Friday, May 25, 2012

Believe it. Obama’s A Big Spender.

The Foundry  "You can see the proof for yourself in Heritage’s 2012 edition of the Federal Budget in Pictures. Of the last ten presidents, going back to John F. Kennedy, president Obama’s budget deficits as a percentage of GDP have exploded. And if you take a look at where spending is headed under President Obama’s budget, you’ll see that the country’s debt crisis just keeps getting worse. The President’s FY 2013 budget would increase the debt to 76.5 percent of GDP by 2022, despite $2 trillion in tax hikes. That’s not “fiscal restraint,” no matter how you slice it."
The Truth about President Obama’s Skyrocketing Spending  "Spending has skyrocketed under President Obama, but of late some are claiming that the opposite is true. Case in point: MarketWatch columnist Rex Nutting wrote, “Obama spending binge never happened,” andPolitifact rated this statement “mostly true.” "


Real federal deficit dwarfs official tally  "The typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, a USA TODAY analysis finds." Via Boortz
Political Cartoons by Ken Catalino


CNN Fails to Refute Bogus Numbers Claiming 'Obama Spending Binge Never Happened'  "And this Investor's Business Daily piece offers another smack-down of the numbers. The editorial argues that since TARP was a loan but was included in the budget outlays, and since much of the bailout money for Fannie and Freddie was spent in 2009, spending under Bush was "exaggerated" when the TARP money was loaned out and Obama's spending hikes were blurred when the loans were paid back and the bailouts subsided.
"[W]hen you fix Nutting's mistakes, it turns out that Obama jacked up spending 12 percent in 2010, IBD argues"
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