Jungbauer 2010: 7 THINGS YOU NEED TO KNOW About Obama Democrats' Binge Spending

Thursday, December 17, 2009

7 THINGS YOU NEED TO KNOW About Obama Democrats' Binge Spending

1. Dems Will Pay For Binge Spending With $1.8 Trillion Increase In Limit On Taxpayers' Credit Card, Largest 1-Time Increase In History. (David Rogers, "Dems To Lift Debt Ceiling By $1.8 Trillion, Fear 2010 Backlash," Politico, 12/9/09; White House Office Of Management And Budget, "Table 7.3--Statutory Limits On Federal Debt: 1940-Current," Accessed 12/11/09)

2. Obama's Deficit In 1^st Month Of 1^st Full Fiscal Year: $176 Billion; Deficit During Bush's Entire 1^st Full Fiscal Year: $159 Billion. (Monthly Budget Review: Fiscal Year 2002: A Congressional Budget Office Analysis, Congressional Budget Office, 11/8/02; Jeanne Sahadi, "October Deficit $176 Billion," CNNMoney.com, 12/10/09)

3. Obama Rang Up Record-Setting $1.42 Trillion Deficit In 1^st Year In Office, Nearly Triple The Previous Record. (David Jackson, "Obama Team Makes It Official, Budget Deficit Hits Record. By A Lot," USA Today's "The Oval" Blog, 10/16/09)

4. Obama's Non-Defense Discretionary Spending To Increase By 16 Percent This Year, Highest 1-Year Increase Since Jimmy Carter In 1978. (White House Office Of Management And Budget, "Table 8.7--Outlays For Discretionary Programs: 1962-2014," Accessed 12/11/09)

5. Obama's Binge Spending Will Nearly Double National Debt Over 9 Years, From $11.9 Trillion To $23 Trillion. (White House Office Of Management And Budget, "Mid-Session Review: Fiscal Year 2010," 8/25/09)

6. Obama's Binge Spending Will Lead To National Debt Being 76 Percent Of GDP By 2019, Largest Percentage In 60 Years. ("Report To The Secretary Of The Treasury: Financial Audit: Bureau Of The Public Debt's Fiscal Years 2009 And 2008 Schedules Of Federal Debt," United States Government Accounting Office, 11/09; Lori Montgomery, "Deficit Projected To Soar With New Programs," The Washington Post, 8/26/09)

7. Obama Has Increased Size Of Government By 64 Percent Since Taking Office, Largest Increase In At Least 3 Decades. (White House Office Of Management And Budget, "Discretionary Budget Authority By Agency: 1976-2014," Accessed, 12/11/09)