Tag Archives: Deficit

Obama Shatters Spending Record for First-Year Presidents

$3.5 Trillion? Take this guy’s credit card away already. Enough is enough, and now he has the nerve to say we need to get spending under control? Here’s an idea; scrap the rest of the non-stimulus stimulus, cancel healthcare and Cap & Trade, and focus man, focus. Cut up the credit cards already. My great grand kids don’t want to pay for your irresponsibility.

Please leave home without it

The federal government spent $3.5 trillion during President Obama’s first year in office. This far exceeds the spending for any other first-year president. 

President Obama has shattered the budget record for first-year presidents — spending nearly double what his predecessor did when he came into office and far exceeding the first-year tabs for any other U.S. president in history. 

In fiscal 2009 the federal government spent $3.52 trillion — $2.8 trillion in 2000 dollars, which sets a benchmark for comparison. That fiscal year covered the last three-and-a-half months of George W. Bush’s term and the first eight-and-a-half months of Obama’s. 

Read the rest of the article here:

http://www.foxnews.com/politics/2009/11/24/obama-shatters-spending-record-year-presidents/

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Filed under Barack Obama, Economy

After spending binge, White House says it will focus on deficits

Wow, what a great idea. Run up the deficits and then focus on deficit reduction. Wait…what? Also, don’t think for a microsecond that this administration won’t do anything that will take the country out of crisis mode until a year before election time. Obama wants to be known as the savior who saves us from crisis even though he created the crisis. Read Rules for Radicals. Focus on deficit reduction? Riiight.

obama-deficit-cutting

Obama cutting the deficit

President Barack Obama plans to announce in next year’s State of the Union address that he wants to focus extensively on cutting the federal deficit in 2010 – and will downplay other new domestic spending beyond jobs programs, according to top aides involved in the planning.

The president’s plan, which the officials said was under discussion before this month’s Democratic election setbacks, represents both a practical and a political calculation by this White House.

On the practical side, Obama has spent more money on new programs in nine months than Bill Clinton did in eight years, pushing the annual deficit to $1.4 trillion. This leaves little room for big spending initiatives.

On the political side, Obama can help moderate Democrats avoid some tough votes in an election year and, perhaps more importantly, calm the nerves of independent voters who are voicing big concerns with the big spending and deficits. Even if Obama succeeds – and that’s a big if – it will be tough for many Democrats to sell themselves as deeply concerned about spending after voting for the stimulus, the bailouts, the health care legislation and a plan to address global warming, four enormous government programs.

Read the rest of the article here:

http://www.politico.com/news/stories/1109/29471.html

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Filed under Barack Obama