Posted by
Billy on Wednesday, November 25, 2009 12:27:59 PM
The federal government spent $3.5 trillion during President Obama's first year
in office. This far exceeds the spending for any other first-year president.
President Obama has shattered the budget record for first-year presidents --
spending nearly double what his predecessor did when he came into office and far
exceeding the first-year tabs for any other U.S. president in history.
In fiscal 2009 the federal government spent $3.52 trillion -- $2.8 trillion
in 2000 dollars, which sets a benchmark for comparison. That fiscal year covered
the last three-and-a-half months of George W. Bush's term and the first
eight-and-a-half months of Obama's.
That price tag came with a $1.4 trillion deficit, nearly $1 trillion more
than last year. The overall budget was about a half-trillion more than Bush's
for 2008, his final full fiscal year in office.
Click here to read FOXBusiness.com's Elizabeth MacDonald describe
what the interest on the debt can buy.
(President Obama even in these hard times is showing us he is a tax and spend liberal. While the rest of us has to cut back Uncle Sam under the leadership of Obama is spending in record numbers. Those of you who voted for Obama how do you like this change and how does your check book like it? Read more of the above story Obama
Shatters Spending Record for First-Year Presidents.)
