Wednesday, February 3, 2010

It’s Official: Obama’s Spending Today Dwarfs FDR’s Depression-Era Spending

This despite Obama telling us he's made historic strides … to cut wasteful spending, while presenting a budget proposal that for the second year in a row would fix federal spending at a percentage of Gross Domestic Product that is higher than at any time in the past 65 years.

This goes beyond lying. This is a slap in the face, a blatant, grotesque insult to our intelligence, and proof that the establishment has zero respect for you, or regard for what you think of government. Yep, they're lying to you...what are you gonna do about it?

    CNS News -

    In his budget message to Congress released Monday, President Barack Obama repeatedly compared the economic situation he “inherited” to the Great Depression of the 1930s when Franklin Roosevelt was president. But the new budget data released by his own Office of Management and Budget reveals that in one way Obama is making the current era distinctly different from the Great Depression: He is spending vastly more money than Roosevelt did.

    Between 1934, the first fiscal year in which Roosevelt and a Democrat congressional majority had full control of the federal budget, and 1941, the year the Japanese attacked Pearl Harbor, FDR never spent more than 12.0 percent of the GDP. In 1938, FDR spent as little as 7.7 percent of GDP.

    According to the budget tables released by the White House Monday, Obama will spend 25.4 percent, 25.1 percent and 23.2 percent in the three years remaining in his term. If he is reelected, he has the government on track to spend 22.8 percent in 2013, 22.9 percent in 2014 and 22.9 percent in 2015.

    Obama is making FDR look frugal.

    Year - Federal Spending as Percentage of GDP

    President Franklin Roosevelt

    1934 - 10.7
    1935 - 9.2
    1936 - 10.5
    1937 - 8.6
    1938 - 7.7
    1939 - 10.3
    1940 - 9.8
    1941 - 12.0

    President Barack Obama

    2010 - 25.4
    2011 - 25.1
    2012 - 23.2
    2013 - 22.8
    2014 - 22.9
    2015 - 22.9