Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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

Posted on 05/24/2012 1:25:51 PM PDT by 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.

(Excerpt) Read more at cnsnews.com ...


TOPICS: Front Page News; News/Current Events; Politics/Elections
KEYWORDS: mediawingofthednc; obama; obamadeficit; obamarecession; partisanmediashills; youlie
Navigation: use the links below to view more comments.
first previous 1-5051-62 last
To: Victor

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.


51 posted on 05/24/2012 3:37:09 PM PDT by BooBoo1000 (I don't know what the future holds, but I know who holds my future.,)
[ Post Reply | Private Reply | To 50 | View Replies]

To: John Semmens

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

: )


52 posted on 05/24/2012 3:49:04 PM PDT by TheConservativeParty ("War." Andrew Breitbart)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

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

http://www.nachumlist.com/


53 posted on 05/24/2012 4:02:22 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
[ Post Reply | Private Reply | To 50 | View Replies]

To: BooBoo1000

Pinocchio would be envious of his nose.


54 posted on 05/24/2012 4:02:22 PM PDT by kalee (The offenses we give, we write in the dust; Those we take, we engrave in marble. J Huett 1658)
[ Post Reply | Private Reply | To 51 | View Replies]

To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

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

http://www.nachumlist.com/


55 posted on 05/24/2012 4:03:12 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
[ Post Reply | Private Reply | To 50 | View Replies]

To: Nachum

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


56 posted on 05/24/2012 4:31:56 PM PDT by dalebert
[ Post Reply | Private Reply | To 55 | View Replies]

To: cartan

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.


57 posted on 05/24/2012 4:50:02 PM PDT by griswold3 (Big Government does not tolerate rivals.)
[ Post Reply | Private Reply | To 36 | View Replies]

To: Sub-Driver

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


58 posted on 05/24/2012 5:53:53 PM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Opinionated Blowhard
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).
59 posted on 05/24/2012 6:10:09 PM PDT by tanknetter
[ Post Reply | Private Reply | To 58 | View Replies]

To: Bryan24

“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.


60 posted on 05/25/2012 7:06:20 AM PDT by mongo141 (Revolution ver 2.0, just a matter of when, not a matter of if!)
[ Post Reply | Private Reply | To 44 | View Replies]

To: capt. norm

Bush signed things into law that he is to blame for being a part of...however, it’s extraordinary that the Senators and Representatives who voted to send it to his desk are now pointing fingers just at him. Obama is culpable for the legislation he voted “Aye” on as Senator - he shares the responsibility, and the things he inherited he inherited from his own party - and himself. The Senate Majority at that time was 51-49, with Obama and Biden being part of that working majority.


61 posted on 05/25/2012 8:27:36 PM PDT by Republican Wildcat
[ Post Reply | Private Reply | To 6 | View Replies]

To: Sub-Driver
Sooo, this means we still have our triple A rating right because we have to pay the gov immediately but the gov can default on interest of a LOAN??

What part of TAXED ENOUGH ALREADY doesn't make sense? What happened when socialists( "democratic progressives"), communists( supporting Obama), and just plain weird hippie screw nuts become the norm and we're the radicals? Isaiah 9:10 prophecies , nasty prophecies are coming to fruition.

62 posted on 05/27/2012 9:44:55 AM PDT by Karliner ( Jeremiah 29:11, Romans 8:28, Romans 8:38"...this is the end of the beginning."WC)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-5051-62 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson