No its completely true, and is a matter of public record (for the past data, obviously the future information isn't actually recorded yet) beyond reasonable dispute.
Of course the "number one" president (FDR) had a rather massive excuse, of WWII. He had the highest deficits (as a portion of the economy), but I don't blame him at all for that (I do blame him for other things, but that's a different debate).
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... * According to the CBO, which is usually preferred for projections because it does not share the White House Office of Management and Budget's fervent desire to please the boss, the debt-to-GDP ratio will end up north of 80% early in the next decade. It peaked around 110% at the end of World War II. It peaked at about 47% under Reagan. In both percentage and absolute terms, the Obama debt-to-GDP ratio will be closer to World War II than to Reagan. More worryingly, unlike the World War II debt-to-GDP ratio, ours is expected to keep growing in the years beyond the graph's end, because the projected deficits are higher than projected inflation.
* The Obama deficits are projected to peak at 13%. This is not "somewhat larger" than Reagan's; it is more than twice as large as Reagan's 6% peak. In absolute terms, it's just about halfway between Reagan and World War II...
theatlantic.com
businessinsider.com
heritage.org
heritage.org
Obama Defeats FDR (in Spending Other People’s Money)
...Obama will outspend and out-borrow the admittedly profligate George W. Bush, a man Obama and his lieutenants routinely malign for fiscal recklessness and who, when in office, was often hailed even by his allies as a Big Government Republican. Obama will even outspend—but not quite out-borrow—his fellow welfare-state liberal FDR, who had to contend with both the Depression and World War II.
In determining this was the case, I credited the presidents prior to Obama with the federal spending and borrowing that occurred during the fiscal years that started when they were in office. I credited Obama with the spending and borrowing that his own OMB estimates will occur during the fiscal years from 2010 to 2013, which are the four fiscal years starting during Obama’s four-year term. (Before fiscal 1977, fiscal years ran from July 1 to June 30. Since then, they have run from Oct. 1 to Sept. 30.)
FDR was inaugurated in March 1933 and died in April 1945. He is thus responsible for the 12 fiscal years from 1934 to 1945. During those years of depression and world war, according to OMB, federal spending averaged 19.35 percent of GDP. During Obama’s four fiscal years, OMB estimates spending will average 24.13 percent of GDP. That is about 25 percent more than under FDR.
In the first eight fiscal years of FDR’s presidency, before Japan attacked Pearl Harbor, federal spending as a percentage of GDP never exceeded 12 (despite the Depression). During those years, it averaged only 9.85 percent. Under Obama, annual spending as a percentage of GDP will average almost two-and-a-half times that much.
In fiscal 1942, when the U.S. started dramatically ramping up expenditures to fight World War II, federal spending equaled 24.3 percent of GDP. In 2010, the first full fiscal year of the Obama era, spending will reach 25.4 percent of GDP.
Under current estimates, Obama will not beat FDR’s overall record for borrowing, although he will nearly double FDR’s pre-World War II rate of borrowing. From 1934-41, FDR ran annual deficits that averaged 3.56 percent of GDP. Obama, according to OMB, will run average annual deficits of 7.05 percent GDP. When you include the war years of 1942-45, FDR ran average annual deficits of 9.76 percent of GDP. Even without a world war, Obama’s overall prospective borrowing is at least competitive with FDR’s.
And Obama and FDR share one historic debt-accumulating distinction. By OMB’s calculation, they are the only two presidents since 1930 to run up annual deficits that reached double figures as a percentage of GDP. Obama will run up a deficit this year of 10.6 percent of GDP. The last time the deficit hit double digits as a percentage of GDP was 1945 -- when Germany and Japan surrendered.
The U.S. won the Cold War without ever running a double-digit deficit. President Reagan’s highest deficit was 6 percent of GDP in 1983 -- and he bankrupted the Soviet Union not the United States.
So how does Obama compare with the much-maligned George W. Bush? In Bush’s eight fiscal years, annual federal spending averaged 20.43 percent of GDP, significantly less than Obama’s estimated 24.13 percent of GDP.
Bush ran annual deficits that averaged 3.4 percent of GDP—and that includes fiscal 2009, when the deficit soared to 9.9 percent of GDP and Obama signed a $787 billion stimulus bill (some of which was spent in fiscal 2009) after Bush left office. Obama, according to OMB, will run deficits that average 7.05 percent of GDP—or more than twice the average deficits under Bush.
The bottom line on Obama: He puts our money where his mouth is...
cnsnews.com
blog.heritage.org
A side note. Even if my statements in the earlier post where not true (and they are completely true, as the data in this post and at the links in it shows), they wouldn't be a lie. Considering that my statements are true, your use of "lie" is particularly inappropriate. To reasonably say someone else is lying you have to show that their statements are false (which mine are not) AND that they know they are false but deliberately make the statements anyway, so as to deceive others. You never had any evidence of such intention deception. Your "its a lie" was totally unreasonable, and you should apologize for it. |
