Wall Street Journal (!!): "Obama spending spree" is a falsehood

[Andy9o8 0]

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

Excerpt/lead paragraphs (please read the entire article for complete context).
Full Article Copyright 2012 MarketWatch/Wall Street Journal.

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Obama spending binge never happened

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.

.....

[funjumper101 15]

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

Excerpt/lead paragraphs (please read the entire article for complete context).
Full Article Copyright 2012 MarketWatch/Wall Street Journal.

Quote

Obama spending binge never happened

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.

.....

Get yourself to the RWC Koolaid RIGHT AWAY!!!

You might end up having actual factual knowlege about the LIES spread by the "liberal" media that is wholly owned by large corporations.

Facts don't matter to the dumbfuck assholes that watch Faux news, believe the shit at Newsmax, and think that the drug addled gasbag has been a positive influence on society. The cancer on the USA that is RWC philosophy has come to the point where it is terminal. We're fucked.

[lawrocket 3]

This is where both sides are assholes.

Anyone who talks about Obama massively increasing spending has two problems: (1) Congress spends money, not the POTUS; and (2) Spending has not increased massively under Obama. it's bullshit.

On the other side, though, claiming that spending under Obama is not the most ever is bullshit. Spending just hasn't INCREASED as much under Obama as other presidents. Sure, the spending is STILL more than any other President, but by golly by gee Obama he hasn't increased it as much.

I compare it to speeding. Under Bush the Feds went from 90 mph to 110 and then 150. After three years of Obama we're only at 170 mph. Why, for anyone to accuse Obama of speeding is an outrage! Look at hat he was handed! What is he supposed to do, take his foot off of the accelerator?

Asshole right-wing tea partiers just don't get it! The onlu way to slow the care down is when it runs out of gas. I credit Obama and Congress for working hard to ensure that when the crash comes it will be sooner and more severe than if they'd just slowed down.

My wife is hotter than your wife.

[billvon 2,435]

Look for Romney to flip-flop and blame Obama for not spending enough. (Some conservatives here have already done that.)

[rushmc 18]

The stories out about spending are based on a pie chart that Pelosi used a while back

Might want to check on stuff before you go off like kallend or quade

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Bertt 0]

While we're talking about all the things the president is single-handedly responsible for, I would like to thank President Obama for using his awesome presidential powers to make the price of gasoline go down.

You don't have to outrun the bear.

[Gravitymaster 0]

Here's comparative spend as a % of GDP.

Looks a little different now doesn't it?

[billvon 2,435]

>Looks a little different now doesn't it?

I suspect that once the economy recovers conservatives will be saying "you can't use the GDP! It's improving now so it makes him look better!"

[headoverheels 291]

Thanks for showing how Bush took a good situation from Clinton and made a mess out of it by the end of his two terms. Even though the average, 2002-2009 was lower,
in January 2009, Bush handed Obama annual spending at a rate of 24.9 percent of gross domestic product. Total spending this year, fiscal year 2012, is expected to be 23.4 percent of GDP. So, even in the poor economy and while cutting taxes, under Obama spending has decreased as a percent of GDP.

[rushmc 18]

http://www.foxnews.com/politics/2012/05/27/obama-thrifty-spending-claim-uses-some-creative-accounting/

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"Federal spending since I took office has risen at the slowest pace of any president in almost 60 years," Obama said at a campaign rally Thursday in Des Moines, Iowa.

The problem with that rosy claim is that the Wall Street bailout is part of the calculation. The bailout ballooned the 2009 budget just before Obama took office, making Obama's 2010 results look smaller in comparison. And as almost $150 billion of the bailout was paid back during Obama's watch, the analysis counted them as government spending cuts.

It also assumes Obama had less of a role setting the budget for 2009 than he really did.

Obama rests his claim on an analysis by MarketWatch, a financial information and news service owned by Dow Jones & Co. The analysis simply looks at the year-to-year topline spending number for the government but doesn't account for distortions baked into the figures by the Wall Street bailout and government takeover of the mortgage lending giants Fannie Mae and Freddie Mac.

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[billvon 2,435]

>The problem with that rosy claim is that the Wall Street bailout is part of >the calculation. The bailout ballooned the 2009 budget just before
>Obama took office . . . .

Yep, that particular bit of spending came from Bush.

[Gravitymaster 0]

and was passed by a House and Senate controlled by what party?

[rushmc 18]

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and was passed by a House and Senate controlled by what party?

and Obama asked Bush to release another 400 billion of TARP before he left office so it would be there for Obama

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Gravitymaster 0]

This is just the latest attempt by left-wingers to prop up the re-election of a President who is so clearly over his head, that one would have to be a very hard core partisan hack not to see it.

[billvon 2,435]

>This is just the latest attempt by left-wingers . . .

. . . to get the truth out? And right wingers seem sorta allergic to it.

>of a President who is so clearly over his head

I'd agree, actually. But he's learning fast, and he's demonstrating that he's a better choice than the etch-a-sketch.

[Gravitymaster 0]

The tricky accounting they are using is that they are debiting Bush for the bailout, which had to be approved by the Democratically controlled Congress, and then counting the repayment under Obama as cutting govt. spending. Surely you can see thru that?

[rickjump1 0]

We are in the process of turning into an ineptocracy.

Do your part for global warming: ban beans and hold all popcorn farts.

[mirage62 0]

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But he's learning fast, and he's demonstrating that he's a better choice than the etch-a-sketch.

REALLY Bill? Where has he shown this learning curve improvement? Romney "etch-a-sketch" has made business decisions that Obama hasn't even DREAMED of. Obama doesn't have a clue. But your idea is that he's LEARNING?????

Obama is a great campanier and thats it. He'll ruin the country with another term. His devisive nature is the only way he can get elected this time. Do you recall "Hope and change" of course that was ALL the Rep fault.

He wasn't the uniter he claim to be, his pay your fair share attack is bullshit. He talkes like he is after BIG companies but what he wants to pass is pointed at small companies. Certainly not his buddies at GE.

Vent over

Kevin Keenan is my hero, a double FUP, he does so much with so little

[rushmc 18]

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But he's learning fast, and he's demonstrating that he's a better choice than the etch-a-sketch.

REALLY Bill? Where has he shown this learning curve improvement? Romney "etch-a-sketch" has made business decisions that Obama hasn't even DREAMED of. Obama doesn't have a clue. But your idea is that he's LEARNING?????

Obama is a great campanier and thats it. He'll ruin the country with another term. His devisive nature is the only way he can get elected this time. Do you recall "Hope and change" of course that was ALL the Rep fault.

He wasn't the uniter he claim to be, his pay your fair share attack is bullshit. He talkes like he is after BIG companies but what he wants to pass is pointed at small companies. Certainly not his buddies at GE.

Vent over

To add to your vent

The attack add Obama put out looking at a specific situation where Bane Capital layed off employee was two years after Mitt left the company

Add to that the fact that Obama has a private equity dude working for his re-election in the west. (Pena, the former Denver mayor)
A company that has done more liquidations in two years than Bane did in He is doing exactly what Obama is accusing Mitt of doing. Right NOW

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Gravitymaster 0]

Obama did the same thing he accuses Romney of when he took over GM. They went in and laid people off in order to reduce the comapnys overhead and streamline it's profitability. Same thing Bain Capital did with the failing companies they tried to go in and save.

[rushmc 18]

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Obama did the same thing he accuses Romney of when he took over GM. They went in and laid people off in order to reduce the comapnys overhead and streamline it's profitability. Same thing Bain Capital did with the failing companies they tried to go in and save.

Do you know how many GM dealerships were closed because of Obama?

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Gravitymaster 0]

Quote

Quote

Obama did the same thing he accuses Romney of when he took over GM. They went in and laid people off in order to reduce the comapnys overhead and streamline it's profitability. Same thing Bain Capital did with the failing companies they tried to go in and save.

Do you know how many GM dealerships were closed because of Obama?

I don't recall how amny actually were closed but the original proposal was about 1450 from GM and about 800 from Chrysler.

I have never understood the thinking on this as the dealerships are franchises and operate as seperate and competitive companies with GMC and Chrysler simply supplying the product. I don't see how having fewer dealerships make the comapny more profitab;e. If anything, it forces consumers to consider other automobile brands due to their proximity.

[kelpdiver 2]

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Obama did the same thing he accuses Romney of when he took over GM. They went in and laid people off in order to reduce the comapnys overhead and streamline it's profitability. Same thing Bain Capital did with the failing companies they tried to go in and save.

Do you know how many GM dealerships were closed because of Obama?

this is a spectacularly stupid point to make, considering that Romney advocating letting GM fail, thus closing ALL dealerships.

This thread is an epic fail by you guys - focuses on "Presidential" spending even though Congress does the work, but any special Bush spending is Congress's fault, not his, even though he was in charge when the need for the spending arose. And I like how that graph GM puts up shows Obama's year by year, but doesn't want to show Bush 2008 (for obvious reasons) and instead hides it by averaging the entire term).

Will you guys move if Obama wins? I don't think your BP can handle 4 more years. Way too emotionally invested.

[rushmc 18]

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Quote

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Obama did the same thing he accuses Romney of when he took over GM. They went in and laid people off in order to reduce the comapnys overhead and streamline it's profitability. Same thing Bain Capital did with the failing companies they tried to go in and save.

Do you know how many GM dealerships were closed because of Obama?

this is a spectacularly stupid point to make, considering that Romney advocating letting GM fail, thus closing ALL dealerships.

This thread is an epic fail by you guys - focuses on "Presidential" spending even though Congress does the work, but any special Bush spending is Congress's fault, not his, even though he was in charge when the need for the spending arose. And I like how that graph GM puts up shows Obama's year by year, but doesn't want to show Bush 2008 (for obvious reasons) and instead hides it by averaging the entire term).

Will you guys move if Obama wins? I don't think your BP can handle 4 more years. Way too emotionally invested.

It should have been allowed to fail

You work from a failed premise
No need to go further

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln