Hinderaker’s Deceptive Budget Analysis
In Obama’s Deceptive DOA Budget – Part 2, John Hinderaker says:
For FY 2013, Obama proposes to spend $3.856 trillion, $873 billion–29%–more than the last year of pre-recession spending by the Democratic Congress, FY 2008.
[T]he amount of debt held by the public has nearly doubled to $6.4 trillion from 2001 to 2008. We are now living with the fallout of this deep fiscal irresponsibility.
In hindsight, the “deep fiscal irresponsibility” of the Bush administration (and, of course, the Democratic Congress that was elected in 2006) looks like a golden age. After three years of Obama’s presidency, the debt held by the public has almost doubled, and stands at $11.6 trillion as of FY 2012.
It’s great when Hinderaker uses numbers in his criticisms – because numbers can be analyzed and verified – as opposed to his vague assertions that “Obama’s regulations are killing the economy”.
So what are the numbers? Is it true that the Bush years “look like a golden age” when it comes to fiscal responsibility? Contrary to popular belief, no president controls the economy. They only control (with congressional approval) spending and tax policy. Since Obama has not raised taxes yet, let’s compare the spending increases under Bush and Obama. Let’s even be generous, and exclude the last 2 years of Bush’s presidency – when those big spending liberals took back the congress.
George Bush’s first budget was for FY 2002 and his final budget with a GOP-controlled congress was for FY 2007. Over those 6 years, spending went from $1.863 trillion to $2.729 trillion. This is an annual rate of increase of 6.57%.
Spending in the “last year of pre-recession spending by the Democratic Congress, FY 2008” was $2.978 trillion and the FY 2013 budget just proposed by Obama calls for $3.803 trillion. This works out to an annual rate of increase of 5.01%.
Now I’m no mathematics professor, but I’m pretty sure 5.01% is less than 6.57%. That would make Obama and the democratic congress more responsible when it comes to spending than the GOP.
Note: The FY 2013 budget proposal was originally stated to be $3.856T, this has been corrected.