Black Friday

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While more shoppers than last year – an estimated 134 million up from 128 million people last year – planned to shop Thanksgiving weekend and braved the crowds for store openings as early as midnight, Obama has his own version of Black Friday. He has SHATTERED the budget record for first-year presidents, spending nearly double what Bush did.

In 2001, Bush spent $1.8 trillion, closely matched by Clinton who spent the equivalent of $1.6 trillion in 1993. The last president to spend less than $1 trillion was Ford.

Obama blows them all out of the water with $3.52 trillion in spending, or $1.4 trillion in deficit (ahem – a trillion more than last year) and the budget was $500,000,000 more than last year’s. It’s also over 1/5 of the total spent during Clinton’s 8 years and close to that for Bush’s 8 years.

Ka-ching ka-ching. I guess he can just go print more

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6 Responses to “Black Friday”

  1. Ronald D. Hunt Says:

    In 2001 Bush had the benefit of receiving a budget surplus from the Democrat during a period of good economic conditions with no wars going on, and very little opposition from the opposing party for most of his policy’s.

    in 2009 Obama had the benefit of receiving a budget written by economic madmen with around an Trillion dollar deficit, with another 600 to 800 Billion deficit hidden inside appropriation bills outside of the normal budget process. A ravaged Federal reserve bank, A ravaged FDIC, A federal regulatory structure that had destroyed many of the better correction methods to fix problems, Federal tax receipts in the toilet, 2 wars, And an opposition party that is more then happy to destroy the country if it means they can retake power, they have fought him tooth and nail on everything causing massive delays to everything that he is trying to do to fix their past mistakes.

  2. hollyonthehill Says:

    So just wondering – when does Obama get to start taking responsibility rather than blaming Bush? Nancy Pelosi just said – and I quote – “The American people have an anger about the growth of the deficit because they’re not getting anything for it.” That, in her mind, is reason enough for a second “stimulus” package. I mean really. Even SHE is admitting that the stimulus has done nothing – but thinks the out-of-control spending should continue. Good grief.

  3. Ronald D. Hunt Says:

    Their are things we can blame on Obama, The ARRA’s 800 or so Billion is Obama’s spending I would Argu good spending but I suppose that is in the eye of the beholder. Now I suppose that the effectiveness of the stimulus can be argu’ed as well. A good chuck of the ARRA was supposed to helpout education but the States played that money very effectively, many states including Utah cut their education budget by the amount the stimulus gave or more in the case of Utah and 11 other states so that warped the “jobs” number that they can report from the stimulus funds.

    So rather then throwing out the Mega sized number that the total budget is lets figure out what spending we can blame on Obama. Theirs 800 Billion from the ARRA, he spent about 150 Billion from TARP. Given we only half of the ARRA is spent so far and TARP feel free to blame him for $550 Billion of stimulus spending so far.

    Now I won’t beat him up to much over the wider budget until a few years have passed under his administration, We can’t expect him to balance the budget over night. Bush’s deficit funded tax cuts end in 2011 that will help a lot, finishing with Iraq will help but Afghanistan might eat the difference for a while yet.

    The Democrats we currently talking about 2 major tax you might want to be aware of, Their is the Derivative trade tax of 0.025% on trades larger then $100,000 intended to pay for the bailouts(generates $150-$200 billion per year), and their talking about a war surtax on income(0.5 to 2 percent on income over $1 million I hear).

    I will state 3 things on this, one being that the Republicans are forcing the democrats to pay for republican spending, and two why didn’t the Republicans pay for their own dang spending, and three minus ARRA the new spending(health care) proposed by the democrats is funded and payed for.

    Ohh I would also like to thank Republicans for the $300-$900 Billion in yearly interest payments they have stuck Obama with, That’s taking a good chunk of the budget.

  4. JBT Says:

    Thousands of people have been given jobs or have not had to be laid off due to the recovery spending. In addition many much needed projects fixing and rebuilding the nation’s infrastructure have begun that will have long term benefits to our country. A much more severe economic recession would have taken place had the government not acted quickly and in the manner they did.

    I find it interesting that the Republican right did not whine when Bush spent hundreds of billions of dollars in Iraq rebuilding their schools, hospitals, roads, and bridges after the “shock and awe” bombing attack that decimated their cities. Yet they wring their hands when the same federal dollars go to the same projects in the United States that benefit America’s citizens.

  5. Ronald D. Hunt Says:

    Bush’s Bank welfare program cost $7 to $20 Trillion, it was hidden from public and congressional scrutiny through the Fed and the FDIC. And although I believe this spending was necessary the lessor of 2 evils as it where, the fact that Bush went out of his way to hide the cost has prevented the public at large from knowing the true extent of the failure caused by the Republican regulation witch hunt that has been going on over the last 30 years.

    Thank heavens Bush was prevented from “reforming” social security, I can only imagine where our economy would be if the elderly of the nation had to reenter the work force(or go homeless) in mass due to losing their entire retirement in the wall street casino in 2007/2008 instead of just their 401k.

  6. Me Says:

    Sorry. Not going to read all the other comments, though I’m sure they’re wonderful. Just had to note here, Holly, that these numbers you’re throwing around are making me physically ill. Do people understand just how much money $TRILLION is? Wow. This spending is such an act of treason I can hardly stand it.

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