More 'legacy lies' from outgoing Obama on economy

Here is what President Obama said on the Ellen show on Abe Lincoln's birthday: Since I came into office, we reduced the deficit by two-thirds, but if you ask the average person, they're sure that spending has shot up. And the reason is because there are a bunch of folks who say that we're wildly overspending, even though we aren't. Here are some actual numbers: in FY 2007, the last year President Bush and Republicans had 100% control of Congress, federal spending including both wars was $2.7 trillion.  The budget President Obama just submitted is $4.1 trillion.  That is up over 50% despite record-low interest rates and his continually bragging that he has ended the wars.  Median family income around the country is actually down or flat, so I do not understand how the president could pretend that they aren't overspending and taxing. The deficit was down to $161 billion in FY 2007, including the spending on the wars and because of...(Read Full Post)

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