Strengthening Constitutional Self-Government

No Left Turns

Economy

Obama's Spending Promises, Then and Now

Power Line's John Hinderaker strikes gold comparing Obama's 2010 fiscal projection for 2012 and his actual 2012 budget "cuts."

In its 2010 budget, the Obama administration projected that in FY 2012, total federal outlays would add up to $3,662,000,000,000. In its actual FY 2012 budget, the administration is asking for total outlays of $3,729,000,000,000. That's right: the Obama administration has responded to skyrocketing deficits and heightened concern about federal debt by increasing the amount it is requesting for next year, compared to its projections of just two years ago, by $67 billion. Only in Washington is this a "cut."

As regards the deficit:

Moreover, in its 2010 budget, the Obama administration projected that in FY 2012, it would run a deficit of $581 billion, or 3.5% of GDP. Now, the administration tells us that its FY 2012 budget will run a deficit of $1.1 trillion, or 7% of GDP, nearly double what it had projected.

The cheerleader media is simply reading their scripts, praising Obama's budget cuts. Is there no one who gets paid to cover politics who is capable of the slightest research and objectivity in this country?

Obama is an addict - he can't control his spending and will say anything to get his fix.

Categories > Economy

Discussions - 1 Comment

Is there really market demand for objectivity?

"Moreover, in its 2010 budget, the Obama administration projected that in FY 2012, it would run a deficit of $581 billion, or 3.5% of GDP. Now, the administration tells us that its FY 2012 budget will run a deficit of $1.1 trillion, or 7% of GDP, nearly double what it had projected."

Because the 2012 budget projected in 2010, did not include the H.R. 4853, aka the extension of the Bush tax cuts.

The difference between the projected FY 2012 and the actual FY 2012 is 1.8%. (but market demand would insist that I change this to "less than 2%"!)

Research and objectivity is a precious commodity, no reasonable person could think that what you find for free is the work product of folks paid to cover politics objectively.

Leave a Comment

* denotes a required field
 

No TrackBacks
TrackBack URL: http://nlt.ashbrook.org/movabletype/mt-tb.cgi/16252