news.yahoo.com ...
No. You're an embarassment.
Colorado today Silicon Valley overnighter-fundraisers 40K a plate a splash at the FoX Theater
Fundraising is not for the weary, yaknow
U.S. President Barack Obama (front R) shakes hands with well-wishers upon his arrival in San Jose, California May 23, 2012. Obama will hold two fund raising events before heading to Iowa on Thursday. REUTERS/Kevin Lamarque
It is way too easy to expose the accounting trick they used to try to make this stupid argument.
Baseline budgeting. I projected a 50 trillion dollar debt, but I only spent 25 trillion, so I saved 25 trillion. Re-elect me.
U.S. President Barack Obama speaks at a campaign fund raising event in Denver, Colorado May 23, 2012. REUTERS/Kevin Lamarque
Liar, Liar, Pants on Fire.
unbelievable
said with a straight face ? The man is insane
Ask Bill Clinton if you have any questions what 'is' is.
U.S. President Barack Obama applauds next to Missouri Governor Jay Nixon (2nd L) at the 2012 Joplin High School commencement ceremony inside the Leggett and Plant Athletic Center at Missouri Southern State University in Joplin, Missouri, May 21, 2012. REUTERS/Larry Downing
That Rex Nutting(or Nothing as some call him)tried to convince readers that Obama was a fiscal conservative compared to Bush. Fortunately, the great majority of commenters on the article were wise to these stupid accounting tricks by Nutting, and called him on it. The lib commenters tried to counter that Politifact claimed this was “mostly true” but that argument was also shot down.
Debt under OBAMA has increased six trillion. He and his party are to blame. Period.
I’m not an over-spender but I can’t remember the last time I flew off on AF-1 on a date night to Paris and dined on lobster.
He's talking about the rate of increase.
If you spend a 500 billion over the 500 billion you spent last year, that's 100% increase. If you spend 500 billion more the next year, you have a 50% increase over the previous. See? Progress!
Let's see: before 'bam got in, we had eight years of Dem congress and house. Call them the Pelosi years.
We also had a little problem to straighten out with some Muslims. Seems they wanted to kill all of us.
Bush got the muslim thing more or less stabilized.
This was after Silicon Valley's bubble popped, by the way.
Then the bank crises hit. Maybe Bush should have let them crash and burn. I dunno.
Then came 'bam and he commenced to stimulate things.
He got real frugal with the Military budget and NASA, but less so with his social engineering plans. Not much to show for the stimulus.
The Dems kept both houses and they ramrodded Obamacare through.
But that hasn't started yet.
Nope, these programs are post-dated and will only hit next year. And they'll hit like a freight-train.
Spending cuts. Constitutionally, the budget goes year-by-year except for the Navy, which is a 2 year cycle.
So when a president or Congress promises future spending cuts, it’s fantasy.
Imagine Jimmy Carter specified 30 Billion in spending cuts, to be effective 33 years later, would Obama and Congress be held to that? Heck no. Even spending cuts promised three years out have no meaning.
When, ever, has a promised future spending cut materialized?
Yes they think we are that stupid, it’s worked for over 40 years. We ARE that stupid. We elect them!
Obama took the one time outlay of TARP and made it the new norm. Simple as that.
Very easy for Repubs to mock.
Just yours and Michelle’s outlandishly lavish vacations alone have been OUTRAGEOUS in the face of what this country has been going through. - May these lies return in your face like boomerangs and hit like a hundred pound blivit!
(Twinkie to Obama)
Spinning like a whirling dervish. It’s a wonder he doesn’t end up as a puddle of butter.FUBO.
(Source: media.photobucket.com)
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