As we prepare for tomorrow's State of the Union Speech, it is interesting to point out that during the campaign, President Obama took great lengths to express his opposition to an across the board spending freeze. He likened a freeze ... more As we prepare for tomorrow's State of the Union Speech, it is interesting to point out that during the campaign, President Obama took great lengths to express his opposition to an across the board spending freeze. He likened a freeze to using a hatchet while he wanted to take a scalpel to the federal budget.
During his first year in office, President Obama increased non-defense discretionary spending by 20% - the largest one year increase in over three decades. This is important because when he introduced his first budget a year ago, he promised to decrease discretionary spending.
Tomorrow night, we'll see exactly how small a scalpel the president wants to use against the budget. URL: www.realclearpolitics.com
Obama Shatters Spending Record for First-Year Presidents |
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. |
That price tag came with a $1.4 trillion deficit, nearly $1 trillion more than last year. The overall budget was about a half-trillion more than Bush’s for 2008, his final full fiscal year in office. |
The last president to clock in under $1 trillion was Gerald Ford, who logged a $982 billion budget in 1975. Post-war Dwight Eisenhower even brought Uncle Sam’s tab down to $556 billion in his first year, 1953. Read more at www.foxnews.com |
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