Morning Bell: Believe it. Obama’s A Big Spender.
I guess you have to believe Obama is fiscally responsible if you're a supporter of his. The reality would be too much to handle. Most people don't like to be wrong.
There are some things that are so apparent that they’re not even worth mentioning. What goes up must come down. The earth is round. President Barack Obama is a big spender. But this week, some in the media and in the White House are denying one of these totally obvious truths. It shouldn’t be a big surprise which one it is.
On Tuesday, MarketWatch’s Rex Nutting wrote that claims of Obama’s big spending ways are overblown and that the “Obama spending binge never happened.” In a press gaggle on Wednesday, White House spokesman Jay Carney picked up on the argument and claimed that “this President has been–has demonstrated significant fiscal restraint and acted with great fiscal responsibility.”
But sure as the sun rises in the east, not in the west, claims of Obama’s supposed “fiscal restraint” are just plain wrong. Heritage’s J.D. Foster explains:
Federal spending as a share of the economy will average over 24 percent during Obama’s term, and each and every year of that term will see a higher share than during any year since the Second World War. That apparently qualifies as ‘significant fiscal restraint’ Obama-style.
Fiscal responsibility? Obama has had by far the largest budget deficits, driven in large part by the eruption in spending.