General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCHART: Spending, Taxes, And Deficits Are All Lower Today Than When Obama Took Office
Federal spending is lower now than it was when President Obama took office. Ill pause to let you absorb the news.
In January 2009, before President Obama had even taken the oath of office, annual spending was set to total 24.9 percent of gross domestic product. Total spending this year, fiscal year 2012, is expected to top out at 23.4 percent of GDP.
Heres another interesting fact. Taxes today are lower than they were on inauguration day 2009. Back in January 2009, the CBO projected that total federal tax revenue that year would amount to 16.5 percent of GDP. This year? 15.8 percent.
One last nugget. The deficit this year is going to be lower than what it was on the day President Obama took office. Back then, the CBO said the 2009 deficit would be 8.3 percent of GDP. This years deficit is expected to come in at 7.6 percent.
Read more: http://thinkprogress.org/economy/2012/05/15/484767/obama-budget-chart/
Maraya1969
(22,479 posts)Politicalboi
(15,189 posts)Mitt Rmoney.
I'm just getting prepared when he takes credit again.
bhikkhu
(10,715 posts)but I think I have to make an exception for this article!
nanabugg
(2,198 posts)It's all in the "spin" and the media is controlled by the 1% so they will not even talk about any positive data concerning this administration.
nanabugg
(2,198 posts)MannyGoldstein
(34,589 posts)is still a shuddering catastrophe. Austerity against the 99% ensures destruction of the 99%. And here we are.
Read Krugman for more info.
progressoid
(49,988 posts)It'll turn around any day now.
I think I feel a little recovery trickling down on me right now!
MannyGoldstein
(34,589 posts)Dawson Leery
(19,348 posts)Jamaal510
(10,893 posts)and hang them at every Romney rally.
FogerRox
(13,211 posts)Why cant we look at the actual dollars spent?
Here tax dollars collected
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?DocID=203&Topic2id=20&Topic3id=21