Republicans Caught In Another Lie.
As would-be president Mitt Romney tells it: “I will lead us out of this debt and spending inferno.” Almost everyone believes that Obama has presided over a massive increase in federal spending, an “inferno” But it didn’t happen. Under Obama, federal spending is rising at the slowest pace since Dwight Eisenhower. Here are the facts, • In fiscal 2010 — the first budget under Obama — spending fell 1.8% to $3.46 trillion. • In fiscal 2011, spending rose 4.3% to $3.60 trillion. • In fiscal 2012, spending is set to rise 0.7% to $3.63 trillion, according to the Congressional Budget Office’s estimate of the budget that was agreed to last August. • Finally in fiscal 2013 — the final budget of Obama’s term — spending is scheduled to fall 1.3% to $3.58 trillion. Read the CBO’s latest budget outlook. Over Obama’s four budget years, federal spending is on track to rise from $3.52 trillion to $3.58 trillion, an annualized increase of just 0.4%. More crow to be eaten by the Republican propagan
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