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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (656531)	5/25/2012 10:21:33 AM
From: Sdgla	1 Recommendation Respond to of 1578704

Liar in Chief : Obama Claims He Is Not An ‘Over-Spender’ From ABC News: President Obama Denounces Republican ‘Wild Debts’: I’m Not an Over-SpenderBy Devin Dwyer May 23, 2012 COLORADO SPRINGS, Colo. — At a fundraiser for his re-election campaign in Denver tonight, President Obama set out to upend conventional Republican wisdom that his administration has been defined by excessive government spending. Obama is not content to push just one Big Lie. He has to push a dozen Big Lies every week. “I’m running to pay down our debt in a way that’s balanced and responsible. After inheriting a $1 trillion deficit, I signed $2 trillion of spending cuts into law,” he told a crowd of donors at the Hyatt Regency… Maybe Obama thought his donors would never dare to question anything he said. (Just like the news media.) But do the math. If what Obama claims were true we would be running a $1 trillion dollar surplus. We aren’t. Or Obama wouldn’t be needing to raise the debt ceiling every three months. “My opponent won’t admit it, but it’s starting to appear in places, like real liberal outlets, like the Wall Street Journal: Since I’ve been president, federal spending has risen at the lowest pace in nearly 60 years. Think about that.” Think about that and laugh at the preposterousness of it all. Or maybe worry that we have a President who is willing to claim such obliviously untrue things without the slightest tinge of embarrassment. Obama was referring to an analysis released this week by Rex Nutting, a reporter for CBS MarketWatch who is also affiliated with the Wall Street Journal. Nutting concluded that Obama has presided over the slowest growth in federal spending in decades. Has Rex Nutting (who?) reported his ‘in kind’ contribution to the Obama campaign to the FEC? Or is CBS already registered as a Super PAC? “Government spending under Obama, including his signature stimulus bill, is rising at a 1.4 percent annualized pace – slower than at any time in nearly 60 years,” Nutting wrote, citing data from the Congressional Budget Office, Office of Management and Budget and an independent financial firm. “The big surge in federal spending happened in fiscal 2009, before Obama took office. Since then, spending growth has been relatively flat,” he wrote. “Over Obama’s four budget years, federal spending is on track to rise from $3.52 trillion to $3.58 trillion, an annualized increase of just 0.4 percent. There has been no huge increase in spending under the current president, despite what you hear.” In other words, if you don’t count the unprecedented spending spree that Obama engaged in during his first year in office, his spending hasn’t been so bad. However, not even Mr. Nutting can pretend Obama’s first year did not happen. In fiscal year 2009, Obama spent $825 billion dollars on his first stimulus, $200 billion dollars on a second (and unnecessary) round of TARP spending, and $40 billion dollars on a new child health care bill. All of which adds up to $1.065 trillion dollars. And none of that $1.065 trillion in spending was included in President Bush’s budget for fiscal 2009. And, bear in mind, that most of Obama’s new spending got built into the baseline budgets for the various agencies involved. So we will be paying for these increases year after year and for the rest of time. The Obama campaign circulated Nutting’s article by email and posted it on its website Tuesday. Why not? They when they get someone to carry their water, they want people to notice. The president picked up on the theme again today to hammer the point home. “I just point out it always goes up least under Democratic presidents. This other side, I don’t know how they’ve been bamboozling folks into thinking that they are the responsible, fiscally-disciplined party. They run up these wild debts and then when we take over, we’ve got to clean it up." Mr. Obama’s projection has become positively pathological. — In fact, notice that whenever he uses the word bamboozle, he is always trying to bamboozle us with some new whopper. The Republican National Committee pointed out that while growth of spending and debt may have slowed, Obama has overseen the three largest deficits in U.S. history. Even though Obama has cut two dollars in spending for every dollar of deficit he inherited? How is that possible?