Thursday, May 24, 2012

Myth Busted. Obama Spends Less than Reagan, Bush 1, Clinton, Bush 2...

According to Market Watch

Obama's campaign is out now smashing the now commonly accepted myth that he's spending us into oblivion. It's the end of our country. But..well, I guess not.

Although there was a big stimulus bill under Obama, federal spending is rising at the slowest pace since Dwight Eisenhower brought the Korean War to an end in the 1950s.

Even hapless Herbert Hoover managed to increase spending more than Obama has.

In the 2009 fiscal year — the last of George W. Bush’s presidency — federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion. Check the official numbers at the Office of Management and Budget. 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%. There has been no huge increase in spending under the current president, despite what you hear.
I heard this on Randi Rhodes show today, where Lou Dobbs actually read the above exactly as written, "although there was a big stimulus," but went on to say the story didn't include..the stimulus.


  1. What you're leaving out of your idiotic analysis of the spending increases is the fact that the jump in Bush's last year was due to TARP, a "one time" infusion of cash into the economy. That "one time" infusion was turned into a permanent addition to the budget by Obama, so while technically his spending is only narrowly above Bush's last year, in all actuality it is FAR above Bush's spending. Nice way to twist the facts, though, for your less-than-reptile-intelligence readers.

  2. It's the freaking Teapublicans who twist the facts and pretend Obama's spending is out of control. Don't forget, Bush didn't include the cost of the Iraq war in his budget... Obama did.