Of all the falsehoods told about President Barack Obama, the biggest whopper is the one about his reckless spending spree.
As would-be president Mitt Romney tells it: “I will lead us out of this debt and spending inferno.”
Almost everyone believes that Obama has presided over a massive increase in federal spending, an “inferno” of spending that threatens our jobs, our businesses and our children’s future. Even Democrats seem to think it’s true.
But it didn’t happen. Although there was a big stimulus bill under Obama, federal spending is rising at the slowest pace since Dwight Eisenhower brought the Korean War to an end in the 1950s.
Even hapless Herbert Hoover managed to increase spending more than Obama has.
5 Trillion Dollars in new debt! That is $5T or $5,000,0000,000,000 over the last three and a half year. If he hasn't been spending it, has he banked it somewhere for a rainy day?
Playing the percentage game is always a sham, and this administrations admirers and suck ups always seem couch their statements by claiming that as a percentage of GDP, or in this case rise in spending as a percentage. $5T is a f'ing lot of money and the country has gotten NOTHING from that investment, or more to the point, the country has squandered $5T on a feel good moment and the Peter Principle.
$5,000,000,000,000 is 20,000,000,000,000 quarters, 50,000,000,000,000 dimes or 100,000,000,000,000 nickles.It represents $16,66667 in debt for every man, woman and child legally living in America. If you limit that debt to the current workforce, around 180,000,000 people and falling, then it represents $27,777.77778 for each American worker.
BUT, Obama and his flunkies has designed a great economic model for
Greece er America to follow.
