Once again the republican cries about federal spending under the Obama administration confirm their present and past lies to the American people about who the big spenders really are. Any one who follows this writers site knows of the republican lies. See Note 1 below for past comments.
President Obama's first fiscal year budget that ended Sept. 30, 2010 came in with a federal deficit of $1.29 trillion, smaller than expected and less than President Bush's record federal deficit of his last fiscal year budget ending Sept. 30, 2009 that came in at a record $1.42 trillion. The republican party's record of being the greatest deficit spender in history is still intact.
Federal spending in Obama's first fiscal budget year fell 1.6% from Bush's last fiscal year budget. Federal spending under the Obama administration was $3.46 trillion. Under the Bush administration it was $3.51 trillion. In other words federal spending continues to be a republican party staple that identifies their party for what it really stands for. The decrease in Obama's first fiscal year budget is even more impressive when one understands the terrible economic conditions Bush left behind.
When you compare Bush's first fiscal year budget that ended Sept. 30, 2002 to President Clinton's last federal budget year that ended Sept. 30, 2001, federal spending was up 8%. Federal spending under Bush that fiscal year was $2.01 trillion to Clinton's $1.86 trillion. And Bush inherited the greatest economy and job creation, lowest unemployment rate in over 30 years, record surpluses and a reduction of the national debt.
One of the main reasons this economic slow down is taking time to recover is due to the fact that during Bush's eight years in office a massive amount of wealth was transferred from the middle class to the wealthy. Also eight straight years of record federal deficits and a increase of over $6 trillion in the national debt. That combination was a betrayal of the United States and its people.
Note 1: The U.S. Economy: Which Party Performs Best, Parts I, II,III dated 1/27/08, 2/17/08, 2/25/08 and Recap and Conclusion dated 3/2/08
The Fiscal Legacy of President George W. Bush dated 10/30/09
Federal Spending: Facts vs. Myth dated 10/31/09
National Debt: Betrayal and Devastation dated 12/6/09
1 comment :
The news media in general is responsible for the projection that it is the democratic party who are the big spenders in Washington. Thank goodness for politidose. Keep up the good work.
Post a Comment