President Obama has now come out with the latest re-election slogun to thwart his Administration’s record. He is proudly stating
There is no question that federal spending has barely risen since President Obama has taken office. It has firmly remained at about $3.5 trillion per year, adding at least $1.1 trillion in debt each year. The total accumulation of debt under President Obama exceeds that of any other President in 1 term. In 3 years $5 trillion has been added to the national debt, exceeding his predecessor by $1 trillion in debt in less than half the time in office.
Look at it from terms of size of the debt relative to the nation’s gross domestic product. That’s what Politifact did in looking at the Pants-on-Fire chart from Rep. Nancy Pelosi stating President Obama as the President with the least impact on public debt (a chart they state, “We find so much wrong with this chart that we don’t think it contains any significant approximation of the truth”). After debunking her mislabeled and erroneous chart, Politifact looked to the Office of Management and Budget (OMB) to get an accurrate view, the result of which was
“Reagan: Up 14.9 percentage points
George H.W. Bush: Up 7.1 percentage points
Clinton: Down 13.4 percentage points
George W. Bush: Up 5.6 percentage points
Obama: Up 21.9 percentage points (through December 2010 only)
…Obama is the undisputed debt king of the last five presidents, rather than the guy who added a piddling amount to the debt, as Pelosi’s chart suggested.”
So President Obama is trying to take a victory lap on spending the most of any President per year ever. He wants to be re-elected because his spending is steady at a rate never before seen. He is standing proud on a debt level, that in comparison to (in his own words) his predecessor is “unpatriotic”.
In doing so, President Obama has also forgotten his pledge to cut the deficit in half in his first term in office. A pledge made in his 2008 Presidential campaign, and long ago proven impossible to achieve even if he were to be in office another term – as the White House has proven by its own projections through 2022,
The federal budget sent to Congress last month by Mr. Obama, projects the National Debt will continue to rise as far as the eye can see. The budget shows the Debt hitting $16.3 trillion in 2012, $17.5 trillion in 2013 and $25.9 trillion in 2022.”
Thus, if President Obama is not a big spender, what is the definition of big spending to him? More importantly, if spending in excess of what is earned and increasing the national debt at a rate that is historic is not worthy of concern what might a term-locked President do?
We would suggest that in the future, President Obama should not advise the public to think about his budget (which has not passed Congress since he took office, even with a supermajority), the national debt, or the increase in either. Those thoughts, when made with facts, do not shine a positive light, nor motivate anyone to re-elect him. A thought he realized in 2009, but somehow has forgotten today.
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