Obama spending binge never happened

[The Infidel]

Here's a more accurate graphic that shows how Bush left things and what Obama did to improve them:

Obama has done NOTHING to improve things!!! You are a hack of the highest order Dick.

From the second he got his Stimulus bill signed, things started to improve. By March, '09, the GDP started out of recession and first time jobless claims began to drop. As of today, our automobile industry is healthy, with tens of thousands of good paying jobs saved. Unemployment is trending down. Small businesses are coming back.

You're a bullshit artist of the highest order.

Holy shit... you have absolutely NO shame do you?

 

[The Infidel]

Obama used TARP money to buy GM and Chrysler. Bush didn't. Obama was paid back a lot of the TARP funds but spent it again. Bush didn't.

Lets see how Dick explains this away

 

[Dick Tuck]

Oh bullshit they were.......

Try this out for size:

Until Barack Obama took office in 2009, the United States had never spent more than 23.5% of GDP, with the exception of the World War II years of 1942-1946.

Here’s the Obama spending record:
– 25.2% of GDP in 2009

– 24.1% of GDP in 2010

– 24.1% of GDP in 2011

– 24.3% (estimates by the White House ) in 2012

What’s more, if Obama wins another term, spending—according to his own budget—would never drop below 22.3% of GDP. If that forecast is right, spending during Obama’s eight years in office would average 23.6% of GDP. That’s higher than any single previous non-war year.

Yet financial columnist Rex Nutting of MarketWatch tries to portray the president as being downright stingy in a piece entitled, stunningly, “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. Government spending under Obama, including his signature stimulus bill, is rising at a 1.4% annualized pace — slower than at any time in nearly 60 years.

And here’s the chart summarizing Nutting’s argument:

As the chart indicates, Nutting arrives at that 1.4% number by assigning 2009—when spending surged nearly 20%—to George W. Bush: “The 2009 fiscal year, which Republicans count as part of Obama’s legacy, began four months before Obama moved into the White House. The major spending decisions in the 2009 fiscal year were made by George W. Bush and the previous Congress. Like a relief pitcher who comes into the game with the bases loaded, Obama came in with a budget in place that called for spending to increase by hundreds of billions of dollars in response to the worst economic and financial calamity in generations.”

Let me complete the metaphor for Nutting: “Then as those runners scored, Obama kept putting more on base.”

Obama chose not to reverse that elevated level of spending; thus he, along with congressional Democrats, are responsible for it. Only by establishing 2009 as the new baseline, something Republican budget hawks like Paul Ryan feared would happen, does Obama come off looking like a tightwad. Obama has turned a one-off surge in spending due to the Great Recession into his permanent New Normal through 2016 and beyond.

It’s as if one of my teenagers crashed our family minivan, and I had to buy a new one. And then, since I liked that new car smell so much, I decided to buy a new van every year for the rest of my life. I would indeed be a reckless spender.

Here is another way Nutting could have framed the spending issue:

The Obama spending record looks a little different now, yes?

Mark Levin

This in no way disputes the facts presented. The pathetic little trick that Levin uses is to ignore how revenues collapsed due to Bush's failed economic policies. Levin also repeats the lie that Obama is getting the hit for his Stimulus bill, but the article does incllude it:

If we attribute that $140 billion in stimulus to Obama and not to Bush, we find that spending under Obama grew by about $200 billion over four years, amounting to a 1.4% annualized increase.

Should Obama take the hit for Tarp 2? Nope, that was passed and signed for under Bush. Do the wingnuts include the funds that are actually being repaid, or the increase in our stock equity of the companies we bailed out? Nope.

Another lie is Levin's graphic. He uses average spending growth as a percent of GDP. He ignores the fact that the GDP decline in '08 through the first quarter '09 was the worst drop since the post WWII recession. It's very intellectually dishonest.

Here's a more accurate graphic that shows how Bush left things and what Obama did to improve them:

Obama used TARP money to buy GM and Chrysler. Bush didn't. Obama was paid back a lot of the TARP funds but spent it again. Bush didn't.

And it was well spent. The fact is that it was Bush who authorized the funds. Obama did two major things. He converted the nonvotiing shares to common shares, to make sure the taxpayer was protected, and he used the funds to help stabilize other major industries that we have a strategic interest in. It worked.

 

[BDBoop]

PolitiFact | Viral Facebook post says Barack Obama has lowest spending record of any recent president

Our ruling

The Facebook post says Mitt Romney is wrong to claim that spending under Obama has "accelerated at a pace without precedent in recent history," because it's actually risen "slower than at any time in nearly 60 years."

Obama has indeed presided over the slowest growth in spending of any president using raw dollars, and it was the second-slowest if you adjust for inflation. The math simultaneously backs up Nutting’s calculations and demolishes Romney’s contention. The only significant shortcoming of the graphic is that it fails to note that some of the restraint in spending was fueled by demands from congressional Republicans. On balance, we rate the claim Mostly True.

 

[Stephanie]

Obama has done NOTHING to improve things!!! You are a hack of the highest order Dick.

From the second he got his Stimulus bill signed, things started to improve. By March, '09, the GDP started out of recession and first time jobless claims began to drop. As of today, our automobile industry is healthy, with tens of thousands of good paying jobs saved. Unemployment is trending down. Small businesses are coming back.

You're a bullshit artist of the highest order.

Holy shit... you have absolutely NO shame do you?

most Obamabots don't..but the people (suffering) under this administration see through their made up bull..

 

[Conservative]

Another factless hershey squirt spewed from the ass of Ann Coulter. Why am I not surprised you'd use her as a factual source?

hey you little dork, it was an opinion piece...now go out and play in the streets..

From Ann Coulter. BFD. It was a hershey squirt piece, but that's where you like to be told what to think.

 

[mudwhistle]

This in no way disputes the facts presented. The pathetic little trick that Levin uses is to ignore how revenues collapsed due to Bush's failed economic policies. Levin also repeats the lie that Obama is getting the hit for his Stimulus bill, but the article does incllude it:



Should Obama take the hit for Tarp 2? Nope, that was passed and signed for under Bush. Do the wingnuts include the funds that are actually being repaid, or the increase in our stock equity of the companies we bailed out? Nope.

Another lie is Levin's graphic. He uses average spending growth as a percent of GDP. He ignores the fact that the GDP decline in '08 through the first quarter '09 was the worst drop since the post WWII recession. It's very intellectually dishonest.

Here's a more accurate graphic that shows how Bush left things and what Obama did to improve them:

Obama used TARP money to buy GM and Chrysler. Bush didn't. Obama was paid back a lot of the TARP funds but spent it again. Bush didn't.

And it was well spent. The fact is that it was Bush who authorized the funds. Obama did two major things. He converted the nonvotiing shares to common shares, to make sure the taxpayer was protected, and he used the funds to help stabilize other major industries that we have a strategic interest in. It worked.

Worked in what way?

Wtf are you talking about Dick?

It's true Bush authorized it but he didn't spend even half of it.

And your graph has some missing information indicated by items 1 and 4. Where are the explanations?

 

[DiamondDave]

Here's a more accurate graphic that shows how Bush left things and what Obama did to improve them:

Obama has done NOTHING to improve things!!! You are a hack of the highest order Dick.

From the second he got his Stimulus bill signed, things started to improve. By March, '09, the GDP started out of recession and first time jobless claims began to drop. As of today, our automobile industry is healthy, with tens of thousands of good paying jobs saved. Unemployment is trending down. Small businesses are coming back.

You're a bullshit artist of the highest order.

1) Jobs saved.. bullshit and unquantifiable
2) Uncontrolled spending by borrowing more is not sustainable, especially when we have a huge spending problem to begin with
3) Jobless claims drop when you stop counting people who have simply given up.. we have more out of the work force, not less
4) You're a fact twisting piece of shit

That is all

 

[naturegirl]

Does anyone else get the feeling Obamavider is trying to rewrite history and his hypnotized followers are falling for it???

Does anyone honestly believer Obama has spent "very little" $$$$$, really, I mean really???

 

[Sokar]

Is Dick Tuck an act or is this nutjob legit? I can't tell.

Seems a little over the top.

When some pathetic little pissant lies, and calls me a Holocaust denier, I tend to get a little pissed off.

Speaking of lies, did you notice the bullshit lies in your article?

The author decided to generously assign a good bit of Obama's tab in his first year to Bush.

Blame Bush? Yeah, I know. That's a real shocker.

 

[mudwhistle]

PolitiFact | Viral Facebook post says Barack Obama has lowest spending record of any recent president

Our ruling

The Facebook post says Mitt Romney is wrong to claim that spending under Obama has "accelerated at a pace without precedent in recent history," because it's actually risen "slower than at any time in nearly 60 years."

Obama has indeed presided over the slowest growth in spending of any president using raw dollars, and it was the second-slowest if you adjust for inflation. The math simultaneously backs up Nutting’s calculations and demolishes Romney’s contention. The only significant shortcoming of the graphic is that it fails to note that some of the restraint in spending was fueled by demands from congressional Republicans. On balance, we rate the claim Mostly True.

The only way it could mostly be true is if you assign most of the spending that took place under Obama to Bush.

Also, let's not forget Politifact is run by a couple of libs in CA that are funded indirectly by George Soros thru the Annenburg Foundation. Annenberg Foundation - Wikipedia, the free encyclopedia

They help fund PBS and other liberal media programs.

 

[Dick Tuck]

From the second he got his Stimulus bill signed, things started to improve. By March, '09, the GDP started out of recession and first time jobless claims began to drop. As of today, our automobile industry is healthy, with tens of thousands of good paying jobs saved. Unemployment is trending down. Small businesses are coming back.

You're a bullshit artist of the highest order.

Holy shit... you have absolutely NO shame do you?

most Obamabots don't..but the people (suffering) under this administration see through their made up bull..

Coming from a Coulterbot, like yourself, your analysis is meaningless. You, are lying among others, to pretend that the GDP didn't fall, deeper than any other other recession since 1947. You're also committing a clear lie of omission by leaving out the significant drop in revenue, resulting from the collapse of the Bush economy. You then try, with your omissions, to make a case that Obama is an irresponsible big spender, when the facts show exactly the opposite to be true.

If anyone is transparent, it's you and your tea bagger buddies. You can claim "bull" all day long, but the facts shows you're the bullshit artist.

 

[Dick Tuck]

Obama used TARP money to buy GM and Chrysler. Bush didn't. Obama was paid back a lot of the TARP funds but spent it again. Bush didn't.

And it was well spent. The fact is that it was Bush who authorized the funds. Obama did two major things. He converted the nonvotiing shares to common shares, to make sure the taxpayer was protected, and he used the funds to help stabilize other major industries that we have a strategic interest in. It worked.

Worked in what way?

Wtf are you talking about Dick?

It's true Bush authorized it but he didn't spend even half of it.

And your graph has some missing information indicated by items 1 and 4. Where are the explanations?

The American auto industry is thriving, and the American taxpayer got a return on their investment. I hear that Ford is adding third shifts to their plant, and canceling the usual two week vacation this summer.

Ford, GM shares gain on Moody's upbeat view - MarketWatch

 

[naturegirl]

And it was well spent. The fact is that it was Bush who authorized the funds. Obama did two major things. He converted the nonvotiing shares to common shares, to make sure the taxpayer was protected, and he used the funds to help stabilize other major industries that we have a strategic interest in. It worked.

Worked in what way?

Wtf are you talking about Dick?

It's true Bush authorized it but he didn't spend even half of it.

And your graph has some missing information indicated by items 1 and 4. Where are the explanations?

The American auto industry is thriving, and the American taxpayer got a return on their investment. I hear that Ford is adding third shifts to their plant, and canceling the usual two week vacation this summer.

Ford, GM shares gain on Moody's upbeat view - MarketWatch

You do know Ford didn't take a dime of Stimulus, right?? And GM still owes the Tax payers millions.

 

[Dick Tuck]

Worked in what way?

Wtf are you talking about Dick?

It's true Bush authorized it but he didn't spend even half of it.

And your graph has some missing information indicated by items 1 and 4. Where are the explanations?

The American auto industry is thriving, and the American taxpayer got a return on their investment. I hear that Ford is adding third shifts to their plant, and canceling the usual two week vacation this summer.

Ford, GM shares gain on Moody's upbeat view - MarketWatch

You do know Ford didn't take a dime of Stimulus, right?? And GM still owes the Tax payers millions.

GM is doing just fine, and "they" don't owe us anything. We own stock in the company, and that stock has appreciated significantly since that smart investment. You also know that Ford was trading under $2/share in January '09. They were hanging on by their teeth.

OE: This post was neg repped by Kissmy

 

[BDBoop]

Holy shit... you have absolutely NO shame do you?

most Obamabots don't..but the people (suffering) under this administration see through their made up bull..

Coming from a Coulterbot, like yourself, your analysis is meaningless. You, are lying among others, to pretend that the GDP didn't fall, deeper than any other other recession since 1947. You're also committing a clear lie of omission by leaving out the significant drop in revenue, resulting from the collapse of the Bush economy. You then try, with your omissions, to make a case that Obama is an irresponsible big spender, when the facts show exactly the opposite to be true.

If anyone is transparent, it's you and your tea bagger buddies. You can claim "bull" all day long, but the facts shows you're the bullshit artist.

Good post.

 

[mudwhistle]

And it was well spent. The fact is that it was Bush who authorized the funds. Obama did two major things. He converted the nonvotiing shares to common shares, to make sure the taxpayer was protected, and he used the funds to help stabilize other major industries that we have a strategic interest in. It worked.

Worked in what way?

Wtf are you talking about Dick?

It's true Bush authorized it but he didn't spend even half of it.

And your graph has some missing information indicated by items 1 and 4. Where are the explanations?

The American auto industry is thriving, and the American taxpayer got a return on their investment. I hear that Ford is adding third shifts to their plant, and canceling the usual two week vacation this summer.

Ford, GM shares gain on Moody's upbeat view - MarketWatch

I have to call Bull Shit.

Obama had nothing to do with Ford. They never took TARP funds. GM is another thing. They asked for billions more after already receiving $40 billion in economic aid. They're still in debt to the Treasury a roughly $20 billion.

 

[Stephanie]

most Obamabots don't..but the people (suffering) under this administration see through their made up bull..

Coming from a Coulterbot, like yourself, your analysis is meaningless. You, are lying among others, to pretend that the GDP didn't fall, deeper than any other other recession since 1947. You're also committing a clear lie of omission by leaving out the significant drop in revenue, resulting from the collapse of the Bush economy. You then try, with your omissions, to make a case that Obama is an irresponsible big spender, when the facts show exactly the opposite to be true.

If anyone is transparent, it's you and your tea bagger buddies. You can claim "bull" all day long, but the facts shows you're the bullshit artist.

Good post.

I suppose if you like mindless spew and calling people vulgar names..
figures you would find it a good post..

 

[The T]

The American auto industry is thriving, and the American taxpayer got a return on their investment. I hear that Ford is adding third shifts to their plant, and canceling the usual two week vacation this summer.

Ford, GM shares gain on Moody's upbeat view - MarketWatch

You do know Ford didn't take a dime of Stimulus, right?? And GM still owes the Tax payers millions.

GM is doing just fine, and "they" don't owe us anything. We own stock in the company, and that stock has appreciated significantly since that smart investment. You also know that Ford was trading under $2/share in January '09. They were hanging on by their teeth.

Obama Pushes False GM Success Story

Politics: The Obama camp can't stop clucking about how he saved GM and the car industry. But if the GM bailout is such a success story, why can't it pay back its debt to taxpayers?

The president's new campaign video narrated by actor Tom Hanks claims GM has "repaid" its loans. But in a revelation by the special inspector general monitoring the TARP bailout program, GM and GMAC together still owe the biggest share of the remaining $119 billion TARP debt.

Of the top bailout recipients, GM is the biggest laggard, the TARP watchdog says in his latest quarterly report to Congress. Bank of America, Citigroup, Chrysler and Chrysler Financial all have paid off their debt and left the TARP program. Even AIG has paid back more than 75% of what it owes taxpayers.

GM, on the other hand, still owes more than half the $50 billion in federal funds it received when the combination of the recession and its costly union contracts drove it into bankruptcy. And its lending arm, GMAC (now Ally Financial), still owes $14.5 billion.

 

[mudwhistle]

The American auto industry is thriving, and the American taxpayer got a return on their investment. I hear that Ford is adding third shifts to their plant, and canceling the usual two week vacation this summer.

Ford, GM shares gain on Moody's upbeat view - MarketWatch

You do know Ford didn't take a dime of Stimulus, right?? And GM still owes the Tax payers millions.

GM is doing just fine, and "they" don't owe us anything. We own stock in the company, and that stock has appreciated significantly since that smart investment. You also know that Ford was trading under $2/share in January '09. They were hanging on by their teeth.

If we own stock that means they owe us.

Your arguments have more holes than Swiss Cheese.