Epiphanyblog

All about ideas…

Obama Spending Lowest Since Eisenhower

with one comment

According to MarketWatch, Romney and the GOP claim that Obama spent recklessly and ballooned the deficit has blown up.

Chart showing federal spending under all Presidents back to Reagan

Government spending under Obama, including his signature stimulus bill, is rising at a 1.4% annualized pace — slower than at any time in nearly 60 years.

Almost everyone believes that Obama has presided over a massive increase in federal spending, an “inferno” of spending that threatens our jobs, our businesses and our children’s future. Even Democrats seem to think it’s true.

Government spending under Obama, including his signature stimulus bill, is rising at a 1.4% annualized pace — slower than at any time in nearly 60 years.

But it didn’t happen. 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.

Money quote:

After adjusting for inflation, spending under Obama is falling at a 1.4% annual pace — the first decline in real spending since the early 1970s, when Richard Nixon was retreating from the quagmire in Vietnam.

Now that myth has been blown up, I wonder what new attack the GOP will take.

Advertisements

Written by Valerie Curl

May 23, 2012 at 5:47 PM

One Response

Subscribe to comments with RSS.

  1. There’s certainly a lot to know about this subject. I really like all of the points you made.

    Guy

    August 5, 2013 at 3:52 PM


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: