Sunday, June 17, 2012

The Real story of spending Under President Obama


Spending chartThe truth is, the President's supposed "spending binge" is nothing but a myth, repeatedly debunked by independent fact checkers. Federal spending growth has actually been slower under President Obama than under any other president since Dwight Eisenhower.

President Obama has a plan to reduce the deficit by over $4 trillion, cutting federal spending while still making critical investments in education, innovation, infrastructure, and clean energy. It's a balanced and responsible approach to creating an economy built to last.

Mitt Romney claims on his campaign website: "Since President Obama assumed office three years ago, federal spending has accelerated at a pace without precedent in recent history."
 

Sources:

Congressional Budget Office (CBO), nonpartisan analysis for the U.S. Congress Office of Management and Budget (OMB) MarketWatch, The Wall Street Journal

1. Spending by president begins with the fiscal year that started during the calendar year they took office
2. 2009 Recovery Act was attributed to Obama

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