Obama the penny pincher?
Obama has been exposed in yet another blatant campaign lie. This one wasn’t even really his fault. Rex Nutting, a writer for the mainstream/yet left leaning Marketwatch prepared a chart that shows Obama hasn’t really grown spending all that much. The administration quickly ran with it, putting the chart on their facebook page, and announcing that Obama was a model of fiscal restraint.
So how does this economist at Marketwatch, and now Obama and media reporters who can barely add two and two, come to figure out that Obama is so thrifty? Simple. Their percentages make one major assumption that makes the percentages meaningless. Every dollar of spending in the first year of a President’s term is directly a result of the budget the previous President wrote.
To put it simply, the $787 billion dollar stimulus bill that Obama ran on, lobbied for, pushed through the Democrat super majorities in the House and Senate, and signed was actually spending that should be attributed to Bush. Of course once you do that you have majorly inflated Bush’s spending and deflated Obama’s spending so that percentages make Obama look like a champ. I’m not making this up. This is actually what Rex Nutter did. He also included 2013 in Obama’s figures even though Obama’s budget lost in the Senate something like 99-0.
Nutter should be fired, but who is going to fire him? Journalists rely on people like Nutter to be the “experts”. That way they don’t have to actually do any work.
“I was for tax and spend, before I was against it!”
Obama’s budget cuts the deficit by $4 trillion over the next ten years. Of course, like Clinton’s last budget in office, it is simply words on a page that have absolutely no bearing on reality. But nevermind the fact that $4 trillion over the next ten years wouldn’t cover Obama’s deficits for his first four years or that his numbers are probably about as accurate as the CBOs estimate of the costs of Obamacare. Since when did Obama decide he was against tax and spend??
Obama, on the one year anniversary of what Nutter seems to think was Bush’s stimulus, praised the stimulus package as having saved us from another great depression. So shouldn’t we be thanking Bush? While Obama has been running as a tax cutting President who pinches pennies on his facebook page, just a couple weeks ago he re-affirmed his tax and spend stance in the upcoming debt ceiling debate. Obama went from tax and spend, to proud tax cutting President when he was forced to extend the Bush tax cuts, to tax and spend when the debt ceiling debate rolled around again, and back to tax cutting for the 2012 election. Even John Kerry was more consistent.
Biting the hand that feeds them
It is not coming up all roses for the Obama propaganda machine. Obama is betting the farm on a populist attack against Bain Capital where Romney used to work. But the Left has been heavily funded by private equity, and most private equity companies didn’t get the memo about Obama just saying whatever it takes to get elected. Some of them are actually getting offended by the attacks.
Democrats are getting nervous too. Apparently not every Democrat feels comfortable biting the hand that feeds them. But what else does Obama have to attack Romney on other than the fact that he is successful and the “independent” liberal voting base is anti-success?
The attack on Bain is dubious anyway. As a venture capital company, they may have had lots of layoffs on their watch in order to fix businesses, but Obama has seen 2.5 million net jobs lost on his watch. Actually, let me borrow some Obama math and accuracy and adjust that number to 6.7 million jobs lost. After all, if the net loss is 2.5 million, but Obama claims he added 4.2 million, then shouldn’t we be using the total jobs lost figure instead of the net? Just trying to be consistent, Mr. President.
Obama is running as a conservative while acting like a liberal. When conservatives force his hand, he is happy to take credit for the results. When liberalism fails, he is happy to pass the buck to Congress or the previous administration. He will say or do whatever it takes to win re-election and cannot be trusted.
Filed under: President Obama | Tagged: 140 billion, 2013 budget, 787 billion, 99-0, Bain, Bain Capital, Barack Obama, bloomberg, budget, Bush, capitalism, cbo, clinton, CNN, Congress, conservative, Daily Caller, Debt, deficit, equity, finance, flip flop, how much was the stimulus, john kerry, last 8 years, liberal, marketwatch, Mitt Romney, msnbc, nutter, obama, obama a spendthrift, obama spending, obama spending levels, obama spent less, Obamacare, private equity, Romney, Senate, spending cuts, stimulus, surplus, tax and spend, tax cuts, venture capital, yahoo! |