Even with Nutting's Math, Obama 1st Term Spending up 24% vs. Bush's Last Term
Many writers, including me, shot out of the water the false math by Rex Nutting of Market Watch which places all of FY2009 spending at Bush's door step.
But even if you take all of the FY2009 outlays and blame it on Bush - which would include the second half of TARP that Obama requested; most of the Auto Bailout which Obama pushed; The Mortgage/Loan Medication Program; The Omnibus Spending Bill signed by Obama March 2009; The Stimulus Bill, and the S-CHIP expansion - take all of this and place it on Bush, spending is still up by almost 24% in Obama's first term versus Bush's last:
Total outlays in the four Budget years ending and including FY2009 was $11.882 trillion dollars. Total spending for the following four years will total approximately $14.645 trillion dollars. This, my friends, is an increase of almost 24%.
It's beyond me how Jay Carney has the blatant Chutzpa to use to Market Watch math which claims Obama spending rose by only 1.4% to challenge reporters for "buying into the Republican BS," when in fact even with the most false way of counting the outlays, Obama is still up a solid twenty four percent.
Just a note in closing: Bush's FY2009 budget proposal was $3.1 trillion but after all was set and done, we spent $3.52 trillion during that budget year; an increase in spending of fourteen percent compared to what Bush requested; and a level of spending that is used as a baseline ever since.