(Wailer @ Feb. 05 2013, 9:02 am)

QUOTE

Why does it say "2009 stimulus reassigned to Obama" at the bottom. Does this mean they added in the stimulus money we often say should be attributed to Bush so his growth rate would look smaller? If so, I would rather see part of that money taken out and assigned to Bush. I appreciate the fact that the numbers would still likely show Obama in the same ball park as the others, but you can't have it both ways - take the money out when you want to show actual spending dollars and then put it back in when you want to show growth (or lack thereof). Perhaps they did this, just to make the numbers more comparable amongst the presidents without having to go back and decide how different values would be assigned to different president's begining and end of terms.

If this is not what is happening here, I stand proactively corrected.

QUOTE

The first year of any incoming president term is saddled—for better or for worse—with the budget set by the president whom immediately precedes the new occupant of the White House. Indeed, not only was the 2009 budget the property of George W. Bush—and passed by the 2008 Congress—it was in effect four months before Barack Obama took the oath of office.

Accordingly, the first budget that can be blamed on our current president began in 2010 with the budgets running through and including including fiscal year 2013 standing as charges on the Obama account, even if a President Willard M. Romney takes over the office on January 20, 2013.

QUOTE

Here are the facts, according to the official government statistics:

• In the 2009 fiscal year — the last of George W. Bush’s presidency — federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion. Check the official numbers at the Office of Management and Budget.


• In fiscal 2010 — the first budget under Obama — spending fell 1.8% to $3.46 trillion.

• In fiscal 2011, spending rose 4.3% to $3.60 trillion.

• In fiscal 2012, spending is set to rise 0.7% to $3.63 trillion, according to the Congressional Budget Office’s estimate of the budget that was agreed to last August.

• Finally in fiscal 2013 — the final budget of Obama’s term — spending is scheduled to fall 1.3% to $3.58 trillion. Read the CBO’s latest budget outlook.

Over Obama’s four budget years, federal spending is on track to rise from $3.52 trillion to $3.58 trillion, an annualized increase of just 0.4%.

There has been no huge increase in spending under the current president, despite what you hear.

Why do people think Obama has spent like a drunken sailor? It’s in part because of a fundamental misunderstanding of the federal budget.

What people forget (or never knew) is that the first year of every presidential term starts with a budget approved by the previous administration and Congress. The president only begins to shape the budget in his second year. It takes time to develop a budget and steer it through Congress — especially in these days of congressional gridlock.

The 2009 fiscal year, which Republicans count as part of Obama’s legacy, began four months before Obama moved into the White House. The major spending decisions in the 2009 fiscal year were made by George W. Bush and the previous Congress.

Like a relief pitcher who comes into the game with the bases loaded, Obama came in with a budget in place that called for spending to increase by hundreds of billions of dollars in response to the worst economic and financial calamity in generations.

QUOTE

• In the 2009 fiscal year — the last of George W. Bush’s presidency — federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion. Check the official numbers at the Office of Management and Budget.

(Ben2World @ Feb. 04 2013, 10:22 pm)

QUOTE

My question to the GOP is why they tried to finance the wars against Afghanistan and Iraq with tax cuts?  And why weren't Tea Partyers mad about this back then?

(Ben2World @ Feb. 04 2013, 10:22 pm)

QUOTE

So kudos to Obama and the Democrats -- but I still would like to see actual spending cuts -- not just a slowdown in spending growth.  And paying down some of the accumulated debt too.

QUOTE

It’s hard to turn on your TV or read an editorial page these days without encountering someone declaring, with an air of great seriousness, that excessive spending and the resulting budget deficit is our biggest problem. Such declarations are rarely accompanied by any argument about why we should believe this; it’s supposed to be part of what everyone knows.

This is, however, a case in which what everyone knows just ain’t so. The budget deficit isn’t our biggest problem, by a long shot. Furthermore, it’s a problem that is already, to a large degree, solved. The medium-term budget outlook isn’t great, but it’s not terrible either — and the long-term outlook gets much more attention than it should.

It’s true that right now we have a large federal budget deficit. But that deficit is mainly the result of a depressed economy — and you’re actually supposed to run deficits in a depressed economy to help support overall demand. The deficit will come down as the economy recovers: Revenue will rise while some categories of spending, such as unemployment benefits, will fall. Indeed, that’s already happening. (And similar things are happening at the state and local levels — for example, California appears to be back in budget surplus.)

(Gabby @ Feb. 05 2013, 9:07 am)

QUOTE

And that would be, primarily, because the GOP has no "fiscal responsibility" whatsoever - but you knew that, didn't you?

(Gabby @ Feb. 05 2013, 9:07 am)

QUOTE

It’s true that right now we have a large federal budget deficit. But that deficit is mainly the result of a depressed economy — and you’re actually supposed to run deficits in a depressed economy to help support overall demand. The deficit will come down as the economy recovers: Revenue will rise while some categories of spending, such as unemployment benefits, will fall. Indeed, that’s already happening. (And similar things are happening at the state and local levels — for example, California appears to be back in budget surplus.)

QUOTE

I support the current GOP stance of fiscal responsibility!!!

(Squaretop @ Feb. 07 2013, 1:49 pm)

QUOTE

that's a bunch of horse hockeys.  No kidding.  If you believe that ...................