Read more.Updated November 24, 2009
Obama Shatters Spending Record for First-Year Presidents
The federal government spent $3.5 trillion during President Obama's first year in office. This far exceeds the spending for any other first-year president.
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.
Obama's budget plan for rest of his term will only make things even worse, because his cabinet is not fiscally responsible.
Read more.Bleak Deficit Numbers Projected Under Obama's Budget Plan
The Congressional Budget Office released figures Friday forecasting that President Barack Obama's budget will produce $9.3 trillion worth of red ink over 2010-2019 and that the deficit for this fiscal year will rise to a record $1.8 trillion.
The CBO also issued gloomier forecasts for the U.S. economy, projecting that it will contract 3 percent in 2009 before growing 2.9 percent next year and expanding 4 percent in 2011.
The report forecasts a record $1.8 trillion deficit for the fiscal year, which ends Sept. 30, under the Obama administration's budget proposal. The CBO then projected the deficit would ebb some to $1.4 trillion for 2010 -- or 9.6 percent of GDP, according to news agencies.
The president's proposal, which was released last month, outlined a $3.5 trillion blueprint for government spending, the largest ever. It included new spending priorities, such as expanded funding for universal health care initiatives and other programs.
The president's budget outline to Congress included a forecast of almost $7 trillion in deficits through 2019, falling some $2.3 trillion short of CBO predictions.
Congress has recently passed two huge spending bills, the $787 billion stimulus package and an omnibus funding measure, amid the recent economic downturn.
"Although the economy is likely to continue to deteriorate for some time," the CBO said, the stimulus package "and very aggressive actions by the Federal Reserve and the Treasury are projected to help end the recession in the fall of 2009." (Comment: end the recession? That's utter lies, the recession has just begun, all stimulus packages are unnecessary waste of money, it only makes things worse with additional debt, because it postpones the real recession which cannot be avoided).
The numbers come as a battle brews in Congress over approval of the budget plan. Republicans were quick to voice concern over the new numbers.
"This report should serve as the wake-up call this administration needs," said House Minority Leader John Boehner, R-Ohio, according to the Associated Press. "We simply cannot continue to mortgage our children and grandchildren's future to pay for bigger and more costly government."
Obama's deeds are different then his charismatic words, because under his presidency, with the help of his wall street-Fed cabinet members, he spent far more money (borrowed from the Federal Reserve) than any other first-year president in American history. Obama throws America into an abyss of more debt with increasing interest rates on the loans.
Also see for example this video:
Alex Jones covers some recent aspects of diplomatic immunity, as extended to Interpol and other foreign agencies, by way of President Obama's Executive Order 12425. They, along with foreign troops & assets have been increasingly used throughout the United States to for 'Homeland' control over the populace.
Check these links for more info:
Obama Extends Diplomatic Immunity to Interpol by Executive Order
Why Does Interpol Need Immunity from American Law?
FEMA: National Level Exercise 2009 (NLE 09)
IDF, US National Guard to share defense ideas
Army Dispatched in Response to End the Fed Protests
The Pentagon Wants Authority to Post Almost 400,000 Military Personnel in U.S.
Secret State Police Report: Ron Paul, Bob Barr, Chuck Baldwin, Libertarians are Terrorists
The Modern Militia Movement-Missouri MIAC Strategic Report 20Feb09
Last edited by Tyrael; 24th-December-2009 at 11:20 AM.
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Fall has fallen by the wayside and is covered in a snowdrift.the stimulus package "and very aggressive actions by the Federal Reserve and the Treasury are projected to help end the recession in the fall of 2009."
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