Source:Ethics & Public Policy Center– Commentary Magazine columnist Peter Wehner.
“The most recent budget submitted by President Obama continues his amazing streak. Courtesy of the Wall Street Journal, here is some of the data: Four years of spending of more than 24 percent of GDP, which translates into the four highest spending years since before the mid-point of the last century. A record four years of trillion-dollar plus deficits ($1.327 this year, an increase from last year). Revenues at historic lows because of an anemic recovery, including four years in a row when revenues won’t reach 16 percent of GDP. A record of more than $5 trillion in debt in a single presidential term. (During George W. Bush’s two terms, total deficit spending was $3.4 trillion.)
Jeffrey Anderson of the Weekly Standard points out that prior to Obama, our annual deficit spending had only exceeded 6 percent of GDP during the Civil War, World War I, and World War II. But during Obama’s four years in the White House, annual deficit spending will average 8.4 percent of GDP (the figure is higher – 9.1 percent – if you count 2009, which some argue you should because Obama’s $800 billion stimulus passed in February).”
From Commentary Magazine
I’m never surprised when I see an article from Commentary or some of neoconservative publication that has targeted facts without the whole story.
President Barack Obama inherited the Great Recession when he took office in 2009. This was the worst economic disaster and decline that any President of the United States inherited since President Franklin D. Roosevelt inherited the Great Depression in 1933.
You don’t recover from an economic collapse like that in 3 years and not especially overnight. We were still trying to recover from the Great Depression not just in 1937 which was the start of FDR’s 2nd term as President, but in 1941 at the start of FDR’s 3rd term as President.
Of course government revenue is going to be down when you are in an economic crisis like the Great Recession of 2008-09 and it’s going to take you a while to recover from that and the government is going to be spending more money even without the revenue to pay for it, because more people are going to be unemployed and collecting Unemployment Insurance and other government benefits. You are not going to find an economic crisis in American history that didn’t have high debt and deficits.
About Rik Schneider
Blogger/writer on a lot of different subjects.
The Free State 
Commentary Magazine: Peter Wehner: ‘Barack Obama’s Theory of Government’
Source:Ethics & Public Policy Center– Commentary Magazine columnist Peter Wehner.
“The most recent budget submitted by President Obama continues his amazing streak. Courtesy of the Wall Street Journal, here is some of the data: Four years of spending of more than 24 percent of GDP, which translates into the four highest spending years since before the mid-point of the last century. A record four years of trillion-dollar plus deficits ($1.327 this year, an increase from last year). Revenues at historic lows because of an anemic recovery, including four years in a row when revenues won’t reach 16 percent of GDP. A record of more than $5 trillion in debt in a single presidential term. (During George W. Bush’s two terms, total deficit spending was $3.4 trillion.)
Jeffrey Anderson of the Weekly Standard points out that prior to Obama, our annual deficit spending had only exceeded 6 percent of GDP during the Civil War, World War I, and World War II. But during Obama’s four years in the White House, annual deficit spending will average 8.4 percent of GDP (the figure is higher – 9.1 percent – if you count 2009, which some argue you should because Obama’s $800 billion stimulus passed in February).”
From Commentary Magazine
I’m never surprised when I see an article from Commentary or some of neoconservative publication that has targeted facts without the whole story.
President Barack Obama inherited the Great Recession when he took office in 2009. This was the worst economic disaster and decline that any President of the United States inherited since President Franklin D. Roosevelt inherited the Great Depression in 1933.
You don’t recover from an economic collapse like that in 3 years and not especially overnight. We were still trying to recover from the Great Depression not just in 1937 which was the start of FDR’s 2nd term as President, but in 1941 at the start of FDR’s 3rd term as President.
Of course government revenue is going to be down when you are in an economic crisis like the Great Recession of 2008-09 and it’s going to take you a while to recover from that and the government is going to be spending more money even without the revenue to pay for it, because more people are going to be unemployed and collecting Unemployment Insurance and other government benefits. You are not going to find an economic crisis in American history that didn’t have high debt and deficits.
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About Rik Schneider
Blogger/writer on a lot of different subjects.