Obama: “Since I’ve Been President, Federal Spending Has Risen at Lowest Pace in Nearly 60 Years’

CNSNews ^

[Sub-Driver]

Obama: “Since I’ve Been President, Federal Spending Has Risen at Lowest Pace in Nearly 60 Years’ By Terence P. Jeffrey May 24, 2012

(CNSNews.com) - President Barack Obama on Wednesday staked his claim to being the most effective fiscal conservative to serve in the White House in more than half a century.

“Since I’ve been President, federal spending has risen at the lowest pace in nearly 60 years,” Obama said at a campaign event in Denver, Colorado.

“Yes, we're going to streamline government,” Obama said. “There's more waste to be cut.”

Inaugurated in Jan. 20, 2009, Obama has now presided over the start of three fiscal years—2010, 2011, and 2012. According to the historical tables published by his own Office of Management and Budget, these are three of the only four fiscal years since the Japanese surrendered on Sept. 2, 1945, that the federal government has spent more than 24 percent of GDP.

The fourth fiscal year since the Japanese surrender in which the federal government spent more than 24 percent of GDP was 2009. That fiscal year started when George W. Bush was president and ended when Obama was president.

On the first day of fiscal 2009--which was Oct. 1, 2008--then-Sen. Obama voted for the $700-billion Troubled Asset Relief Program. In February 2009, after he became president and while his party controlled both houses of Congress, Obama signed a stimulus bill that the Congressional Budget Office has determined had a 10-year price tag of $831-billion.

In fiscal 2008, the federal government had spent 20.8 percent of GDP. But in fiscal 2009, buoyed in part by the TARP Obama voted for and the stimulus he signed, the federal government spent 25.2 percent of GDP--an increase of 21.2 percent from the year before.

[Licensed-To-Carry]

Hey Prez Numbnuts, don’t piss down my back and tell me it’s raining, you clown.

[skinndogNN]

This crap makes my head want to explode.

The original stimulus plan where he paid off all is cronies falls under Bush?

Dude, and Liberals are going to be spreading this out there.

[cicero2k]

Nice try zero. From the bar chart:

Pres	Factor	Years	Per	Infl	Net Inc. 
R	2.89	8	14.2%	4.7%	9.1%
B1	1.55	4	11.6%	2.6%	8.7%
C	1.37	8	4.0%	4.4%	-0.3%
B2	1.86	8	8.1%	2.9%	5.1%
O	1.35	2.25	14.3%	0.6%	13.6%

The columns are President, Factor of increase, Years as president, Per year increase (Obama more than Reagan), Inflation during the presidency, Net per year.

Obama more than the four previous presidencies.

He thinks this is going to be like another college application or book tour.

I have news for him.

[Bryan24]

Barak Obama, you are a bald-faced liar. Shameless, intentinally decietful.

L*I*E.

[CatherineofAragon]

I thought his doctor told him to stop hitting the bottle so often.

[Marathoner]

Good Lord, he is so full of s##t

[aruanan]

Except for WWI, a couple years following 1930, and WWII, there is no other continuously larger and sharper increase in spending as the two years the Democrats controlled both houses of Congress in 2009 and 2010.

[aruanan]

President Barack Obama on Wednesday staked his claim to being the most effective fiscal conservative to serve in the White House in more than half a century.

Uh huh. Obama added about 1.465 trillion in 2009 onto Bush's budget (designed and passed by Democrat controlled House and the Senate) for fiscal year 2009 and then took all that as the baseline for 2010 and years following. He's a lying sh-t.

[GoldenPup]

Obama: “Since I’ve Been President, Federal Spending Has Risen at Lowest Pace in Nearly 60 Years’

PATENT BULLSHIT!!

[Victor]

The problem here is that Obama's spending is a matter of public record.....

Team Romney has a cornucopia of ready made political commercials, if they are paying attention.

[BooBoo1000]

Why do people continue to read and publish this trash and b/S put out by “Old Worthless” he would not tell the truth if his life depended on it.Just a lying piece of crap.

[TheConservativeParty]

For a second there, I thought this was one of your titles.

: )

[Nachum]

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[kalee]

Pinocchio would be envious of his nose.

[Nachum]

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[dalebert]

is this a like@#!%!?&*

[griswold3]

http://www.usgovernmentrevenue.com/year_revenue_2008USbc_13bc1n#usgs302

All the Government Revenue you ever needed. Even though President Bush lowered Federal Taxes, State and Local taxes went up. In 2007, Total Tax Revenue was 38% of GDP.
Hauser’s Law proves that Federal Government Revenue averages 18% of GDP.

[Opinionated Blowhard]

I can’t imagine what he can grasp at as a basis to tell this lie.

[tanknetter]

I can’t imagine what he can grasp at as a basis to tell this lie.

It's not a lie, but does illustrate how statistics can be manipulated in all sorts of ways to arrive at a truth that fits one's narrative.

What Obama is doing is comparing his spending to the final year of the Bush Administration, including TARP and the other emergency measures. At face value the numbers do support his claim.

However, they don't tell the full story: that before his final year Bush had the budget growing at a slow enough pace that the annual deficit was decreasing, and that the massive increase in spending in the final Bush year was for TARP, which was a one-time emergency package that required REPAYMENT with interest (ref: stories that the Federal Government will turn a profit off of it when all is said and done).

[mongo141]

“Barak Obama, you are a bald-faced liar. Shameless, intentinally decietful.

L*I*E.”

__

True, but the really scary part is that line of B/S was not directed at people who know better, but at the idiots who voted for him the last time.