Obama Disputes GOP Claims of Big Spending

Thursday, 24 May 2012 10:17 AM

By Greg McDonald

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Citing a report based on Congressional Budget Office (CBO) data, President Barack Obama is disputing Republican claims that he has presided over a huge increase in government spending, according to ABC News’ OTUS blog.
 
At a fundraising event in Denver Wednesday night, Obama insisted that he is “running to pay down our debt in way that’s balanced and responsible,” saying that he inherited a $1 trillion deficit and has signed $2 trillion in spending cuts into law to deal with it.

“Since I’ve been president, federal spending has risen at the lowest pace in nearly 60 years,” the president said.

Obama’s references to spending were apparently based on an analysis released earlier this week by CBS MarketWatch reporter Rex Nutting, who found after examining CBO data that spending under Obama has risen at only a 1.4 percent pace.

The big surge in federal spending happened in fiscal 2009, before Obama took office,” Nutting concluded in his report. “Since then, spending growth has been relatively flat.

“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 percent. There has been no huge increase in spending under the current president, despite what you hear,” Nutting added.

Republicans, however, disagree.
 
According to ABC OTUS, the Republican National Committee released a statement pointing out that while spending and debt may have actually slowed, they still view Obama as the “undisputed debt king” of the last five presidents, a designation that Politifact saddled him with last year.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Kerry: There is Role for Iran in Tackling ISIS

Friday, 19 Sep 2014 16:08 PM

Secretary of State John Kerry said on Friday that Iran had a role to play in a global coalition to tackle Islamic State  . . .

NFL Commissioner Goodell: 'Same Mistakes Can Never be Repeated'

Friday, 19 Sep 2014 15:31 PM

Commissioner Roger Goodell says that "over the past several weeks, we have seen all too much of the NFL doing wrong; tha . . .

Senate Sets $10 Million Bounty on Journalists' Murderers

Friday, 19 Sep 2014 15:23 PM

The Senate has unanimously approved a bill providing up to $10 million for information leading to the arrest or convicti . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved