Tag Archives: spending
Bush VS. Obama On Spending
Posted 3/16/2011 @ 9:38:39 am by rainboreview.com
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Was George W. Bush the “Barak Obama” of the Republican Party?
When it comes to spending, no president has set about spending more than our current resident of the White House, Barak Hussein Obama. In his first sixty days in office, Obama spent more than every president from George Washington to George W. combined. But who, was the number one money spender among the Republican presidents? George Walker Bush.
Far from being a fiscal conservative Republicans expected, Bush went on a spending spree that shocked most Republicans. Republicans in the House and Senate went along with him because he was “Our Guy”, but it was the Democrats that went on an 8 year long “Hate Bush” campaign funded by communist billionaire, George Soros.
Democrat politicians and Hollywood celebrities would get in front of media cameras and declare that Bush is stupid, dumb, Illegitimate, he should be impeached, hung, shot, imprisoned, lynched and he just has no idea what he’s doing. (Those were the Nice things they said). Meanwhile the Republicans were saying in private that he’s spending like a Democrat and he doesn’t know what he’s doing. (And those were the nice things They said.) When it comes to spending, George Bush was the Barak Obama of the Republican party.
During his eight years in office, President Bush oversaw a large increase in government spending. In fact, he increased government spending more than any of the six presidents preceding him, including LBJ. In his last term in office, President Bush increased discretionary outlays by an estimated 48.6 percent. Also during his eight years in office, Bush spent almost twice as much as his predecessor, Bill Clinton. Adjusted for inflation, in eight years, President Clinton increased the federal budget by 11 percent. In eight years, President Bush increased it by a whopping 104 percent.
David Axelrod, an Obama strategist, argued that George W. Bush is responsible for Barack Obama’s deficits. He argued that Bush forced the hand of this administration by leaving office in the midst of a sharp recession. That argument won’t fly for two reasons. First, at some point this administration has to take responsibility for it’s own actions. It’s also not even close to accurate. Consider that from Jan. 20, 2001, to Jan. 20, 2009, the debt held by the public grew $3 trillion under Bush—From $3.3 trillion to 6.3 trillion at a time when the national economy grew as well.
By comparison, from the day Obama took office to the end of the current fiscal year, according to the Office of Management and Budget, the debt held by the public grew by $3.3 trillion. In 20 months, Barak Obama added as much debt as George Bush ran up in eight years. Obama’s spending plan, approved by Congress last February calls for doubling the national debt in five years and nearly tripling it in 10.
From The Congressional Budget Office
The Obama administration has been on history’s biggest spending spree, which has included a $787 billion stimulus, a $30 billion expansion of a child health-care program, and a $410 billion federal spending bill that increased nondefense discretionary spending 10% for the last half of fiscal year 2009. Then he hiked nondefense discretionary spending another 12% for fiscal year 2010. Add on H.R. 1745, Family Health Care Accessibility Act of 2010 and the numbers are out of sight.
Whoever you point your finger at for the responsibility of America’s financial situation, it is clear that past 10 years, 8 with Bush and the past 2 with Obama, the spending has been unprecidented. As bad as it has been so far, it is scheduled to be much worse in the next 2 to 6 years with Obama alone. Be assured however, that if Obama wins the office for a second term, he will still be trying to blame Bush for anything that goes wrong.