Counter to the conservative story line that President Obama is spending more than anyone, the Wall Street Journal recently published a column that debunks that entire talking point.
Obama is slowing the growth in spending better than any other President in 60 years! The growth in the federal budget has grown 1.4% in President Obama’s first term.
The conservatives love to point to Reagan for fiscal responsibility, but as outlined on the chart, Reagan's growth in Federal spending was over 8% in the first four years and an average of 6.8% his entire Presidency.
Before Clinton was met with the Republican revolution, spending was already low, at about 3.2% but increased under the Republican revolution of 98-01 to 3.9%. President Bush took the same unfortunate route as Reagan, and spent like crazy at an average of 7.7% increase in federal spending!
For Obama's first budget in fiscal year 2010, growth fell 1.8%. If President Obama wasn’t facing the Bush era financial collapse, the outcome would be even better.
These historical statistics prove that President Obama is not a spending obsessed socialist, and contrary to what conservatives would like everyone to believe, he is hugely responsible. A drop in growth of 1.8% in 2010 during the height of a crisis is extremely significant.
Barack Obama is a very tight walleted leader and yes, many times more fiscally responsible than any other president since the 1950s. Well done Mr. President.
