President Obama is the worst President we’ve had when it comes to the economics of our federal budget.
From an executive perspective he hasn’t even tried to get a budget passed in 7 years. His federal spending has been all Continuing Resolutions and Omnibus bills. The national debt on his watch has gone from $10 Trillion to around $20 Trillion by the time he leaves office.
All this new debt will ruin us financially as a nation, but he doesn’t care. Yep, he had help from a GOP controlled Congress over the years along with Democrats when they held power in the same houses. He bet that the politicians would cave and not have the balls to challenge him with shutdowns. He was right. Add in the media and pundits who write how glorious it is to pile on the debt because some how it’s manageable from a “just pay the interest on debt” thesis. His most effective method was not even debating the federal budget on spending or even compromise with both Houses. Implementing that method kept the budget out of the spotlight.
Now back to reality, Jeff Maclellan from the Columbia Tribune had a write up showing the federal budget numbers exploding during President Obama’s term:
I started by looking at data from 2008, the last year of the previous administration. The national budget that y ear showed revenues of $2.52 trillion and expenses of $2.98 trillion, resulting in a deficit of about $459 billion.This past year, the government generated $3.25 trillion in revenue and had total expenses of $3.69 trillion, leading to a deficit of about $438 billion.
When you look at the individual rubrics and the growth of expenditures since 2008, health care has increased about $382 billion, Social Security payments have risen about $346 billion
Those two have accounted for nearly $750 billion in increases over the past 8 years, making them the biggest culprits by far in our current budget situation.
I highly recommend reading the article. He throws out some good numbers that are hardly talked about in political discussions or the media.