Responsible Spender?

In the past week, President Obama, on the campaign trail, has tried to convince his audiences—and us as well—that he has been the most responsible spender in recent presidential history. He used as his proof an article written by someone who drew all his information from a presentation by Nancy Pelosi. Now there’s a solid source. In order to believe this spin, one has to place all 2009 spending on former President Bush. How can anyone do that? Well, since 2009 spending started under a Bush budget that began in 2008, surely it all belongs to him, right? Not when you actually look at the facts, which somehow elude our current leader. Bush never signed that budget: Obama did later. The faulty analysis also throws the stimulus bill onto Bush, even though it was an Obama enterprise from the start.

Don’t believe everything you hear from this president. In fact, don’t believe most of what you hear, especially now that the campaign is in full throttle. Let me be very clear [as Obama often says]: Obama and the Congress have added more than $5 trillion to the budget in less than four years. Bush added $4 trillion in eight years. As unadmirable as Bush’s record may be, it is the epitome of fiscal control when compared to Obama’s.

Every time Obama has sent his version of a budget to the Congress, it has been rejected unanimously—in other words, by both Republicans and Democrats:

Of course, one of the reasons the Democrat leadership has rejected Obama budgets is that it hasn’t been stellar at even considering budgets. The Senate, under Harry Reid’s leadership [?], hasn’t put forward a budget for a vote in over three years, despite a law requiring it.

So much for the concept of the rule of law.

How bad is the current fiscal situation? Here’s one way of understanding it that may bring it closer to home:

Yet what we are told about the deficit doesn’t take into account a deficit that is officially off-budget. We try to pretend it isn’t there, but it’s the biggest fiscal headache of all:

Unless something is done to deal with the root of the problem, we will become a financial basket-case. But every time someone—usually Republican—attempts to offer a plan to deal with it, Republicans are accused of wanting to throw granny off a cliff. That type of political demagoguery is not new, but at the critical juncture at which we now stand, it is particularly irresponsible.

If you’ve been a reader of my blog for some time, you know Mitt Romney was not my preferred candidate, but I now have to hope, work, and pray for his election, if for no other reason than to remove the White House’s current temporary occupant. These last four years have been a disaster in more ways than I can take the time to enumerate today. Maybe someone who understands better how economics works can make a difference.