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Obama spending binge never happened (MARKET WATCH)

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posted on May, 23 2012 @ 01:14 PM
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Now, this is interesting.



WASHINGTON (MarketWatch) — Of all the falsehoods told about President Barack Obama, the biggest whopper is the one about his reckless spending spree. As would-be president Mitt Romney tells it: “I will lead us out of this debt and spending inferno.” 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. 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.
www.marketwatch.com...


www.marketwatch.com...

So it seems that Obama's spending habits have been slow, stagnant, in comparison to other administrations. It's not half as bad...nay, a fifth as bad as individuals say. It seems that internet rumors, plus a misunderstanding of how spending occurs has fueled inaccuracies and outright lies.

Looks like the figures tell the story. Interesting indeed.
Let's get some true investigation out there instead of biased attack based rhetoric.


edit on 23-5-2012 by TheOneElectric because: (no reason given)




posted on May, 23 2012 @ 01:22 PM
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Here ya go.....



edit on Thu May 24 2012 by DontTreadOnMe because: --Off Topic, One Liners and General Back Scratching Posts--



posted on May, 23 2012 @ 01:24 PM
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Yeah but, Breibart tells them otherwise. And hes communist, did you hear that one? Made me giggle.



posted on May, 23 2012 @ 01:26 PM
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off-topic post removed to prevent thread-drift


 



posted on May, 23 2012 @ 01:29 PM
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Mêh.. Truth is overrated. "Hype" is much cooler.


Interesting corroboration of the things I already thought.

( starting countdown towards the first poster to say:

A) Kenyan
B) Socialist
C) liberal
D) marxist

5..4..3..2..... )





posted on May, 23 2012 @ 01:35 PM
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Obama is currently spending 5 billion a day the national deficit has increased to 16 trillion when he took over it was 10 more than any president in Us History.

I really do love it when people try to play percentages as if it means anything fuzzy math is fuzzy.



posted on May, 23 2012 @ 01:48 PM
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So in 2008 the Gross Federal Debt was 10 trillion. In 2012 its projected to be 16 trillion. Yeah sure, he isn't spending money.



posted on May, 23 2012 @ 01:53 PM
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Come on! Numbers are like prisoners... you can get them to tell you anything if you torture them enough. Especially when it comes to percentages. Just look at what this administration has done with the enumployment numbers and how they have manipulated the percentages.

All of the cute charts don't mean a thing! All I need to look at is the increase in the federal debt under Obama - The largest in the history of the US under a single administration! So, if he's not spending these record setting debts, what's he doing with the money???



posted on May, 23 2012 @ 02:03 PM
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"He's spent more in real dollars than any other two administrations."
"But the percentage is the lowest EVER!"

Great argument. And Best. Doublespeak. Ever.

/TOA
edit on 23-5-2012 by The Old American because: (no reason given)



posted on May, 23 2012 @ 02:07 PM
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Current cbo projections at current spending levels put the national debt at over 21 trillion dollars which is 10 trillion more than from where he started of course that is if he get's another term.



posted on May, 23 2012 @ 10:22 PM
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You partisan types crack me up. And all the positive replies. :rolleyes: This is why we are in the mess we are. . .

I used to drink a six pack of beer every night then 2 years ago I started drinking a 12 pack every night. Last year I only got up to 14 beers a night. I'm soooo beating this alcoholism thing!



posted on May, 23 2012 @ 10:49 PM
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edit on Thu May 24 2012 by DontTreadOnMe because: --Off Topic, One Liners and General Back Scratching Posts--



posted on May, 23 2012 @ 10:53 PM
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reply to post by BlueStatePatriot
 




No bias in that graphic with zero comment..



 


folks ... both sides are and have been skewing numbers... don't fall for it.....




posted on May, 23 2012 @ 11:01 PM
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That really is one of the biggest jokes i have ever seen

From 2000-2006 stock market hit all time highs of 14,0000

88 million Americans are currently out of work

66 million are living off of Social Security with the average monthly check between 800-1000
50 million are living off of welfare

Hell just take a look at Democratic handy work

www.usdebtclock.org...

120 trillion of promises made that can never be paid for.
edit on 23-5-2012 by neo96 because: (no reason given)



posted on May, 23 2012 @ 11:04 PM
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Considering all the "Party of No" has done to work with the President i am really shocked!!



posted on May, 23 2012 @ 11:10 PM
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reply to post by neo96
 


Why are you bothered by the facts.

If you are angry then post some facts to the contrary.

Otherwise you look like you are retreating from the debate.

You should grow a backbone and post some facts.

First I suggest you read and then come here to attempt saving face



posted on May, 23 2012 @ 11:13 PM
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reply to post by BlueStatePatriot
 




Hilarious i provided facts and a link but hey never mind

Love the ad hominem.

Here:


The Dow Jones Industrial Average has broken through the 14,000 barrier for the first time after US inflation figures eased concern that the Federal Reserve may have to raise interest rates.


www.telegraph.co.uk...



Only 88.4 Million Americans Out of Work - An American Economic Depression Obama Style – Slow Jamming the Economy


lionsdenmedia.hubpages.com...

Oh and by the way a picture is not facts it's just a damn picture.

edit on 23-5-2012 by neo96 because: (no reason given)



posted on May, 23 2012 @ 11:44 PM
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Originally posted by neo96
Obama is currently spending 5 billion a day the national deficit has increased to 16 trillion when he took over it was 10 more than any president in Us History.

I really do love it when people try to play percentages as if it means anything fuzzy math is fuzzy.


Math is not fuzzy, it is precise and logical.

You are making things up



posted on May, 23 2012 @ 11:50 PM
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reply to post by Beanskinner
 


You'd be right if my name was Obama

But it ain't the facts are there and say otherwise.

www.usdebtclock.org...

Then click on the debt machine time clock on the upper right.

Current cbo projecfions for current spending levels in 2016 the us national debit will be over 21 trillion double what Obama started which means HE IS LYING.



posted on May, 24 2012 @ 12:14 AM
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I bet i can find 10 graphs that say the opposite. Their are fancy graphs showing both sides and articles that sound very rational. It is all theater.

The fact is we are on the edge of collapse and no one (not just Obama) wants to even cut future spending. Not Dems. nor Repubs.

Partisan talk is for fools that fall for the old divide and conquer trick.


TPTB are taking us to collapse purposely to make a major change in our system and not for the better.



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