Obama wins yet another prize

iVillage Member
Registered: 02-19-2008
Obama wins yet another prize
9
Wed, 11-25-2009 - 5:12pm

If you can win a Nobel prize for doing nothing, then your prize can be questioned. However, President Obama has won a prize that there can be no doubt he fully earned. He is now the President who has spent the most of any President during their first year in history. Kudos to President Obama. That 2 trillion makes the 0-400 billion dollar deficits of the Bush era look very tiny.

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

Click here to read FOXBusiness.com's Elizabeth MacDonald describe what the interest on the debt can buy.

That's a big increase. But compared with other presidents' first years in office, Obama is running circles around them.

Bush spent $1.8 trillion in 2001, according to government budget figures that have been adjusted for inflation based on 2000 dollars. Using the same formula, former President Bill Clinton spent $1.6 trillion in 1993.

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.

Obama's first-year budget, adjusted for inflation, is about five times that. His 2009 budget is also close to 21 percent of that for Clinton's eight years in office -- Clinton's spending added up to $13.5 trillion over his two full terms. Bush spent $16.8 trillion from 2001-2008.

iVillage Member
Registered: 01-04-2009
Sat, 11-28-2009 - 2:48pm

<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. >


 

iVillage Member
Registered: 12-25-2008
Sat, 11-28-2009 - 4:45pm
Now you know that context doesn't matter.

 


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iVillage Member
Registered: 01-04-2009
Sat, 11-28-2009 - 6:07pm
You're right. I should know better.

 

iVillage Member
Registered: 11-13-2009
Sat, 11-28-2009 - 10:32pm

I appreciate people, like you and others, that post the other side... cause honestly, sometimes I can't

 

iVillage Member
Registered: 03-18-2000
Sun, 11-29-2009 - 8:56am

Obama=Bad


Bush=Good


Throw out the facts & spin, spin, spin.

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iVillage Member
Registered: 01-04-2009
Sun, 11-29-2009 - 5:28pm

Thanks.

 

Avatar for ddnlj
iVillage Member
Registered: 03-26-2003
Mon, 11-30-2009 - 8:36am

Amazing how quickly Republicans forget their own screw-ups.


I recently read an article that claimed that in early 2008

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iVillage Member
Registered: 03-18-2000
Mon, 11-30-2009 - 9:18am

"I will agree that I think Obama's job stimulus program was an utter failure"


The failure, if one wants to assign blame, for the most part are the

 


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Avatar for ddnlj
iVillage Member
Registered: 03-26-2003
Mon, 11-30-2009 - 10:43am

I agree, but there are a lot of variables going on here, and as president, I think Obama should be looking at the whole picture.

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