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  • Morning Bell: Believe it. Obama's A Big Spender.

    There are some things that are so apparent that they’re not even worth mentioning. What goes up must come down. The earth is round. President Barack Obama is a big spender. But this week, some in the media and in the White House are denying one of these totally obvious truths. It shouldn’t be a big surprise which one it is.

    On Tuesday, MarketWatch’s Rex Nutting wrote that claims of Obama’s big spending ways are overblown and that the “Obama spending binge never happened.” In a press gaggle on Wednesday, White House spokesman Jay Carney picked up on the argument and claimed that “this President has been–has demonstrated significant fiscal restraint and acted with great fiscal responsibility.”

    But sure as the sun rises in the east, not in the west, claims of Obama’s supposed “fiscal restraint” are just plain wrong. Heritage’s J.D. Foster explains:

    Federal spending as a share of the economy will average over 24 percent during Obama’s term, and each and every year of that term will see a higher share than during any year since the Second World War. That apparently qualifies as ‘significant fiscal restraint’ Obama-style.

    Fiscal responsibility? Obama has had by far the largest budget deficits, driven in large part by the eruption in spending.

    Heritage’s Alison Fraser and Emily Goff thoroughly dismantle of the Nutting-Carney claim and point out that President Obama’s near-trillion-dollar stimulus “drove spending to a record 25.2 percent of the economy in 2009 and deficits topped $1 trillion for the first time in the nation’s history.”

    You can see the proof for yourself in Heritage’s 2012 edition of the Federal Budget in Pictures. Of the last ten presidents, going back to John F. Kennedy, president Obama’s budget deficits as a percentage of GDP have exploded. And if you take a look at where spending is headed under President Obama’s budget, you’ll see that the country’s debt crisis just keeps getting worse. The President’s FY 2013 budget would increase the debt to 76.5 percent of GDP by 2022, despite $2 trillion in tax hikes. That’s not “fiscal restraint,” no matter how you slice it.

    As bad as spending is today, President Obama wants to spend more, especially on transportation, infrastructure, education and research. He says that more spending, paid for with higher taxes, is the key to getting the U.S. economy back on track — even though that strategy has failed miserably over the past three years. Here’s the president’s problem. The American people don’t want Washington to spend more, they want it to spend less. They don’t want Washington to tax more, they want it to tax less. According to a new Rasmussen Reports poll, 53 percent of voters believe that tax cuts help the economy, and most say that more government spending has a negative impact.

    The president wants to have it both ways. He’d like to be viewed as someone who cuts taxes and has demonstrated fiscal restraint, but he also wants to keep on taxing and spending. But sure as apples fall from trees and go down, not up, President Obama is a big spender who has done anything but show fiscal restraint. There are some laws of nature that just can’t be denied.

    Quick Hits:

    Posted in Economics [slideshow_deploy]

    49 Responses to Morning Bell: Believe it. Obama's A Big Spender.

    1. Victor Barney says:

      BELIEVE IT OR NOT: Too little, too late to worry about it! We are "Israel" by the seed of Joseph, not JUDAH(GEN. 48:16) has put over it the ONLY "FORBIDDEN FOREIGNER"(Deuteronomy 17:15) in man's 6,000 year history over u.s. Did I also mention that this time Obama is the RIGHT self-professed ANTI-CHRIST(MARXIST) TO END MAN'S AGE?_NO? WATCH, especially beginning September 16, 2012 on the annual Israelite Annual Feast of Trumpets(WAR) and ending 3 1/2 years later, when it is written that ONLY 144,000 Anglo-Saxons will surivie, less the tribe of Dan, which has been replaced by Joseph. Again, just saying…

    2. toledofan says:

      No matter the logic, history or common sense, the only way the gross out of control spending is going to stop is when the Democrats and Obama are wisked out of power. It's really sad that the Democrats view or ideology is nothing but tax and spend and is void of any real solutions top fix any of our nations major problems. The irony in all of this is that if we haven't learned our lesson by now we never will.

    3. Dan McClean says:

      With the publihing of Rex Nutting's piece, it is obvious to me that his surname is in gross error. It would be more appropriate to be Rex Nutty as the only truth to the article is that Nutting is Nutty for Obamy and that s just plain Nuts.

      • Clearhead says:

        Or perhaps 'Rex Nothing' which might be indicative of his inventory of gray matter. Oh, well. Nothing noteworthy in his spew.

    4. Lloyd Scallan says:

      Day after day, Obama, this maniacal narcosis, stands before his teleprompters, looks into the cameras, then lies through his teeth to the American people without any remorse of consideration for honesty or values. This is what some people voted to put in the White House. Yet, despite the clear understanding of what is Obama, there are still those out there, in particular the media, the DNC and the Dems in Congress, that continue to support him. WHY! Do they really want this nation destroyed as Obama does? Whatever the reason, we should all fear and loath those that will pledge to Obama.

    5. janet says:

      I am soooooo incensed!!!! These people seriously need a psychiatric evaluation for their sanity!!! Are they living in the twilight zone? How can they even say anything about this when their spending has exceeded all the spending ever for all the previous presidents. It's time for Emperor Obama to realize that he is in a parade without his new clothes. He is seeing things that do not exist.

    6. William Schumacher says:

      Isn't it true that only the House can authorize spending tax money? The President can request it but doesn't the House have to approve all spending. I believe the President can't spend any money until authorzed by the House.

      • Jeanne Stotler says:

        The first 2 years of this adinistration Princess Nancy made sure that BHOot all he asked for, Now they are running this slurring campaign because the Republican house wants something cut 2cents for very new cent they want to spend, they want tospend and spend, with no cuts in sight. Wht happened to tepledge to audit all depts. of the goverment?? Cut the size of Goverment first,then stop funding al these so called "Green" jobs whic are not going anywhere.

      • Madman says:

        Your exactly right William Schumacher and look at all the people that didn't pay a bit of attention to you and the polititions won't listen because they don't want to step on any polititions toes. You can blame the demos all you want but better look at the republicans also.

      • Pragmatic says:

        I don't know why your comment is disliked by so many. Congress is just as responsible for spending as the President is.

        • Bobbie says:

          I almost agree with you, but the president comes out of the clear blue (while everyone is working diligently to bring this country back under AMERICA'S principles most of us grew up with, not the selfish, president's personal principles) and purposes an outrageous amount, intimidates the members, then mongers the fear, then forces negotiations or the term "compromise" his astronomic proposal that a better leader would have avoided everything this man walked us into without purposing in the first place, while all the president's people watch with bated breath… puts the republicans on the spot for theatrics until they give in which is shameful they do, but when you're constantly blamed for acts beyond your control, it's tough! Still shameful to give into the weak when standing tough would inspire inner strength to expand the minds without common sense, the ability to work with logic, reason, practicality and rationality…

    7. Jeanie says:

      Holy Cow! This is outrageous!! Who would believe this crook of poop he is spewing! Un-freaking-believable! Not only has he NOT shown fiscal restraint, but he has OUTSPENT and Taxed, more than any President in our History!!!!!!! Please do correct me if you feel I am wrong. Geeeeeez-O-Pete!!! And that isn't even the worst of it! He has committed more acts of 'Treason' than any President before him, and NOTHING has been done by our DO NOTHING Congress!! It's like the three monkeys. See no evil, speak no evil, hear no evil. If Congress does NOT get off their butts, and start IMPEACHMENT proceedings, they too will be OUT OF A JOB. Ever heard of an organization called GOOOH??? It stands for, (GET OUT OF OUR HOUSE). Those idiots in Congress have till November to do something RIGHT!!! If NOT you WILL be replaced and out of a job! It's TIME to do something RIGHT for a change!

      • Clearhead says:

        Jeanie, 'see no evil, speak no evil, hear no evil' is a moderate analogy. How about Larry, Curly and Moe? Oh, excuse me, in this case it was Harry, Squirrely and Bo. What a sad day for all when the Democrats and their lemmings finally wake up to reality !! Although we know it's coming, it's still to be dreaded.

    8. Rick Lathrop says:

      If it looks like a duck and quacks like a duck, it's a duck! President Obama is the big spender of all big spenders, and he's spending our money and our children and grandchildren's money. It's time for a real change. November is on the way!

    9. The truth always comes out in the end!

    10. Löhr Brooks says:

      More reason not to believe in " Hype & Blame – Obama 2012 ". Can't blame him for his medical condition, high sphincter….found just below his nasal cavity .

    11. Jim Wolff says:

      The guy is a disgrace to the office! He lies and the MSM lets him get away with it. Nov 2012 will deliver a final blow to his inflated ego, out of control spending, lies and half truths.

    12. Nature's gravity makes your statement true. What goes up will come down. Its been that way since the earth was formed some 4.5 Billion years ago. What the Democrats and the Obama administration have figured out is how to delay the fall of our debt package back to earth. They have accomplished that by tying the debt package to a "stimulus parachute".

    13. drshurley says:

      Now now, you people are being much too harsh! He could have spent TWICE as much, so there is his "fiscal restraint." And he only spent on things that were REALLY REALLY important to him, and there is his "fiscal responsibility." Read the book "How Do You Kill 11,000,000 People?" by Andy Andrews. Politicians lie. Period. But I've never seen anyone whose lies are as blatantly obvious as Herr Obama's. Every time he opens his mouth, another lie emerges. The sad thing is that his lies work. Too many Americans don't see the need to look deeper than the words. They simply take the easy way out and believe what they hear and read without critical evaluation.

    14. Bill Lee says:

      President Obama is now saying he has increased spending to its lowest level of any other President in 60 years. I am not buying his statement however. Percentage wise he may have increased spending lower than Bush but it is still alot of spending. He is probably not using the money spent in 2009 which was part of Bush's budget. But lot of it was discreationary spend that he could have not spent.
      No matter what we must cut Federal Spending should cut some head count of Federal employees.

    15. BLVD says:

      Obama is not a big spender, he is an "investor" of taxpayer $, a 1 %er multi millionaire who reaps big payoffs, from recipients (unions, universities, too big to fail banks, G.E, GM, etc.) of Obama's "investments". If he is unable to cancel elections by declaring martial law, he will have a Clintonesque retirement awaiting.

    16. T T Tony says:

      When socialism reports for duty, the money goes AWOL and the revenue to support the Nanny state along with it. And, when we run out of other people's money, BINGO!, Greece.

    17. Wayne Peterkin says:

      I am having a sign made to put on my vehicles this summer. It says:

      Want Higher Taxes – Vote Democrat

      Want Reduced Spending – Vote Republican

      It Really Is That Simple.

    18. C. Hyatt says:

      Yep, he is almost done with the U.S.A. As he called it "Fundamental Change". More like "Total Change". This man has spoken the truth lately that "he has done more to change the U.S. than any other President". The problem is that there are still many morons out there who believe that he is going to "cover the costs for them". Right up until the money runs out. Of course everything he is doing, including the massive spending is GWB's fault. All of it. So, that gives him the cover or so he thinks. Even a stupid person at some point figures out that they still do not have a job, a house or any financial security. Like the hamburger ad says "Where's the beef?". It ain't in this administration.

    19. Donald DaCosta says:

      It has long been obvious that the Obama administration and the democrats believe that their dedicated voting block and younger voters in particular, are ignorant, ill informed and gullible enough to unquestionably believe whatever emanates from the progressive, dedicated, media propaganda machine. Just as they'll believe that he is "all about jobs," was solely responsible for the assassination of Osama Bin Laden, will make the earth cool, stop the seas from rising, replace fossil fuels with wind & solar and needs more time to solve the "unprecedented economic crisis" caused by his "incompetent" predecessor. Vote Obama in 2012 or suffer the disastrous consequences of "the failed policies of the past" or because "he's just cool man."

    20. allosaur says:

      Hey, guys, why worry? Joe Biden said we can spend our way out of debt. Excuse me while I go see why I am extinct.

    21. GRACE E. PRATTI says:

      ITS A WONDER HOW A PERSON OR PERSONS THAT HAS A TITLE THINKS , THEY ARE ABOVE THE LAW IT HAPPEN WITH BUSH AND IRAQ AND NOW WITH OBAMA'S SPENDING, WHEN ITS FOR THE PEOPLE AND BY THE PEOPLE. NOT PRESIDENTS, SENATES, CONGRESSMEN AND SO ON. WHITE HOUSE ADMINISTRATION'S NEED TO BE REMINDED THAT THEY ARE THERE FOR THE PEOPLE NOT FOR THEMSELVES.

    22. Ron W. Smith says:

      Big spender? Of course. As long as Obama's at the helm and we're spending more than the rest of the world COMBINED on the quintet of National Defense, Nation Building, Homeland Security, Foreign Aid Designed to Gain the Cooperation of Other Countries, and Veterans Affairs, Obama is a big spender. Until he says no to $1,000,000,000,000 a year on the five, until he ends our extravagant power forward foreign policy, he's a big spender. Being SuperPower on Call in these lean times when frugality is called for makes little sense except for those with empire on their minds, and, sad to say, with borrowed money to work with.
      As taxpayers, don't you feel just a bit put upon when you see that China spends on their National Defense just 20% of what we do and has no particular overhead for Nation Building, spends virtually nothing by comparison with the U.S. on Homeland Security, finds little need to put big money into Foreign Aid Designed to Gain the Cooperation of Other Countries, and having few veterans of foreign interventions and wars has a counterpart to our Veterans Affairs Administration that costs so little? Don't you feel it a peculiar use of taxpayer (and borrowed) money to maintain more than 700 large and small military installations, on land and at sea, around the world when China has so few of them to support, preferring their role as lender of money to their North American friends?
      Yes, Mr. President, you're a big spender as long as you buy into the expenditure of that $1 trillion and more every single year. Stop it, President. We're on to you.

    23. Ray Bell says:

      You know what's scary? I think he really believes this crap. I tried spending to get out of debt. It doesn't work. It didn't work for me and it's not going to work for our country.

    24. Dick says:

      I am wondering how the president's spending in the executive branch and even his own personal / White House accounts compare to other presidents. Anyone have those numbers?

    25. Bob Beaumont says:

      The 800lb gorilla in the room is that the GDP went down so much due to the recession. The author is not being honest in this discussion.

    26. Mark says:

      The heritage foundation just want to continue misleading the American public. Where is fact? I think it's the opposit . Spending under the Obama administration is the lowest in almost 60 years.

    27. Theo says:

      The author of this article should be enshrined in the Hall of Fame for Propagandists right next to Baghdad Bob.

    28. Blair Franconia, NH says:

      As the song from Sweet Charity says, "HEY, BIG SPENDER! HEY, BIG SPENDER! HEY, BIG SPENDER, SPEND A LITTLE TIME WITH ME."

    29. Alan Henry says:

      What is the secret; Obama is Financially illiterate?: Just ask him to read a "spread sheet" and fall over laughing.

      Alan Henry, aka "SMEAR" The blog of truth!

    30. "There are some things that are so apparent that they’re not even worth mentioning. What goes up must come down. The earth is round. "

      I'd like to point out these two "obvious" one was not realized until 1493 (and after several scientist got burnt at the stake for pointing it out) and the other was not finallize either until the late 17th C, oh right and the first guy to seriously come out and test it was ALSO tried for Heresy (though for other things)

    31. Bobbie says:

      Obama is high maintenance and so is his recking crew!

    32. Ron Marlar says:

      This is supposed to be news that a Dem Lib/Prog – Obama presently – is a big spender of other peoples' money while making and keeping a fortune for themselves?

    33. nanblan says:

      I'd like to point out what liberals and mainstream media are conveniently forgetting to talk about regarding the state of Obama’s economy. His is the only presidency in our history during which our long standing AAA credit rating was lowered (last year – see link below:) http://www.usatoday.com/money/economy/2011-08-05-
      In addition, the credit raters have just issued a new warning to Obama, saying that the United Stated needs a "credible plan" to avoid another downgrade of the country's credit rating. For example, Moody's and Fitch's Ratings have not yet lowered the country's credit rating, but they have both assigned the U.S. a negative outlook, implying that Obama needs to act to avoid a downgrade (read story below:) http://www.upi.com/Business_News/2012/05/26/Credi
      Now, I'd really like to see how liberals/Obama worshippers might try to also blame Bush for this. I don't think so. It happened under Obama's watch, so he holds the ultimate responsibility.

      • Pragmatic says:

        To be fair, the downgrade was largely driven by Congress's inability to find a sustainable path forward. The House, Senate, and POTUS are all to blame for this one.

        • Bobbie says:

          and how could congress find a sustainable path when the president is on the path of destruction, Pragmatic? To be fair the president presents an inefficient, ineffective, outrageously priced spending packet and wants compliance, NOW! While the same honorable men the president opposes are cleaning up the messes the president continues to dump!

    34. Oat Whitney says:

      Why does Heritage say the National Debt will be at 76% by the year 2022? Are you guys talking ONLY Intragovernmental debt or possibly just Public Debt? Or maybe you are talking the annual Budget Deficit.

      Right now the National Debt is just a tad under 16 trillion dollars, while the GDP is under 15.2 Trillion. We are right now over 100% of Debt to GDP.

      Can anyone on Heritage explain this?

    35. lvruw says:

      this is an outright lie and the heritage foundation knows it, but they don't care, because their sole purpose is to advance the conservative cause. http://www.politifact.com/truth-o-meter/article/2

    36. Jose L. Lira says:

      "Education .. education", a governments' plataform of deception. For the past 3+ years, we've seen them all "talented intellectual minds" .. in action. Graduates .. most all, from the rich and fancy Ivy League Schools, who, clearly, don't have a clue or any idea on how to solve our national economic crisis … much less of their zero-capacity about finding a responsible solution to properly address our national debt … or their failure to present a plan on job creation. "Frauds" .. each and every one of them. But most deceitful of all, has been the Obama's failed idea to "stimulate" our economy by excessively wasting of our taxpayer's money, or that of his deceitful claim of creating jobs … while in fact, his job cration has only amounted to more of his plan for BIG government expansion. Obama and his bunch of incompetents need to go.

    37. @TyJuanOn says:

      This website is nothing but a bold faced lie and ignorant people are believing it. Are you so uneducated you take very word as gospel? Do the research you morons. Mike Brownfield is one of the reasons why people continue to remain so ignorant. These are lies he's writing about. Use your own brain to think, what's left of it.

    38. Forpar says:

      Looking for factual data to dispute this nonsense about Obama NOT being a big spender. This is not it. Hello, anyone can see that looking at debt as a percentage of the national income is a joke. We went through a recession of course it increased! Only a homer is going to board that argument. Give me some common sense, some real dollar increase in spending and a sound argument of why Obama is responsible for spending it. From what I see, the real sticking point is the huge jump in spending at the beginning of his term. Who increased it Bush or Obama. That is what I want to know and why is it such a gray area??

    39. John Jay says:

      How apparent is it really that the Earth is round?

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