Comments on Rex Nutting’s MarketWatch Post

This Post was originally intended to be for my record only, and was marked “private”, but I’m glad that I kept it and I’m now going to release it publicly… it records comments that I made to Rex Nutting’s MarketWatch post… comments that have now been deleted by Rex and/or someone with that ability at MarketWatch. The fix is in. Those who can’t handle the truth, try to silence those who speak it.

The body of the post below is from my cutting and pasting comments into MS Word, and then here, so you’ll see sequential numbering in the order I captured the commnents (which was not always the order they appeared in Rex’s post). It may be challenging to read in this format, but you can also jumpt to the comments section below, where some of my more recent comments were captured. You’ll find that all of these comments have been deleted from Rex’s post…

Scrub a dub dub, Rex, scrub a dub dub!

Orwellian to say the least…


Rex Nutting
Obama spending binge never happened
Commentary: Government outlays rising at slowest pace since 1950s

http://articles.marketwatch.com/2012-05-22/commentary/31802270_1_spending-federal-budget-drunken-sailor  That link doesn’t seem to allow comments?  but the following link does:

http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7243118

1)      Rex Nutting,
It is highly dishonest of you to imply that President Bush was to blame for FY 2009 and that FY 2010 was “the first budget under Obama”. Who signed the Omnibus Appropriations Act for FY 2009? It was Obama, on March 11, 2009.

And oh, by the way, check the facts of the total debt outstanding at the end of each Fiscal Year. http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm
The Democrats, who controlled 59% of the House, 59% of the Senate, and the Presidency, passed and signed the Omnibus Appropriations Act for 2009, and added a record $1.885 TRILLION to the national debt in a single year.

Compare that to the last year when Republicans controlled the … House, Senate, and Presidency: FY 2007, which added $501 Billion ($0.501 Trillion) to the national debt.

Democrats in FY 2009 added more than 3.5 times the amount of debt that Republicans did in FY 2007. And that’s a fact, Jack.

2)      Budget/spending bills must be passed by the House and Senate, and signed by the President. At any point in time, one political party controls a majority (2+ out of 3) of those. When did the balance of power shift from Republican to Democrat? The answer is not January 2009. The answer is January 2007, when Democrats took majority control of the House and Senate, and therefore majority control of budgeting and spending.

When one looks at the graph in Rex Nutting’s post above, the red coloring should be assigned to the majority party, not just the President. The spending shown for ’02 to ’07 should remain red for Republican control, but the spending from ’08 to ’13 should be blue for Democrat. Has spending increased … significantly under the Democratic majority? Absolutely!

3)      this is what Pelosi, Reid, Obama, Biden, Hillary Clinton, and the rest of the Democrats “inherited” when the balance of power switched from Republican to Democrat in Janaury 2007:

1) A FY 2007 deficit of $501 Billion.

2) Total National Debt under $8.7 Trillion.

3) Unemployment 4.4%

4) “Discouraged Workers” (not counted in the unemployment number): 274,000.

5) Employment-population ratio (for those age 16 years and over): 63.4%

6) The Zillow U.S. Home Value Index was over $190,000.

4)      What do we have now, after less than five and 1/2 years of majority Democrat control?

1) An actual first-half FY 2012 deficit of $791.7 Billion, and a projected full-year FY 2012 deficit of $1,583 Billion ($1.583 Trillion).

2) Current Total National Debt over $15.7 Trillion

http://www.treasurydirect.gov/NP/BPDLogin?application=np.

3) Unemployment 8.1%

http://data.bls.gov/timeseries/LNS14000000

4) “Discouraged Workers” (not counted in the unemployment number): 968,000

http://data.bls.gov/timeseries/LNU05026645

5) Employment-population ratio (for those age 16 years and over): 58.4%

http://data.bls.gov/timeseries/LNS12300000

6) The … Zillow U.S. Home Value Index is under $150,000

5)      Who wanted to reform Fannie and Freddie to keep that House of Cards from collapsing?

Republicans.

And who insisted that there were not any “safety and soundness issues” with Fannie and Freddie?

Democrats.

The C-SPAN footage of their actual statements does not lie:

6)      For me, the bottom line number is the total national debt at the end of the fiscal year. Forget all the Washington, D.C. gimmicks and look at that number:

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

A Republican majority is responsible for the additional debt accumulated in FY 2002 – 2007, and added a total of $3.2 Trillion to the national debt over those 6 years, for an average of $533 Billion ($0.533 Trillion) per year. The last of those years, 2007, added only $501 Billion ($0.501 Trillion) to the debt.

A Democrat majority passed the FY 2008 budget, which should have been vetoed by President Bush, added $1.017 Trillion to the debt. The Democrats DOUBLED the previous … year’s deficit. But blamed Bush. Of course

From FY 2009 – 2011, Democrats added $4.766 Trillion to the national debt. An average of $1.589 Trillion per year, or almost TRIPLE the deficit spending rate of the Republicans from FY 2002 – 2007.

And that’s a fact, Jack.

7)      http://data.bls.gov/timeseries/LNS12300000

The Bush Tax Cuts INCREASED revenues, by increasing the employment-population ratio, and therefore raising the revenues received from payroll taxes.

Bush “inherited” the double whammy of the Dot Com bust and the 9/11 attacks. The first part of the Bush Tax Cuts passed in 2001, and the second part of the Bush Tax Cuts passed in 2003. Look at what happened to the employment-population ratio as a result, and also pay attention to what happened to the employment-population ratio after the Democrats took majority control of the House and Senate, and therefore majority control of the budgeting and spending process, in January 2007. Which party was in control of the … wheel when the economy went into the ditch? And has there been any “recovery”?

http://data.bls.gov/timeseries/LNS12300000

8)      The 2009 spending is not “Bush’s budget”. It was passed by Democrats, from start to finish.

Democrats controlled 59% of the House, 59% of the Senate, and the Presidency when the Omnibus Appropriations Act for FY 2009 was signed by Obama on March 11, 2009.

Anyone who blames Bush for FY 2009 is being dishonest.

9)      Obama specifically asked Bush to request the second half of the TARP money…
——————
“I felt that it would be irresponsible for me, with the first $350 billion already spent, to enter into the administration without any potential ammunition should there be some sort of emergency or weakening of the financial system.”

- Barack Hussein Obama II
January 13, 2009
U.S. Seeks Rest of Bailout Cash

http://online.wsj.com/article/SB123177778175873781.html

——————
So, Bush got all of the blame, but Obama got more than half the money.

Oh, and “wildervb” above … he thinks that “Bush still has to sign the Bill so he shares in the … responsibility” even though I made it perfectly clear that the bill was signed on March 11, 2009 by OBAMA. Bush wasn’t even President anymore, and some people like “wildervb” and Rex Nutting who authored this post, want to blame Bush for stuff that Obama signed!

10)  “I felt that it would be irresponsible for me, with the first $350 billion already spent, to enter into the administration without any potential ammunition should there be some sort of emergency or weakening of the financial system.”

- Barack Hussein Obama II
January 13, 2009
U.S. Seeks Rest of Bailout Cash

http://online.wsj.com/article/SB123177778175873781.html

11)   Stop looking exclusively to the Presidency when evaluating economic data. Look at which party controlled a majority (2+ out of 3) of the House, Senate, and Presidency.

The balance of power shifted from Republican to Democrat on January 3, 2007.

The employment to population ratio at that time was 63.4%

http://data.bls.gov/timeseries/LNS12300000

Under majority Democrat control, the economy went into the ditch and has stayed there. The employment to population ratio fell to 58.7% in September 2009, and it has not been above that level since. We are currently at 58.4%. We are five full percentage points lower than where we were under Bush and the Republican majority.

If the total population age 16 and over is approximately 250 Million, then each percentage point is 2.5 Million people.

So, just to get back to where things were under Bush and the Republicans, Obama and the Democrat majority would have to create 12.5 MILLION jobs. Just to break even.

12)   Exactly. And Democrats knew that voters were concerned about the levels of deficit spending six years ago… so they made promises of fiscal discipline that helped them win control of the House and Senate in the 2006 elections and the Presidency in 2008.

What were those promises? And did the Democrats keep those promises? Let’s take a look in my next few comments…

13)   “After years of historic deficits, this 110th Congress will commit itself to a higher standard: pay-as-you-go, no new deficit spending. Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt. “

- New Speaker Nancy Pelosi, 01/04/2007

14)   On the day she said that, 1/4/2007,
the Total Public Debt Outstanding was $8,670,596,242,973.04

On the day Pelosi left the Speakership, 1/03/2011,
the Total Public Debt Outstanding was $13,997,932,781,828.89

(Source http://www.treasurydirect.gov/NP/BPDLogin?application=np )

Pelosi promised “no new deficit spending” and “unlimited opportunity for future generations, not burden them with mountains of debt”.

Pelosi added more to the total national debt than any other Speaker in history.

She oversaw the growth of the national debt from $8.7 Trillion to $14 Trillion, an increase of $5.3 Trillion.

And with Democrats in control of the Presidency and … Senate, the national debt is now $15.7 Trillion, an increase of $7 TRILLION since they took majority control less than five and a half years ago. Every Republican deficit under Bush was UNDER $600 Billion ($0.6 Trillion). EVERY Democrat deficit under Bush and Obama has been OVER $1 Trillion

15)   “The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic. “

- Barack Obama
July 3, 2008

16)   Rex Nutting said: “What people forget (or never knew) is that the first year of every presidential term starts with a budget approved by the previous administration and Congress. The president only begins to shape the budget in his second year. It takes time to develop a budget and steer it through Congress — especially in these days of congressional gridlock.”

That is NORMALLY true, but was not true in FY 2009. The Democrats who controlled both Houses of Congress refused to vote on Bush’s budget and instead passed “continuing resolutions” until Obama was sworn in. Then they moved a 100% Democrat Omnibus Spending Act through the Democrat controlled House, the Democrat controlled Senate, and it was … signed by President Obama on March 11, 2009.

It is absolutely deceptive in the highest degree to blame FY 2009 on George Bush, who was long gone from office when that budget/spending bill was passed.

17)   “those wonderful Tax Cuts” increased revenues by increasing employment. Unemployment was 4.4% in December 2006. Then the balance of power shifted in January 2007 from Republican to Democrat. The last budget passed by a Republican House, Republican Senate, and Republican President, was for FY 2007. Compare FY 2009, when the Omnibus Appropriations Act for FY 2009 was passed by a Democrat House, Democrat Senate, and Democrat President.

What was different between FY 2009 and FY 2007?
The answer is which party had exclusive control.

Compare FY 2009 to FY 2007 and tell me what you see in the numbers, in terms of:
revenues,
spending,
projected deficits
real increases to … the national debt,
unemployment,
the employment-population ratio, and
discouraged workers (not included in the unemployment numbers)

18)   Again, that is NORMALLY true, but was not true in FY 2009. The Democrats who controlled both Houses of Congress refused to vote on Bush’s budget and instead passed “continuing resolutions” until Obama was sworn in. Then they moved a 100% Democrat Omnibus Spending Act through the Democrat controlled House, the Democrat controlled Senate, and it was signed by President Obama on March 11, 2009.

It is absolutely deceptive in the highest degree to blame FY 2009 on George Bush, who was long gone from office when that budget/spending bill was passed.

The Democrats jacked spending and deficits to record levels, blamed it on Bush, and then pretended that that was the new baseline from which they could claim … only 1.4% growth.

19)   “Obama came in with a budget in place”

That is a flat out lie.

20)   Nope, Rex is the liar, not me.

Rex blames the FY 2009 spending on Bush.

Now, tell me: True or False: “Bush signed the Omnibus Appropriations Act for FY 2009″.

Rex wants you to think that is true, but it’s false.

Tell me:
1) Which party controlled the House when the Omnibus Appropriations Act for FY 2009 was passed?
2) Which party controlled the Senate when the Omnibus Appropriations Act for FY 2009 was passed?
3) Which President DID sign the Omnibus Appropriations Act for FY 2009?

And, after answering those questions, tell me if an honest person would attribute to Bush the spending that was done under the Omnibus Appropriations Act for FY 2009.

21)   Do tell, what is “mostly correct” about claiming that Bush was responsible for FY 2009 spending that was done under the Omnibus Appropriations Act for FY 2009 that was:

1) Passed by a 59% Democratic House
2) Passed by a 59% Democratic Senate, and
3) Signed by Obama, not Bush?

How is that “mostly correct”.

Nutting’s entire premise is based on blaming Bush for FY 2009 and then using that as a baseline to say that Obama didn’t make it much worse.

Blaming Bush for FY 2009 is dishonest.

You can blame Bush and the Republicans for FY 2007.
You can blame Bush for not vetoing the Democrat spending of FY 2008.
But you can’t honestly blame … Bush for FY 2009…
That has Obama and the Democrats fingers all over it.

22)   And remember that Obama specifically asked Bush to request the second half of the money, just before the transition. So Bush got all of the blame, but Obama got half the money…

“I felt that it would be irresponsible for me, with the first $350 billion already spent, to enter into the administration without any potential ammunition should there be some sort of emergency or weakening of the financial system.”

- Barack Hussein Obama II
January 13, 2009
U.S. Seeks Rest of Bailout Cash

http://online.wsj.com/article/SB123177778175873781.html

23)   I don’t think the following can be emphasized enough…
Rex Nutting’s entire post hinges on the premise that FY 2009 spending is something that Obama inherited from Bush, and that FY 2009 spending becomes the benchline to which later spending should be compared.

Rex wants you to believe that FY 2009 spending was already in place when Obama became President. That is is not true.

When the Omnibus Appropriations Act for FY 2009 was passed:

1) Which party controlled the House?
2) Which party controlled the Senate?
3) Which President signed the Omnibus Appropriations Act for FY 2009?

And, after answering those questions, tell me if an honest person would attribute to … Bush the spending that was done under the Omnibus Appropriations Act for FY 2009.

I say that if an honest person wants to compare spending between complete Democrat control and complete Republican control, they will compare FY 2009 (complete D control) to FY 2007 (complete R control).

24)   Both parties must stop the deficit spending. Bush and the Republicans created average deficits of $533 Billion a year, while Obama and the Democrats have more than doubled, sometimes more than tripled, those deficits.

Democrats knew in 2006 that “fiscal discipline” was important to voters.

Democrats PROMISED “no new deficit spending”.

They LIED.

25)   What Nancy Pelosi and the Democrats promised in 2006 in order to win the 2006 elections and control of Congress:

Over the past decade, the Republican controlled Congress took our nation in the wrong direction. Too many Americans are paying a heavy price for those wrong choices: record costs for energy, health care and education; jobs shipped overseas; and budgets that heap record debt on our children. For millions, the middle-class dream has been replaced by a middle-class squeeze…

Democrats are proposing a New Direction for America…

With integrity, civility and fiscal discipline, our New Direction for America will use commonsense principles to address the aspirations and fulfill the hopes … and dreams of all Americans. That is our promise to the American people…

26)   What Nancy Pelosi and the Democrats promised in 2006 in order to win the 2006 elections and control of Congress (continued):

Our federal budget should be a statement of our national values. One of those values is responsibility. Democrats are committed to ending years of irresponsible budget policies that have produced historic deficits. Instead of piling trillions of dollars of debt onto our children and grandchildren, we will restore “Pay As You Go” budget discipline.

27)   What Nancy Pelosi and the Democrats promised in 2006 (continued):

Budget discipline has been abandoned by the Bush Administration and its Republican congressional majorities. Congress under Republican control has turned a projected $5.6 trillion 10-year surplus at the end of the Clinton years into a nearly $3 trillion deficit– including the four worst deficits in the history of America. The nation’s debt ceiling has been raised four times in just five years to more than $8.9 trillion. Nearly half of our nation’s record debt is owned by foreign countries including China and Japan. Without a return to fiscal discipline, the foreign countries that make our computers, our clothing and our toys will soon be making our foreign … policy. Deficit spending is not just a fiscal problem – it’s a national security issue as well.

Our New Direction is committed to “Pay As You Go” budgeting – no more deficit spending.

http://www.webcitation.org/5ts8Q5znY

28)   What Nancy Pelosi and the Democrats promised in 2006 in order to win the 2006 elections and control of Congress (continued):

Read it all here: http://www.webcitation.org/5ts8Q5znY

29)   “After years of historic deficits, this 110th Congress will commit itself to a higher standard: pay-as-you-go, no new deficit spending. Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt. “

- New Speaker Nancy Pelosi, 01/04/2007

Pelosi went on to burden future generations with mountains of debt…
$5.3 Trillion in new debt in just 4 years with Pelosi as Speaker of the House.

30)   Correcting the media on Obama’s spending record… again
posted at 10:03 pm on May 23, 2012 by Dustin Siggins

http://hotair.com/archives/2012/05/23/correcting-obamas-spending-record-again/

31)   Oh, and the spending increases in FY 2006, 2007, and 2008… Obama was a Senator then… and in the majority party that passed the FY 2008 budget/spending.

Rex acts like Obama had nothing to do with any of those or FY 2009, when the truth is that Obama was very much a part of the Senate then, and even signed the 2009 Omnibus spending act himself as President.

But blaming it all on “Boooooosh” is the Demonrat way….

32)   That premise relies on blaming Bush for FY 2008 and FY 2009.

Bush should have vetoed what the Democratic House and Democratic Senate sent him in FY 2008. He didn’t, so you can blame him for signing it, but it originated from Pelosi and Reid.

And it is utterly dishonest to blame Bush for FY 2009 when the Omnibus Appropriations Act for FY 2009 was passed by a Pelosi-led House, Reid-led Senate, and SIGNED BY OBAMA on MARCH 11, 2009.

You can’t blame FY 2009 on Bush. Yet you and Rex Nutting dishonestly do.

FY 2008 and FY 2009 belong to the DEMOCRATS.

If you want to compare Democrats to Republicans, compare FY 2009 (passed by Democrats and signed by Obama) to FY 2007 (passed … by Republicans and signed by Bush).

33)   Indeed, and Obama specifically asked Bush to request the second half of the money. Bush got the blame, Obama got the money.

34)   ErikB,
Your premise relies on blaming Bush for FY 2009.

You agree with Rex Nutting’s false claim that, “The major spending decisions in the 2009 fiscal year were made by George W. Bush and the previous Congress.”

Who passed and signed the Omnibus Appropriations Act for FY 2009?
The answer is:
Pelosi-led House
Reid-led Senate
Barack Obama as President

You can’t honestly blame that on Bush. But Rex Nutting is not an honest person, and you believe his chart that blames FY 2009 on Bush.

35)   An analogy…

If you have ever flown out of John Wayne Airport in southern California, you’ve experienced this:

“The short primary runway (19R/1L), coupled with the local noise restrictions, can require a takeoff at or near full power (95-97% power). Some aircraft departing from the airport may cycle to full power while holding at the runway then release the brakes when engines are fully spooled up. On operations from runway 19R a steep climb may also be required to allow for a power reduction at about 500–700 feet for a quieter overflight over the city of Newport Beach.”

http://en.wikipedia.org/wiki/John_Wayne_Airport#Aircraft_noise_abatement_and_curfew

That’s what Pelosi, … Reid, Obama, Biden, Clinton, and the rest of the Democrats who flipped majority control from Republican to Democrat in January 2007 did…

They revved up spending to full throttle in FY 2008 and FY 2009, and then leveled off and coasted the last three years without passing a budget. And they blame Bush.

36)   Jerabaub,
You “Pretty much agree with Nutting here”, so you agree with his statement under the graph that “The big surge in federal spending happened in fiscal 2009, before Obama took office.”

Obama took office January 20, 2009.

Please tell me who signed the Omnibus Appropriations Act for FY 2009 on March 11, 2009.

And then tell me how that is Bush’s fault.

37)   “The Democrats did have majorities in both houses but were well short of 60 votes in the Senate, so Republicans had the ability to block anything they wanted”

Wrong.

Budgets don’t require 60 votes. They can’t be filibustered. They only require a simple majority, which the Democrats have had in the Senate since January 2007 under Harry Reid, and had for four years (January 2007 – January 2011) under Nancy Pelosi.

Bush should have vetoed the FY 2008 spending. He didn’t, so you can blame him for that, as long as you also blame Reid and Pelosi for their role.

You can’t blame Bush for FY 2009, however. That was signed by Obama.

38)   Wrong. See budget reconciliation only requires a simple majority, which the Democrats had for FY 2008, FY 2009, FY 2010…

39)   Correcting the media on Obama’s spending record… again

http://hotair.com/archives/2012/05/23/correcting-obamas-spending-record-again/

40)   “But for those who say Obama is fudging the numbers”

We’re not saying the Federal Spending numbers in the graph are fudged.

We are saying that coloring FY 2009 for Bush and claiming “fiscal 2010 — the first budget under Obama” is fudged.

Tell me, who signed the Omnibus Appropriations Act for FY 2009 on March 11, 2009?

Tell me, is it honest to blame FY 2009 spending on Bush?

41)   I have yet to see a left-leaning commenter answer these questions:

Who signed the Omnibus Appropriations Act for FY 2009 on March 11, 2009?

Is it honest to blame FY 2009 Federal Spending on Bush?

42)   Obama: Don’t believe what you hear about me being a big spender

http://hotair.com/headlines/archives/2012/05/24/obama-dont-believe-what-you-hear-about-me-being-a-big-spender/

43)   What would happen if Congress had to apply the regulations in Sarbanes-Oxley, Dodd-Frank, and other corporate accounting law to its own balance sheets? Instead of talking about trillion-dollar deficits, USA Today reports from its analysis, we’d be talking about five times that amount:

The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.

The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. … Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the government’s books.

http://hotair.com/archives/2012/05/24/usa-today-real-fy2012-deficit-is-5-trillion/

44)   Is it a “fact” that Bush is responsible for FY 2009 Federal spending?

That’s what Rex shows in his graph above. But please answer these two questions:

1) Who signed the Omnibus Appropriations Act for FY 2009 on March 11, 2009?

2) Is it honest to blame FY 2009 Federal Spending on Bush?

45)   Rex said:
“Here are the facts, according to the official government statistics:

• In the 2009 fiscal year — the last of George W. Bush’s presidency — federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion. Check the official numbers at the Office of Management and Budget.

http://www.whitehouse.gov/omb/budget/Historicals

There are many links at that page, but the first is:
Table 1.1—Summary of Receipts, Outlays, and Surpluses or Deficits (-): 1789–2017

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls

All budget/spending bills must be passed by the House and Senate, and be signed by the President (unless a veto … is overridden), so let’s agree that it is fair to give “credit”/”blame” to the party which controlled a majority (2+ out of 3) of those three…

Bush and the Republicans held control of all three for FY 2002 – 2007. Democrats have held the majority for FY 2008 – present. Compare the Outlays and Deficits.

46)   Again, all budget/spending bills must be passed by the House and Senate, and be signed by the President (unless a veto is overridden), so let’s agree that it is fair to give “credit”/”blame” to the party which controlled a majority (2+ out of 3) of those three…

Bush and the Republicans held control of all three for FY 2002 – 2007. Democrats have held the majority for FY 2008 – present. Compare the Outlays and Deficits from the Republican majority years to the Democrat majority years.

47)   Please read my comments more carefully.

My comment above in no way tries to explain away the $5 Trillion in new debt since January 2009 or the $7 Trillion in new debt since January 2007.

48)   Average Total Receipts for FY 2002 – 2007, while Republicans held majority control, were $2.11 Trillion per year.

Average Total Receipts for FY 2008 – 2012, while Democrats held majority control, were $2.31 Trillion per year.

It’s not the revenue, stupid, it’s the fact that Democrats have increased the average total outlays by 45%, and increased the average deficit by 315%.

Using the same numbers Nutting is using, deficits have more than quadrupled under Democratic majorities as compared to Republican majorities, from $0.28T to $1.16T.

49)   The spending numbers are facts and figures. The comparison numbers, where Rex Nutting acts like FY 2009 spending belongs to Bush instead of Obama, is downright dishonest. I ask again:

Who signed the Omnibus Appropriations Act for FY 2009 on March 11, 2009?

50)   Republicans held majority control for FY 2002 – 2007
Democrats have held the majority for FY 2008 – present.

Using the same source data that Rex Nutting is using, namely:

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls

For FY 2002 – 2007, while Republicans held majority control, the average Total Receipts were $2.11 Trillion per year, the average Total Outlays were $2.39 Trillion per year, and the average Total Deficit was $0.28 Trillion per year.

For FY 2008 – 2012, while Democrats held majority control, the average Total Receipts were $2.31 Trillion per year, the average Total Outlays were $3.47 Trillion per year, and the average Total Deficit was … $1.16 Trillion per year.

Under the Democrats, Revenues are up 10%, Outlays are up 45%, and deficits are up 315%.

Using the same numbers Nutting is using, deficits have more than quadrupled under Democratic majorities as compared to Republican majorities, from $0.28T to $1.16T.

That’s a fact, Jack.

51)   Average yearly Total Outlays under majority Democrat control FY 2008 – 2012 has increased 45% over the average yearly Total Outlays under majority Republican control FY 2002 – 2007.

Spending has increased 45% under majority Democrat control.

Why can’t the “progressives” UNDERSTAND THAT?

52)   “Blame BUSH!”

That is the left’s reply to everything.

And it is only by blaming FY 2009 spending on Bush, and using that as a baseline, that you can claim “Obama has only increased Fed Spending by 1.4% a year.”

But is it honest to blame Bush for FY 2009?

Who signed the Omnibus Appropriations Act for FY 2009?

53)   The CBO’s numbers are non-partisan.

Using FY 2009 as the baseline against which to compare Obama is dishonest, partisan hackery.

Who signed the Omnibus Appropriations Act for FY 2009 on March 11, 2009?

  1.  MurphysLaw

*ding* *ding*

Red Pill has it right, ErikB. While CBO’s numbers may be accurate, how those numbers have been used in this article has been less than honest.

54)   Rex Nutting says:
“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%.”

Red pill says:
During FY 2002-2007, when Republicans controlled the House, Senate, and Presidency, the average annual Total Outlays were $2.39 Trillion per year. The Democrats took control of the budgeting and spending process when they took control of the House and Senate in January 2007. Democrats have raised spending from where it was under Republican majorities… under $2.4 Trillion per year, to now over $3.5 Trillion per year.

Democrats have increased annual spending by over $1.1 Trillion per year, and Rex Nutting is … trying to tell you that “spending binge never happened”.

Liar.

Democrats, including Obama, have held majority control of the budgeting and spending process since January 2007.

55)   Yes, I am using the TOTAL column (Total = On-Budget +Off-Budget)

Let’s also compare the bottom-line effect to the total national debt.

Average new debt (deficit) FY 2002-2007: $0.533 Trillion per year
New debt (deficit) FY 2008 (Pelosi-Reid-Bush): $1.017 Trillion
Average new debt (deficit) FY 2009-2011 (Pelosi-Reid-Obama): $1.589 Trillion per year

See:

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

and

http://www.treasurydirect.gov/NP/BPDLogin?application=np

56)   Average Total Receipts for FY 2002 – 2007, while Republicans held majority control, were $2.11 Trillion per year.

Average Total Receipts for FY 2008 – 2012, while Democrats held majority control, were $2.31 Trillion per year.

It’s not the revenue, stupid. Average revenues for FY 2008-2012 are $200 Billion higher than average revenues for FY 2002 – 2007.

It’s not the revenue, stupid, it’s the fact that Democrats have increased the average total outlays by 45%, and increased the average deficit by 315%.

Using the same numbers Nutting is using, deficits have more than quadrupled under Democratic majorities as compared to Republican majorities, from $0.28T to $1.16T.

57)   Ah, even a broken clock (ErikB) is right twice a day…

Obama is starting to use this faulty premise that everything up until September 30, 2009 is Bush’s fault and, using that baseline, spending hasn’t increased much since then.

Obama: Don’t believe what you hear about me being a big spender

http://hotair.com/headlines/archives/2012/05/24/obama-dont-believe-what-you-hear-about-me-being-a-big-spender/

Of course, for Obama to act like he wasn’t an active part of what had happened in Washington, D.C. since he came there in January 2005, and became a part of the Democratic Congressional majority in January 2007. Nope… it’s all Bush’s fault. Obama had NOTHING to do with spending from January 3, … 2006 – September 30, 2009!

/sarc

58)   Democrats have increased average annual spending by over $1.1 Trillion per year, and Rex Nutting is trying to tell you that “spending binge never happened”.

59)   Who signed the Omnibus Appropriations Act for FY 2009 on March 11, 2009?

Is it honest to blame FY 2009 Federal Spending on Bush?

60)   I still have yet to see a left-leaning commenter answer these questions:

Who signed the Omnibus Appropriations Act for FY 2009 on March 11, 2009?

Is it honest to blame FY 2009 Federal Spending on Bush?

61)   I already told you that using the CBO’s TOTAL numbers (On-Budget +Off-Budget), when you compare the Republican majority years of FY 2002-2007 to the Democrat majority years of FY 2008-2012, you find that under the Democrats:

Average annual Revenues are up 10% from $2.11 Trillion to $2.31 Trillion per year,
Average annual Outlays are up 45% from $2.39 Trillion to $3.47 Trillion per year, and
Average annual Deficits are up 315% from $0.28 Trillion to $1.16 Trillion per year.

And that’s a fact, Jack.

62)   You are a spammer.  I’ve already addressed that multiple times.  Using the CBO’s TOTAL numbers (On-Budget +Off-Budget), when you compare the Republican majority years of FY 2002-2007 to the Democrat majority years of FY 2008-2012, you find that under the Democrats:

Average annual Revenues are up 10% from $2.11 Trillion to $2.31 Trillion per year,

Average annual Outlays are up 45% from $2.39 Trillion to $3.47 Trillion per year, and

Average annual Deficits are up 315% from $0.28 Trillion to $1.16 Trillion per year.

Democrats raised spending 45% and increased deficits 315%.

And that’s a fact, Jack.

63)   There has not been a TRUE budget surplus (one that actually reduced the total national debt) since FY 1957.

The Republican House and Republican Senate sent appropriations to Clinton for him to sign, and those appropriations only increased the total national debt by $17 Billion in FY 2000, but it was still a deficit, not a surplus.

Still, I’d take the Republican spending signed by Clinton for FY 2000 (which produced a true deficit of $17 Billion) over the Democrat spending signed by Obama for FY 2009 (which  produced a true deficit of $1,885 Billion ($1.885 Trillion)) any day of the week!

See:

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm

and

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

64)   And shut up with your 2 wars and medicare part D off the books B.S.

I’ve already shown you how, using the same numbers Rex Nutting points to, and using the TOTAL (On-Budget +Off-Budget) numbers, when you compare the Republican majority years of FY 2002-2007 to the Democrat majority years of FY 2008-2012, you find that:

Under the Democrats FY 2008-2012:

Average annual Revenues are up 10% from $2.11 Trillion to $2.31 Trillion per year,

Average annual Outlays are up 45% from $2.39 Trillion to $3.47 Trillion per year, and

Average annual Deficits are up 315% from $0.28 Trillion to $1.16 Trillion per year.

Democrats enjoyed 10% higher revenues, yet raised spending 45% and increased deficits 315%.

And that’s a fact, Jack.

65)   hat tip to SteveG45 above…

http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z2.xls

Years where spending (Total Outlays) exceeded 24%..

1942 Total Outlays 24.3% of GDP

1943 Total Outlays 43.6% of GDP

1944 Total Outlays 43.6% of GDP

1945 Total Outlays 41.9% of GDP

1946 Total Outlays 24.8% of GDP

2009 Total Outlays 25.2% of GDP

2010 Total Outlays 24.1% of GDP

2011 Total Outlays 24.1% of GDP

2012 estimate Total Outlays 24.3% of GDP

That’s quite a different story from Rex’s claim that “Of all the falsehoods told about President Barack Obama, the biggest whopper is the one about his reckless spending spree.”

Obama signed the Omnibus Appropriations Act for FY 2009 that was passed by the Pelosi House and the Reid Senate.  You can’t blame that on Bush.  And you can’t blame FY 2010, 2011, and 2012 on Bush.

The spending of Obama and the Democrat majority, as a % of GDP is only outdone by the spending during the World War II timeframe of 1942-1946.

http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245636

66)   x

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132 Responses to Comments on Rex Nutting’s MarketWatch Post

  1. Obama spending binge never happened
    Commentary: Government outlays rising at slowest pace since 1950s

    http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7246791

    Obama Is a Spendthrift— And Here’s the Proof

    http://news.investors.com/article/612620/201205241756/obama-is-a-spendthrift.htm?src=HPLNews

  2. The economy was doing well when Republicans last controlled the House, Senate, and Presidency in December 2006. Democrats took majority control in January 2007, drove the economy in the ditch, and there has been no recovery.

    This government graph tells the story:

    http://data.bls.gov/timeseries/LNS12300000

    http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245140

  3. Here’s what Pelosi, Reid, Obama, Biden, Hillary Clinton, and the rest of the Democrats “inherited” when the balance of power switched from Republican to Democrat in Janaury 2007:

    1) A FY 2007 deficit of $501 Billion.

    2) Total National Debt under $8.7 Trillion.

    3) Unemployment 4.4%

    4) “Discouraged Workers” (not counted in the unemployment number): 274,000.

    5) Employment-population ratio (for those age 16 years and over): 63.4%

    6) The Zillow U.S. Home Value Index was over $190,000.

    http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245345

  4. What do we have now, after less than five and 1/2 years of majority Democrat control?

    1) An actual first-half FY 2012 deficit of $792 Billion, and a projected full-year FY 2012 deficit of $1,584 Billion ($1.584 Trillion).

    2) Current Total National Debt over $15.7 Trillion

    http://www.treasurydirect.gov/NP/BPDLogin?application=np.

    3) Unemployment 8.1%

    http://data.bls.gov/timeseries/LNS14000000

    4) “Discouraged Workers” (not counted in the unemployment number): 968,000

    http://data.bls.gov/timeseries/LNU05026645

    5) Employment-population ratio (for those age 16 years and over): 58.4%

    http://data.bls.gov/timeseries/LNS12300000

    6) The Zillow U.S. Home Value Index is under $150,000

    http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245346

  5. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245388

    You are a spammer, and possibly even a paid spammer.

    I’ve already addressed this multiple times. Democrats raised spending 45% and increased deficits 315%.

    http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls

    Using the CBO’s TOTAL numbers (On-Budget +Off-Budget), when you compare the Republican majority years of FY 2002-2007 to the Democrat majority years of FY 2008-2012, you find that under the Democrats:

    Average annual Revenues are up 10% from $2.11 Trillion to $2.31 Trillion per year,
    Average annual Outlays are up 45% from $2.39 Trillion to $3.47 Trillion per year, and
    Average annual Deficits are up 315% from $0.28 Trillion to $1.16 Trillion per year.

    Democrats raised spending 45% and increased deficits 315%.

    And that’s a fact, Jack.

  6. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245406

    Rex Nutting has been pwned!

    “Congrats, Mr. Nutting. I don’t think you’re a huge jerk, only that you’re hilariously unqualified for your job.”

    http://hotair.com/archives/2012/05/24/how-to-make-obamas-spending-look-small-marketwatch-rebuttal-infographic/

  7. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245469

    There has not been a TRUE budget surplus (one that actually reduced the total national debt) since FY 1957.

    The Republican House and Republican Senate sent appropriations to Clinton for him to sign, and those appropriations only increased the total national debt by $17 Billion in FY 2000, but it was still a deficit, not a surplus.

    Still, I’d take the Republican spending signed by Clinton for FY 2000 (which produced a true deficit of $17 Billion) over the Democrat spending signed by Obama for FY 2009 (which produced a true deficit of $1,885 Billion ($1.885 Trillion)) any day of the week!

    See:

    http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm

    and

    http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

  8. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245504

    Honest observers will use FY 2007 (the last budget passed by a Republican House, Republican Senate, and Republican President) as the baseline.

    From January 4, 2007 to present, Democrats have controlled a majority (2+ out of 3) of the House, Senate, and Presidency.

    FY 2008 to present have all been passed by **Democrat** majorities, of which Obama has consistently been a part… first as Senator in the majority, then as President.

    Obama and the Democrats “inherited” the economy from the Republicans on January 4, 2007. Everything since then has been with the Democrats in the driver’s seat.

    Are you better off now than you were six years ago?

  9. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245485

    Are you paid by the Obama campaign?

    Rex paints FY 2009 red for Bush. Tell me, who signed the Omnibus Appropriations Act for FY 2009 on March 11, 2009?

    Is it honest to blame FY 2009 Federal Spending on Bush?

  10. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245533

    Obama, Biden, and Clinton all voted for TARP.

    Obama specifically asked Bush to request the second half of the money, so that Bush would get all of the blame, but Obama would get to spend the money.

    “I felt that it would be irresponsible for me, with the first $350 billion already spent, to enter into the administration without any potential ammunition should there be some sort of emergency or weakening of the financial system.”

    – Barack Hussein Obama II
    January 13, 2009
    U.S. Seeks Rest of Bailout Cash

    http://online.wsj.com/article/SB123177778175873781.html

  11. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245542

    I’ve already shown you how, using the same numbers Rex Nutting points to, and using the TOTAL (On-Budget +Off-Budget) numbers, when you compare the Republican majority years of FY 2002-2007 to the Democrat majority years of FY 2008-2012, you find that:

    Under the Democrats FY 2008-2012:
    Average annual Revenues are up 10% from $2.11 Trillion to $2.31 Trillion per year,
    Average annual Outlays are up 45% from $2.39 Trillion to $3.47 Trillion per year, and
    Average annual Deficits are up 315% from $0.28 Trillion to $1.16 Trillion per year.

    Democrats enjoyed 10% higher revenues, yet raised spending 45% and increased … deficits 315%.

    And that’s a fact, Jack.

  12. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245549

    And let’s talk about who made TARP necessary…

    Who wanted to reform Fannie and Freddie to keep that House of Cards from collapsing?

    Republicans.

    And who insisted that there were not any “safety and soundness issues” with Fannie and Freddie?

    Democrats.

    The C-SPAN footage of their actual statements does not lie:

  13. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245599

    “If Rex had made any errors in his report he would have responded.”

    LOL! Yeah, right.

    Let’s start wth Rex admitting that he was wrong to paint FY 2009 spending red for Bush.

    Who signed the Omnibus Appropriations Act for FY 2009 on March 11, 2009?
    OBAMA.

    Is it honest to blame FY 2009 Federal Spending on Bush?
    NO.

  14. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245635

    Even if it went to $ 30 trillion it wouldn’t be that big of a deal . 3% for 30 years is as good as it gets.

    No, that’s not as good as it gets. It may have been 55 years ago, but there was a time in this country when government spending was actually lower then revenues, and a true surplus was used to pay down some of the national debt. Old Fashioned, I know, but annual deficits of over $1 Trillion a year are NOT “as good as it gets”.

    ——————–

    Bush could have vetoed the FY 2008 spending, and the initial continuing resolution at the start of FY 2009, but Bush lost the power to veto bills when he left office.

    The main bill that regulated spending for FY 2009 was the Omnibus Appropriations Act for FY 2009 which was passed by the Pelosi House, Reid Senate, and signed by Obama on March 11, 2009. That spending is 100% the Democrats’ doing, and painting FY 2009 red for Bush is utterly dishonest.

    But, “Blame Bush!!!” is the meme of the left, facts be damned!

  15. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245688

    “You honestly think one man can sink or save our nation?”

    No, I don’t. Which is why I don’t give one man (the President) credit or blame for what happens economically. I give credit/blame to the political party that controls a majority (2+ out of 3) of the House, Senate, and Presidency.

    So, here is to whom I give credit/blame:
    FY 2008-2012 Democrat majority
    FY 1996-2007 Republican majority
    FY 1988-1995 Democrat majority
    FY 1982-1987 Republican majority
    FY 1956-1981 Democrat majority
    FY 1954-1955 Republican majority
    FY 1950-1953 Democrat majority
    FY 1948-1949 Republican majority
    FY 1934-1947 Democrat majority

  16. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245732

    1fox,
    You blame Bush for what the Democrats did to the economy.

    Democrats caused the Fannie/Freddie mess and falsely accused Republicansof racism when Republicans tried to reform Fannie/Freddie. Democrats insisted that it was a “political lynching” and that there were no “safety and soundness issues” at Fannie/Freddie.

    TARP is the direct result of what Democracts caused, and Obama, Biden, and Clinton voted for TARP.

    You are blaming 1 man (Bush) for what the Democrat party did to the economy.

    And let’s all remember that the Democrats “inherited” the economy in January 2007, not January 2009 (or October 2009, as Rex wants to claim!)

  17. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245667

    Many of the problems in 3rd world countries are the result of corrupt governments.

    … and we are well on our way there…

  18. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245707

    “After years of historic deficits, this 110th Congress will commit itself to a higher standard: pay-as-you-go, no new deficit spending. Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt.”

    – New Speaker Nancy Pelosi, 01/04/2007

    Pelosi promised “no new deficit spending” and “unlimited opportunity for future generations, not burden them with mountains of debt”.

    Pelosi added more to the total national debt than any other Speaker in history… growing the national debt from $8.7 Trillion to $14 Trillion, an increase of $5.3T.

    And with Democrats in control of the Presidency and Senate, the national debt is now $15.7 Trillion, an increase of $7 TRILLION since they took majority control less than five and a half years ago. Every Republican deficit under Bush was UNDER $600 Billion ($0.6 Trillion). EVERY Democrat deficit under Bush and Obama has been OVER $1 Trillion.

  19. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245736

    Rex will probably be awarded a Pulitzer Prize for this article.

    Heh.

    Why not go for a Nobel Prize? Obama got one. … For “Peace”, while he continued wars in Afghanistan and Iraq, and put troops in combat in a new war in Libya.

  20. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245838

    Fox and Rush and I are speaking the truth.

    Rex Nutting, you, and the Dem0nrats are the ones trying to brainwash half the population with lies.

    If Nancy Pelosi had kept her promise, FY 2008 and FY 2009 would have produced “NO NEW DEFICIT SPENDING”.

    Instead, the Pelosi-Reid-Obama FY 2009 spending increased the deficit by a whopping $1.885 TRILLION in a a single year.

    And that’s a fact, Jack.

    http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

  21. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7246622

    “Bush SIGNED those bills”

    Not exactly.
    Bush signed the FY 2008 spending that was sent to him by Pelosi and Reid.
    But OBAMA signed the FY 2009 Omnibus Appropriations Act.

    Yet Rex dishonestly paints FY 2009 red for Bush, when it should be blue for Obama.

  22. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7246624

    Give credit/blame to the party which controlled a majority (2+ out of 3) of:

    – the House of Representatives
    – the Senate
    – the Presidency

    Republicans were in the majority for FY 1995-2007.

    Democrats have been in the majority for FY 2008-present.

  23. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7245913

    I’ve taken the liberty to repaint FY 2008 and FY 2009 based on the party that had majority control of the budgeting and spending process…

    Rex Nutting and the Obama Lie

    http://itooktheredpill.wordpress.com/2012/05/25/rex-nutting-and-the-obama-lie/

    Give credit/blame to the party which controlled a majority (2+ out of 3) of:

    – the House of Representatives
    – the Senate
    – the Presidency

    Republicans were in the majority for FY 1995-2007.

    Democrats have been in the majority for FY 2008-present.

    And that’s a fact, Jack.

  24. Indeed. And for those who are unfamiliar with the Cloward–Piven strategy:

    http://en.wikipedia.org/wiki/Cloward%E2%80%93Piven_strategy

  25. Even that chart attributes FY 2009 to Bush. It shouldn’t. The Omnibus Appropriations Act for FY 2009 was passed by Pelosi and Reid, and signed by Obama.

    ===================

    The Omnibus Appropriations Act for FY 2009 was passed by Pelosi and Reid, and signed by Obama.

    That’s a fact.

    To “Blame BUSH!!!” for FY 2009 spending is utterly dishonest.

  26. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7246697

    Fiscal Years run October 1st of one year to September 30th of the following year. However, Pelosi and Reid intentionally held the Omnibus Appropriations Act for FY 2009 and waited until Obama was inaugurated. That act was signed by Obama on March 11, 2009. So “credit” / “blame” for FY 2009 belongs to Obama and the Democrats, NOT Bush.

    It is utterly dishonest to blame Bush for FY 2009 and then use that as the baseline for comparison of FY 2010-present.

    If you want an honest comparison, look at the last Fiscal Year that was passed by a Republican House, Republican Senate, and Republican President: FY 2007. The Democrats have held majority control from FY 2008 to present.

  27. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7246664

    It really is an embarassment for the WSJ brand. It falsely blames Bush (shocker!) for spending that was passed by Pelosi and Reid, and signed by Obama.

    And Obama is going around touting this post and using the WSJ brand for credibility:

    ““My opponent won’t admit it, but it’s starting to appear in places, like real liberal outlets, like the Wall Street Journal: Since I’ve been president, federal spending has risen at the lowest pace in nearly 60 years.”

    http://hotair.com/headlines/archives/2012/05/24/obama-dont-believe-what-you-hear-about-me-being-a-big-spender/

    The Wall Street Journal may want to take action to protect their brand.

    It is utterly dishonest for Rex Nutting to pait FY 2009 red and blame Bush for spending that was passed by Pelosi, Reid, and Obama.

  28. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7246522

    Average annual revenues during the Democrat majority fiscal years 2008-2012 has been $200 Billion HIGHER than the average annual revenues during the Republican majority fiscal years 2002-207.

    The problem isn’t revenues, which have gone up 10%.

    The problem is spending, which has gone up 45% under the Democrat majority. And that has caused deficits to go up 315%.

    Obama and the Democrats are the biggest spenders in history.

    And that’s a fact, Jack.

  29. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7246483

    “The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.”

    – Barack Obama
    July 3, 2008

    With Democrats in majority control (controlling 2+ out of 3 of the House, Senate, and Presidency) since January 2007 (including Obama as Senator in the Democratic majority and then as President), we now have over $15.7 trillion of debt that we are going to have to pay back — over $50,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.

  30. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7246791

    “Those of us who have followed MW for years know that Rex is good for a laugh now and then, but never the truth.”

    The problem is that the President of the United States is explicitly referencing this post and using the credibility of the Wall Street Journal to try to convince people that a lie is the truth.

    That is no laughing matter.

    And it is absolutely a lie to take FY 2009 spending that was passed by Pelosi, Reid, and OBAMA and falsely blame it on Bush.

  31. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7246868

    “from 2009″

    That is the problem with Rex’s analysis, in two words: “from 2009″.

    It is utterly dishonest for Rex to take FY 2009 spending that was passed by Pelosi, Reid, and OBAMA and falsely blame it on Bush, and then use that as his baseline from which to compare Obama.

  32. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7246855

    Remember budgets, America used to have them

    Indeed. The reason the FY 2010 – FY 2012 spending looks a lot like FY 2009 spending is because they HAVEN’T PASSED A BUDGET IN 3 YEARS!!! They keep passing “continuing resolutions” that keep the FY 2009 spending going. All of those things that were supposed to be “one time” expenditures in FY 2009 are now costing us money every single year.

    Using the numbers that Rex points to:

    http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls

    Average annual TOTAL outlays during the Republican majority fiscal years 2002-2007: $2.39 Trillion per year

    Average annual TOTAL outlays during the Democrat majority fiscal years 2008-2012: $3.47 Trillion per year

    Democrats increased average annual TOTAL outlays by 45%.

    Democrats increased average annual TOTAL outlays by over $1 TRILLION a year.

    And now they pretend that maintaining that level of spending, without a budget, is somehow a good thing.

  33. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7247432

    Rex is a JournOlist who is doing the Obama campaign’s bidding.

    For Rex to admit that “credit” / “blame” for FY 2009 spending belongs to those who passed it… namely Pelosi, Reid, and Obama… would require Obama to admit that he was deceiving people when he explicitly referenced this very post in an attempt to use and abuse the credibility of the Wall Street Journal in an attempt to fool people into believing a lie.

  34. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7247469

    It’s not about one man. It’s about the entire Democratic Party.

    I challenge anyone to point out areas where the agenda of the Democratic Party differs in any meaningful way from the Party Program of the Communist Party USA:

    http://cpusa.org/party-program

  35. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7247481

    Remember “Cash for Clunkers”?

    Was that a Bush program or an Obama program?

    That was FY 2009 spending, and Rex Nutting blames that on Bush.

  36. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7247643

    Rex needs to work on his facts…

    http://news.investors.com/article/612620/201205241756/obama-is-a-spendthrift.htm?src=HPLNews

    Rex has yet to update this post to reflect that FY 2009 should be painted blue, not red, and that the “baseline” should not be FY 2009.

    An honest baseline would be FY 2007, the last budget that was passed by a Republican majority. But I’d settle for FY 2008, the last budget signed by Bush.

    If Rex does not update his post to reflect the truth, then he should be fired from the Wall Street Journal.

  37. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7247702

    TARP never happened? The payroll tax cut never happened? The GM/Chrysler bailout never happened? What else never happened, Rex? The American Moon Landing?

    Democrats made TARP necessary because Democrats blocked Republican attempts to reform Fannie/Freddie.

    The facts show that Receipts hit a low in FY 2003. The second part of the Bush Tax Cuts were passed in 2003 and INCREASED revenues by increasing employment and therefore increasing revenue from payroll taxes.

    Both TARP and the GM/Chrysler bailout happened when Democrats controlled the majority.

    Obama specifically asked Bush to request the second half of the TARP money. Bush got all of the blame, but Obama got more than half the money.

    “Cash for Clunkers” was an Obama/Democrat program in FY 2009 that dishonestly gets painted red for Bush in the graph Rex uses for this post.

  38. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7247810

    Rex Nutting said, “Check the official numbers at the Office of Management and Budget.”

    Ok.

    http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls

    Republicans held a majority (2+ out of 3) of the House, Senate, and Presidency from FY 1995-FY 2007. During that time, the average Receipts were $1.89 Trillion per year, average Outlays were $2.00 Trillion per year, and the average deficit was $0.11 Trillion ($110 Billion) per year.

    Democats held a majority (2+ out of 3) of the House, Senate, and Presidency from FY 2007-FY 2012. During that time, the average Receipts were $2.31 Trillion per year, average Outlays were $3.47 Trillion per year, and the average deficit was $1.16 Trillion ($1,160 Billion) per year.

    Based on those facts, which party is the more fiscally responsible party?

  39. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7248010

    “Check the official numbers at the Office of Management and Budget.”

    Ok.

    http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls

    The worst deficit of the Republican majority years (Fy 1995 – 2007) was FY 2004.

    In FY 2004,
    Total Receipts were $1.88 Trillion
    Total Outlays were $2.29 Trillion
    Total Deficit was $0.41 Trillion ($401 Billion)

    The worst deficit of the Democrat majority years (Fy 2008 – 20012) was FY 2009.

    In FY 2009,
    Total Receipts were $2.10 Trillion
    Total Outlays were $3.52 Trillion
    Total Deficit was $1.41 Trillion ($1,401 Billion)

    FY 2009 Outlays were passed by the Nancy Pelosi House of Representatives, the Harry Reid Senate, and signed by President Obama.

    The Pelosi/Reid/Obama FY 2009 Outlays were 53% larger than the FY 2004 Outlays.

    Even with FY 2009 Receipts that were up 12% from the FY 2004 receipts, Democrats managed to end up with a FY 2009 deficit that as almost 3 and half times the size (up 242%) of the FY 2004 deficit.

  40. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7248341

    Hey ErikB spambot,
    If FY 2010 was “the first budget under Obama”, then why is Obama’s signature on the Omnibus Appropriations Act for FY 2009?

    [lots of interesting replies to this...]

  41. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7248409

    I’ve seen many comments over the last 3 dozen pages that make that claim that the Bush Tax Cuts lowered revenue. The reverse is true. The Bush Tax Cuts INCREASED Receipts, and the numbers that Rex points to prove it.

    http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls

    Looking back, Receipts peaked in FY 2000 at $2.03 Trillion. Bush came into office part way through FY 2001, when the Dot Com bust and higher unemployment were decreasing receipts from capital gains and payroll taxes. Then came 9/11 and another hit to our economy. The low point for Receipts came in FY 2003 at $1.78 Trillion. The second half of the Bush Tax Cuts were passed 4 months before the end of FY 2003. If the Bush Tax Cuts “lowered revenues”, then you would expect the FY 2004 Receipts to be lower than FY 2003. The truth is that Receipts grew every year in FY 2004, 2005, 2006, and 2007. Then the Democrats took majority control of Congress and spending….

    [lots of replies to this...]

  42. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7248657

    Here’s something I don’t understand…

    Why are the Deficits shown here…

    http://www.whitehouse.gov/sites/default/files/omb/budget/fy2013/assets/hist01z1.xls

    …smaller than the FY increases to the Total National Debt shown here…

    http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm

    http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

    http://www.treasurydirect.gov/NP/BPDLogin?application=np

    WHERE IS THE EXTRA DEFICIT MONEY GOING?

    ——————

    No, seriously.

    Even in the years that the OMB claims a “surplus” (FY 1998 – 2001), there was an INCREASE, not a decrease, to the Total National Debt. When the Total National Debt goes up year-to-year, I call that increase the true FY deficit. Something is fishy. The true FY deficit (increase in the Total National Debt) is ALWAYS bigger than the “Surplus or Deficit” column of the OMB spreadsheet.

    Money is being spent on something without it showing up in either the “On-Budget” or “Off-Budget” numbers from the OMB.

    Can anyone explain this?

  43. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7248701

    Obama’s latest campaign angle:
    I’ve been saving America from wild Republican debts

    By Doug Powers • May 24, 2012 04:33 PM

    http://michellemalkin.com/2012/05/24/obama-republicans-debt/

  44. http://www.marketwatch.com/story/obama-spending-binge-never-happened-2012-05-22#comment7248754

    This lie fed from the DNC, to Nutting, to Obama’s Teleprompter.
    ———-
    At a fundraiser for his re-election campaign in Denver tonight, President Obama set out to upend conventional Republican wisdom that his administration has been defined by excessive government spending.

    “I’m running to pay down our debt in a way that’s balanced and responsible. After inheriting a $1 trillion deficit, I signed $2 trillion of spending cuts into law,” he told a crowd of donors at the Hyatt Regency. “My opponent won’t admit it, but it’s starting to appear in places, like real liberal outlets, like the Wall Street Journal: Since I’ve been president, federal spending has risen at the lowest pace in nearly 60 years. Think about that.”

    Obama was referring to an analysis released this week by Rex Nutting, a reporter for CBS MarketWatch who is also affiliated with the Wall Street Journal. Nutting concluded that Obama has presided over the slowest growth in federal spending in decades.
    ———-

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