Wall Street Journal - "Obama spending binge never happened" (GREAT CHART!)

[zeitgeist]

I meant to post this yesterday but didn't have time. 


http://upload.democraticunderground.com/1002718056

FourScore

 

Wall Street Journal - "Obama spending binge never happened" (GREAT CHART!)

 Tue May 22, 2012 at 12:09 PM PDT
Wall Street Journal - "Obama spending binge never happened"
by NewDealer

...From the Wall Journal's Market Watch column today comes this.


Of all the falsehoods told about President Barack Obama, the biggest whopper is the one about his reckless spending spree. (snip) 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...

SNIP

...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%.
 
There has been no huge increase in spending under the current president, despite what you hear...
 

I ran across this yesterday and heard Rush metion the article today as I was between the house and hardware.  I went looking for the original article yesterday and grabbed a few comments which I will also include.  These are not DUMP comments, they are comments to the original article only.  You will have to head to the DUmp for theirs.

LOL. The democrats ran Congress from Jan 2007 to Jan 2011. Comparing the debt numbers by Congress. Public Debt increased by more than 100% during the Pelosi-Reid Congress of 2007-2011 spanning two presidents from $4.8 tril to $9.8 tril. The democrats took only 4 years to more than double the debt. Under 12 years of Republican Congress, 1995-2006 debt held by public increased 33% from $3.4 tril to $4.8 tril in 12 years. Article 1 Section 7, of the US Constitution states that Revenue bills must be originated in the House. Congress is responsible for debt.

Fact 1: End 1994, $3,433,065 mil Debt held by public at start of Republican Congress.
Fact 2: End 2006, $4,828,972 mil Debt held by public at start of Democrat ... Congress.
Fact 3: End 2010, $9,881,895 mil Debt held by public at end of Pelosi-Reid Democrat Congress.

http://www.gpoaccess.gov/usbudget/fy10/hist.html

Budget of United States of America, Office of the President. Source table 7.1



FreddieBear2 1 day ago+19 Votes 
Request sentMight as well look at the job creation record of the Republican Congress Jan 1995 to Jan 2007. Since I have the Bureau of Labor stats handy might as well post 'em.

Fact 1: Jan 1995 124,663,000 employed
Fact 2: Jan 2007 146,033,000 employed

Darn those pesky facts 22 million jobs created under the Republican Congress.


FreddieBear2 1 day ago+18 Votes 
Request sentMore facts. Since the democrats have ruled Congress, Jan 2007, 6.4 million jobs have been lost.

Fact 1: Jan 2007 146,033,000 employed Democrats seize Congress
Fact 2: Feb 2009 141,687,000 employed Stimulus passed
Fact 3: Jan 2011 139,323,000 employed

http://data.bls.gov/cgi-bin/surveymost?ln


FreddieBear2 1 day ago+12 Votes 
Request sentFrom 1995-2006 republican Congress increased spending by 4.7% a year. The Democrat Congress increased spending by 7.8% per year from 2007-2011. The Democrat congress increased spending over the Republican Congress by 64%.

Fact 1: 1995 $ 1,515,884, Tril Federal spending
Fact 2: 2007 $ 2,655,435, Tril Federal spending
Fact 3: 2011 $ 3,603,061 Tril Federal spending

http://www.gpoaccess.gov/usbudget/fy10/hist.html
Budget of United States of America, Office of the President. Source table 1.1


FreddieBear2 1 day ago+12 Votes 
Request sentDeficit facts. Deficits since democrats seized Congress in Jan 2007.

Fact 1: 2008 $458,555 mil
Fact 2: 2009 $1,841,188 mil
Fact 3: 2010 $1,258,431 ml
Fact 4: 2011 $1,299,595 mil
Fact 5: 2112 $1,326,948 mil

Last Republican deficit , Fiscal year end Sept 30. 2007 $160,701 mil. The democrats have expanded the budget deficit $1.3 trillion from $160 billion. And the Senate has yet to pass a budget in 3 years.

http://www.whitehouse.gov/omb/budget/Historicals Table 1.1

There were over 600 comments to the original article yesterday.  The libs were being served flank steak.  (Having their ass handed to them).  The DUmp of course experiences no such rump roasting. 

[Doubleplusungood]

What gets me is how the Wall Street Journal can just lie like reality never happened, and there is no internet with which to easily expose this lie. Lefties, you can't get away with that any more.

[Ballygrl]

Idiots!

http://www.rushlimbaugh.com/daily/2012/05/24/barack_obama_the_spending_king

This guy Nutting goes back and forth.  He's got this big story out there that it's a myth that Obama's a big spender.

The way he does it is to say that all the spending in 2009, which would include the stimulus, was Bush's because the budget for 2009 was Bush's, done in September of 2008.  So Obama's first year is actually Bush's last budget.  But Bush didn't budget the Porkulus. Bush didn't budget the second Porkulus.  It's a trillion dollars of spending that this guy Nutting lops on to Bush and doesn't give to Obama.  But that doesn't even cover what's going on here.  I sent it around to everybody, I said, "You better look out for this."  And what's happened now, Obama has taken the bait on this.  Obama's running around like everybody else knowing full well that he's the spending king.

This statistic doesn't lie.  Obama has added more to the national debt in three-and-a-half years than all the previous presidents combined.

The TARP money was allocated by Bush, but a lot of the TARP money was discretionary, and Obama, I think, what's the number, $300 billion of the $700 billion was authorized by Obama, not Bush.  So just off the top of my head here, you've got $780 billion, whatever it was, for the Porkulus; you have $140 billion for Porkulus 2; so 780, 140, we're at 920.  We're over a trillion dollars of spending that this guy, Nutting, chalks up to George W. Bush and not Obama.

So Bush authorizes, and Congress, they authorize the budget, fiscal year starts October 1st, so the budget for 2009 starts actually October 1st, 2008.  Actually before the election, the new budget kicks in.  And the baseline at that time is based on the 2009 fiscal year budget starting in 2008.  Well, then Obama comes along and essentially adds a trillion dollars, folks, above and beyond what Bush already budgeted, Bush and the Congress. I know Congress does the official, final budget, but for the purposes of this guy's trying to blame Bush for all this, I'll use Bush in my terminology.

Then USA Today has a story today. Drudge just made it his lede. "The typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, a USA Today analysis finds. Under those accounting practices, the government ran red ink last year equal to $42,054 per household -- nearly four times the official number reported under unique rules set by Congress.

[Ballygrl]

Comments from marketwatch.com, I'm just on page 1 and there's over 1300 comments, and I've just seen 1 pro-Obama comment:

Never trust a liberal. Liberals lie all the time. Often from ignorance. Frequently on purpose though.

No, Rex is being intentionally misleading.

Remember 2009 included the massive stimulus that represented the largest increase in history and was supposed to be a one-time event and not part of the run-rate. For a real 0% increase we should see 2010 go back to 2008 levels.

To balance the budget we need to go to 2006 levels or lower.

Cool.. the issue here is that Rex is trying to dismiss claims of high Obama spending by using the final year of Bush spending that was inflated by one time expenditures related to the economic meltdown. He further obfuscates by using percentages. Look at the real numbers on the link I provided for a truer picture ofthe amounts involved.
Rex is either a simpleton who believes his misleading claims or he thinks he's smart enough to pull the wool over our eyes by only telling half the truth.
I guess that's better than the fools who claim that we only have a deficit because tax receipts have dropped. They're half right.

Rex only quoted the rates of increases in spending. That's the second derivative - the acceleration. So what he's on about is that under Obama, the rate of deficit spending acceleration hasn't increased as much as it could have. Deficit spending is at all-time highs, the velocity of its increase is parabolic, but it hasn't accelerated as much as when Bush started two wars.

Obama apologists like Rex are disgusting. That being said - Romney is lying and will be just as bad as Obama. The only viable solution to our current predicament is to stop paying federal taxes and let that puppy implode under its own weight.

I'm not questioning his data. I'm pointing out his mis-representation of it. It's disgusting. If you are pro-Obama or just pro-Gov't, then you should be upset at this gross mis-representation.

Of course, if you ARE pro-Gov't, then you probably don't have what it takes to differentiate a good representation from a bad one because you spent your youth in the prisons called "schools" being trained to do whatever the gov't tells you. You just take what you're told on faith.

this guy is one of the most unadulterated @#$%&! i have ever read. shame on me !! never mind have a car, he probably still lives in his mom's basement.

What's increased is the size of the deficits.

No huge amounts of stimulus money was ever spent? Well, yes and no.. Not enough to drive up overall gov spending, but certainly enough to drive up huge deficits, which is what Rex is trying to hide. Think huge drops in tax receipts.

Also, the losses that will be sustained on all the junk mortgages that the Fed bought have yet to be realized. The Fed can't lose money because the losses are simply passed back to the Gov just like the much advertised profits to date.

Sorry, but after his last three articles of @#$%&!, no more respect from me for Rex..

   

In that case I suppose we could pin the high deficit in 2009 on Obama since he was a member of the Congress who approved that budget and expenditures.

[zeitgeist]

I guess I probably should have put a link to the original story too. If you use the DUmp link you will go around the proverbial barn looking for it :

http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22?pagenumber=1

Rex Nutting does not make out very well in the comment section although he does make a lame defense of his "story".

[miskie]

You're kidding me, right ?

Spending taxpayer's money is what Obama is all about - and up until this report, he was proud of it !

This is a leftist video from 2009, that illustrates the wonders of deficit spending, and how Obama is right to do it. There is no way DU can deny the 'validity'* of this source.

[youtube=420,315]Yw1tCiwrB8o[/youtube]

*'Validity' in this case, means valid to a primitive, not reality.


edit: 2009, not 2008.

[BattleHymn]

Someone should post this chart in that thread:

[zeitgeist]

Someone should post this chart in that thread:

That would give the alert buttons a real stress test. But,  DUmmie would never believe it.  That is why they are DUmmies.  If you were stupid enough to vote Obama in the first place Team Obama believes you are stupid enough to believe this drivel.

Who are you going to believe me or you own lying eyes?  Fits them to a T at Team Obama.

[Ballygrl]

Oh! this totally bears repeating!

Someone should post this chart in that thread:

[sybilll]

Lee Doren (How The World Works) also dismantled this completely, on his YouTube channel:  http://www.youtube.com/watch?v=eqMulqWEgvA&feature=youtu.be
It should also be noted that Nutting, the author of the chart and article, did not even know what baseline budgeting was when challenged on a PA radio station, alleged by a caller to Rush today. 

[Ballygrl]

Lee Doren (How The World Works) also dismantled this completely, on his YouTube channel:  http://www.youtube.com/watch?v=eqMulqWEgvA&feature=youtu.be
It should also be noted that Nutting, the author of the chart and article, did not even know what baseline budgeting was when challenged on a PA radio station, alleged by a caller to Rush today.

Damn! I missed that call.

[Ballygrl]

Here's the transcript of the call:

http://www.rushlimbaugh.com/daily/2012/05/24/the_pelosi_chart_that_inspired_rex_nutting

RUSH: We're gonna start in Pittsburgh. It's Jim. Great to have out program. You're up first, and welcome, sir.

CALLER: Great, Rush. I called Rex Nutting Tuesday night in Pittsburgh. He was on a talk show on that article, and I called him on it. First thing I said is, "They use baseline budgeting." He goes, "What is that?" I explained --

RUSH: Wait, wait, wait, wait. Hold it a second. Hold it. You...? Rex Nutting was on a show in Pittsburgh last Tuesday. You called the show.

CALLER: This Tuesday. And I knew enough by listening to you about baseline budgeting and everything else to challenge him, okay?

RUSH: And this guy --

CALLER: He didn't know what it was. I had to explain it to him, and --

RUSH: Wait a second. We gotta digest this. You're flying by this. Don't worry. I'll hold you over.

CALLER: Okay, good. As long as I know I have more time, I won't rush through it.

RUSH: Right, right. I just want to make sure people digest this. The guy who wrote the piece claiming that Obama is not a big spender, that Bush really spent all that money, you had a chance to talk to him on the radio in Pittsburgh last week; he did not know what baseline budgeting is. You had to tell him.

CALLER: Yes. Exactly. Yes. Yes.

RUSH: Did he understand it after you explained it?

CALLER: Yes, he did. Here's the amazing thing about it, Rush. He did, and he admitted they probably use it.

RUSH: (laughing)

CALLER: This is how crazy it was. And I even said to him, Rush, I said, "They off-loaded Obamacare 'til 2014," and after that I got cut off. Because the host even admitted that his Twitter account was going bonkers. No one called him on it because no one knew enough like I knew enough to challenge him on it, okay? But as a guy that really doesn't have half of a brain, I don't know --

RUSH: Well, this is why, Jim, I am convinced that this guy was inspired by a chart that Pelosi's office put out a year ago. With your story I am more convinced than ever that that's what happened here. Look, we have the break. I want you to hold on.

CALLER: Okay.

RUSH:  Okay, we're back with Jim in Pittsburgh who ended up talking to Rex Nutting on a radio talk show, I guess, Tuesday in Pittsburgh last week, and he had not heard of baseline budgeting. You had to explain it to him.  Nutting is the guy that has this piece out about Obama not being a proliferate big spender.  But you pointed out that Obamacare was off-loaded to 2014, all of the spending, the, quote, unquote, benefits so that that wouldn't show up before Obama had a chance to be reelected.  But then you said that the Twitter account was going bonkers and nobody called him.  Whose Twitter account was going bonkers?

CALLER:  It was the guy on KDKA, Robert Mangino, he has the six to ten.

RUSH:  The host, okay.

CALLER:  The host.  He goes either way, conservative or liberal, but I think he goes more on the liberal side as far as politics.  And he even liked my idea about baseline budgeting, but how he sold him on it, and he sells a lot of people on it, he says, "Oh, using real dollars," and he admitted, he goes, "Yeah, I think Jim's right, they use baseline budgeting."  I think what it is, Rush, you know, I told him right off, I said, "Look, I have a degree in political science. I've been following things for years. He knew I knew more than he knew. And after I explained it to him, he admitted it was true, and then I got cut off because they were worried that I would blow the guy out of the water. If I had more time I would have blown him out of the water.  My point is, Rush, these people are so stupid that write these articles, that I don't know if it's lies, deceitful or just stupidity.

RUSH:  Well --

CALLER:  Who knows.  But the whole point is --

RUSH:  It's probably a combination.

CALLER:  Yeah, that's what I think it is.  But if I would have thought about what you said about how he hadn't passed the budget, I wish I could have thought -- and that's why you're where you're at, but he admitted to -- he says, "Well, they have to start somewhere."  But he did not know what baseline budgeting is.  And I don't know if people outside of listeners to your show know, but you've explained it eloquently over the years, and I was able to easily explain it.  And the host even was --

RUSH:  When you explain that the Porkulus -- and this guy trying to blame Bush for the Porkulus takes the cake.  But all of this spending that was off-budget, was added to the budget, gets added to the baseline because it is federal spending. So the next budget incorporates that new level as the new baseline from which all the new spending increases are tabulated.  Therefore, the spending which followed 2009 increased almost at a geometric progression because the baseline had a trillion dollars added to it that was not on the budget.

[sybilll]

Damn! I missed that call.

It was awesome, and Rush was stunned.  I'm hoping his staff tracks down the audio and posts it tomorrow (not in today's quick links).  This whole episode is SO utterly ridiculous, yet Obama is actually campaigning on it's non-existent validity.  

[Ballygrl]

Just sent you a PM Sybilll.

[Skul]

Cut it out1
My scroll whell is borked!

[BattleHymn]

Cut it out1
My scroll whell is borked!

[Skul]

OK, ya got one. 

[delilahmused]

Here's the transcript of the call:

http://www.rushlimbaugh.com/daily/2012/05/24/the_pelosi_chart_that_inspired_rex_nutting

RUSH: We're gonna start in Pittsburgh. It's Jim. Great to have out program. You're up first, and welcome, sir.

CALLER: Great, Rush. I called Rex Nutting Tuesday night in Pittsburgh. He was on a talk show on that article, and I called him on it. First thing I said is, "They use baseline budgeting." He goes, "What is that?" I explained --

RUSH: Wait, wait, wait, wait. Hold it a second. Hold it. You...? Rex Nutting was on a show in Pittsburgh last Tuesday. You called the show.

CALLER: This Tuesday. And I knew enough by listening to you about baseline budgeting and everything else to challenge him, okay?

RUSH: And this guy --

CALLER: He didn't know what it was. I had to explain it to him, and --

RUSH: Wait a second. We gotta digest this. You're flying by this. Don't worry. I'll hold you over.

CALLER: Okay, good. As long as I know I have more time, I won't rush through it.

RUSH: Right, right. I just want to make sure people digest this. The guy who wrote the piece claiming that Obama is not a big spender, that Bush really spent all that money, you had a chance to talk to him on the radio in Pittsburgh last week; he did not know what baseline budgeting is. You had to tell him.

CALLER: Yes. Exactly. Yes. Yes.

RUSH: Did he understand it after you explained it?

CALLER: Yes, he did. Here's the amazing thing about it, Rush. He did, and he admitted they probably use it.

RUSH: (laughing)

CALLER: This is how crazy it was. And I even said to him, Rush, I said, "They off-loaded Obamacare 'til 2014," and after that I got cut off. Because the host even admitted that his Twitter account was going bonkers. No one called him on it because no one knew enough like I knew enough to challenge him on it, okay? But as a guy that really doesn't have half of a brain, I don't know --

RUSH: Well, this is why, Jim, I am convinced that this guy was inspired by a chart that Pelosi's office put out a year ago. With your story I am more convinced than ever that that's what happened here. Look, we have the break. I want you to hold on.

CALLER: Okay.

RUSH:  Okay, we're back with Jim in Pittsburgh who ended up talking to Rex Nutting on a radio talk show, I guess, Tuesday in Pittsburgh last week, and he had not heard of baseline budgeting. You had to explain it to him.  Nutting is the guy that has this piece out about Obama not being a proliferate big spender.  But you pointed out that Obamacare was off-loaded to 2014, all of the spending, the, quote, unquote, benefits so that that wouldn't show up before Obama had a chance to be reelected.  But then you said that the Twitter account was going bonkers and nobody called him.  Whose Twitter account was going bonkers?

CALLER:  It was the guy on KDKA, Robert Mangino, he has the six to ten.

RUSH:  The host, okay.

CALLER:  The host.  He goes either way, conservative or liberal, but I think he goes more on the liberal side as far as politics.  And he even liked my idea about baseline budgeting, but how he sold him on it, and he sells a lot of people on it, he says, "Oh, using real dollars," and he admitted, he goes, "Yeah, I think Jim's right, they use baseline budgeting."  I think what it is, Rush, you know, I told him right off, I said, "Look, I have a degree in political science. I've been following things for years. He knew I knew more than he knew. And after I explained it to him, he admitted it was true, and then I got cut off because they were worried that I would blow the guy out of the water. If I had more time I would have blown him out of the water.  My point is, Rush, these people are so stupid that write these articles, that I don't know if it's lies, deceitful or just stupidity.

RUSH:  Well --

CALLER:  Who knows.  But the whole point is --

RUSH:  It's probably a combination.

CALLER:  Yeah, that's what I think it is.  But if I would have thought about what you said about how he hadn't passed the budget, I wish I could have thought -- and that's why you're where you're at, but he admitted to -- he says, "Well, they have to start somewhere."  But he did not know what baseline budgeting is.  And I don't know if people outside of listeners to your show know, but you've explained it eloquently over the years, and I was able to easily explain it.  And the host even was --

RUSH:  When you explain that the Porkulus -- and this guy trying to blame Bush for the Porkulus takes the cake.  But all of this spending that was off-budget, was added to the budget, gets added to the baseline because it is federal spending. So the next budget incorporates that new level as the new baseline from which all the new spending increases are tabulated.  Therefore, the spending which followed 2009 increased almost at a geometric progression because the baseline had a trillion dollars added to it that was not on the budget.

I heard that, it was great!

Cindie

[Wineslob]

It was awesome, and Rush was stunned.  I'm hoping his staff tracks down the audio and posts it tomorrow (not in today's quick links).  This whole episode is SO utterly ridiculous, yet Obama is actually campaigning on it's non-existent validity. 

Well, fake but accurate applies.

[DumbAss Tanker]

What gets me is how the Wall Street Journal can just lie like reality never happened, and there is no internet with which to easily expose this lie. Lefties, you can't get away with that any more.

It's not actually a lie, it is a cherry-picked metric...like saying that Hitler reduced the number of Jews on welfare in Germany between 1933 and 1945.

[Doubleplusungood]

It's not actually a lie, it is a cherry-picked metric...like saying that Hitler reduced the number of Jews on welfare in Germany between 1933 and 1945.

Its still a lie because the intent is to deceive. Half truths are still lies. The sin of omission is still a lie.

[Ballygrl]

http://www.washingtonpost.com/opinions/forget-bain-obamas-public-equity-record-is-the-real-scandal/2012/05/24/gJQAXnXCnU_story.html

Forget Bain — Obama’s public-equity record is the real scandal

By Marc A. Thiessen, Published: May 24

Despite a growing backlash from his fellow Democrats, President Obama has doubled down on his attacks on Mitt Romney’s tenure at Bain Capital. But the strategy could backfire in ways Obama did not anticipate. After all, if Romney’s record in private equity is fair game, then so is Obama’s record in public equity — and that record is not pretty.

Since taking office, Obama has invested billions of taxpayer dollars in private businesses, including as part of his stimulus spending bill. Many of those investments have turned out to be unmitigated disasters — leaving in their wake bankruptcies, layoffs, criminal investigations and taxpayers on the hook for billions. Consider just a few examples of Obama’s public equity failures:

-list of Obama's public equity companies that failed at the link-

[miskie]

http://www.washingtonpost.com/opinions/forget-bain-obamas-public-equity-record-is-the-real-scandal/2012/05/24/gJQAXnXCnU_story.html

Forget Bain — Obama’s public-equity record is the real scandal

By Marc A. Thiessen, Published: May 24

I believe this is only the second or third time that I am inclined to say 'WaP0wn3d !!!!1!!' in my life.

[zeitgeist]

Its still a lie because the intent is to deceive. Half truths are still lies. The sin of omission is still a lie.

Bingo.  "Oh what tangled webs we weave when first we practice to deceive."  Little white lies always have a way of growing up.

[zeitgeist]

http://www.washingtonpost.com/opinions/forget-bain-obamas-public-equity-record-is-the-real-scandal/2012/05/24/gJQAXnXCnU_story.html

Forget Bain — Obama’s public-equity record is the real scandal

By Marc A. Thiessen, Published: May 24

Oh wow BG, great pick up.  Obie is not going to be happy about this article.  And here is why, I once asked a liberal (died in the wool) neighbor about her reading habits.  Her answer WAPO an NYTimes; no need for any others they are the only ombudsmen of truth in America.  And she reads them religiously.  This will certainly put a bee in her bonnet so to speak.