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Donger
11-25-2009, 11:35 AM
http://www.foxnews.com/politics/2009/11/24/obama-shatters-spending-record-year-presidents/

President Obama has shattered the budget record for first-year presidents -- spending nearly double what his predecessor did when he came into office and far exceeding the first-year tabs for any other U.S. president in history.

In fiscal 2009 the federal government spent $3.52 trillion -- $2.8 trillion in 2000 dollars, which sets a benchmark for comparison. That fiscal year covered the last three-and-a-half months of George W. Bush's term and the first eight-and-a-half months of Obama's.

That price tag came with a $1.4 trillion deficit, nearly $1 trillion more than last year. The overall budget was about a half-trillion more than Bush's for 2008, his final full fiscal year in office.

Click here to read FOXBusiness.com's Elizabeth MacDonald describe what the interest on the debt can buy.

That's a big increase. But compared with other presidents' first years in office, Obama is running circles around them.

Bush spent $1.8 trillion in 2001, according to government budget figures that have been adjusted for inflation based on 2000 dollars. Using the same formula, former President Bill Clinton spent $1.6 trillion in 1993.

The last president to clock in under $1 trillion was Gerald Ford, who logged a $982 billion budget in 1975. Post-war Dwight Eisenhower even brought Uncle Sam's tab down to $556 billion in his first year, 1953.

Obama's first-year budget, adjusted for inflation, is about five times that. His 2009 budget is also close to 21 percent of that for Clinton's eight years in office -- Clinton's spending added up to $13.5 trillion over his two full terms. Bush spent $16.8 trillion from 2001-2008.

mlyonsd
11-25-2009, 11:45 AM
No worries. The rich folk will pick up the tab.

petegz28
11-25-2009, 11:45 AM
Direckshun will be along here soon to slam you for using Fox and justifying the immense spending by Dear Leader.

Norman Einstein
11-25-2009, 11:56 AM
No worries. The rich folk will pick up the tab.

You do know that will be anyone making above minumum wage, right?

Amnorix
11-25-2009, 01:29 PM
Doesn't the federal fiscal year end in October? And it was passed when? And who was President then?

I'm not 100% sure, but I think the answer is yes, last year, and Bush...

Not, of course, that our spending isn't absurd and needs to be curtailed asap.

Donger
11-25-2009, 01:31 PM
Doesn't the federal fiscal year end in October? And it was passed when? And who was President then?

I'm not 100% sure, but I think the answer is yes, last year, and Bush...

Not, of course, that our spending isn't absurd and needs to be curtailed asap.

In fiscal 2009 the federal government spent $3.52 trillion -- $2.8 trillion in 2000 dollars, which sets a benchmark for comparison. That fiscal year covered the last three-and-a-half months of George W. Bush's term and the first eight-and-a-half months of Obama's.

ROYC75
11-25-2009, 01:40 PM
Looks like a tag team here, Obo was in the ring longer shelling out the dough..

HonestChieffan
11-25-2009, 03:00 PM
If he did that in 8 1/2 months, imagine what he can do in a full year.