Skip to comments.OMB: Obama Will Become First President to Spend $4T in One Year
Posted on 04/10/2013 8:56:37 AM PDT by Sub-Driver
OMB: Obama Will Become First President to Spend $4T in One Year April 10, 2013
In the historical tables it released along with President Barack Obama's fiscal 2014 budget proposal this morning, the White House Office of Management and Budget revealed that in fiscal 2016 it expects Obama to become the first president in the nation's history to preside over a federal government that spends more than $4 trillion in one year.
The OMB's historical tables also reveal that the White House does not expect this administration to ever run an annual deficit as low as $458.5 billion, which was the deficit the government ran in fiscal 2008, the last fiscal year completed before Obama took office.
According to OMB's tables, the federal government would spend$3.7778 trillion in fiscal 2014 under Obama's budget proposal. It would then spend $3.9801 trillion in fiscal 2015; $4.0898 trillion in fiscal 2016; and $4.2474 trillion in fiscal 2017.
Obama will leave office on Jan. 20, 2017, about four months into fiscal 2017.
In fiscal 2007, according to the OMB's tables, the federal government ran a deficit of $160.7 billion. In fiscal 2008, that climbed to $458.5 billion.
President Obama took office on Jan. 20, 2009, about four months into fiscal 2009. A Congress in which Obama sat had already enacted the $700 billion Troubled Asset Relief Program to bailout the financial industry. But, during the first month of Obama's first term, he signed an $830 billion stimulus bill.
In fiscal 2009, the government ended up running a deficit of $1.4126 trillion. In fiscal 2010, it ran a deficit of $1.2943 trillion; in fiscal 2011, it ran a deficit of $1.2995 trillion; in fiscal 2012, it ran a deficit of $1.0869 trillion; and, in fiscal 2013, OMB projects a $972.9 billion deficit.
(Excerpt) Read more at cnsnews.com ...
Tyrant Kim Un Hussein must be very pleased that his efforts to FUNDAMENTALLY CHANGE THE UNITED STATES OF AMERICA are progressing so easily.
it’s for the chillrun.
Indeed kings logic in play.
And it will be rejected 98-0.
NASA’s budget was 20 billion per year to get to the moon
Now, 4,000 billion is given by Obama to al Qaeda,
to bankers, to the Chicago mob, for parties, to mosques,
and NASA serves the desert and Moslem self esteem buildup.
The US military, a pale remnant of its past,
fawns over its new Islamic leaders.
Congress cashes its checks, and the borders are open.
“Obama Will Become First President to Spend $4T in One Year”
And I’m not getting a dime of it. What am I doing wrong?
Since there hasn’t been a budget passed since 2008, how do we know he hasn’t already done that...4 times?
I haven’t got a dime either, but I’m sure as heck paying for it.
IIRC, the last one was.
If you’re working, that’s a huge mistake.
so long as the concerts , dinners and vacations keep happening and the media gets away with ignoring this and the GOP stays silent for the cowards they are.
Then this will get worse and worse.
Last night the GOP should have been in front of the white house, calling a press conference and pointing out how this concerts is happening while you can’t get in the house you pay for and this after Bahamas, Aspen and golf while Americans die and fight and lose jobs and homes.
Exactly when will conservatives and the GOP get a grip and understand this is a war and we’re losing because many want to keep quiet and think they best not do things like being out of the white house as the concert was taking place.
He can’t spend anything unless John Boehner approves it. Remember that when he starts spending without any accountability whatsoever.
Last night the GOP should have been in front of the white house, calling a press conference and pointing out how this concerts is happening while you cant get in the house you pay for and this after Bahamas, Aspen and golf while Americans die and fight and lose jobs and homes.
Come on, you can’t be 2 places at once. They were enjoying the partayyyyyyyyy!!
Hmmmm, who took control of congress in 2007 and implemented their first budget in 2008?
The headline is just slightly wrong.
It should read: Obama will Become First President to Flush $4T of Taxpayers’ Hard-Earned Cash Down the Toilet in One Year.
“The GOP needs to be relegated to 3rd party status - when will the Conservative or Tea Party register as an official party?”
We need them for a little while longer in the house, and their doing a good job in many of our states.