There is a lot of hay over the fact that under Obama, spending has fallen. Except, you’d be wrong. It hasn’t fallen at all. We’re spending more money in the federal government than we ever have.
Let me break it down for you.
Go to the treasury website: http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt.htm
That’s the balance/debt of the government. It’s how much we owe or have on hand. It would be the equivalent of your all your debts. If it’s 0, then you don’t owe anyone anything.
Note that this does NOT take into account money owed to the entitlement programs. No one really knows how much we owe them. It is only how much money we borrowed.
Now, copy and paste that data into your favorite spreadsheet program. It’s not formatted particularly well, but that’s ok. It’s not rocket science to fix the numbers.
Add a column to the right that simply subtracts the previous number from the next number. That’s the surplus/deficit. It’s how much more we bring in than we spend. Notice that there is NO surplus in the 90’s. The last surplus was in the late 50’s, and then the 20’s. (Quiz: Who was president then?)
Now that we have the deficit, we can measure how much the deficit changed. If the deficit is reducing, thent that means we are slowing our borrowing, even though we are likely to still be borrowing. You’ll not that what Obama claims to have achieved is not remarkable. No president has ever increased deficit spending faster than him. On the other hand, several times President Bush achieved a slowing of the deficit.
President Obama has NOT reduced the size of government debt. He just slowed the pace of how fast the debt is growing.