Obama's spending binge

Then there’s Obama’s spending in general . . . another reason not to vote for him, according to The Brief Against Obama by Hugh Hewitt. His main point is that Obama and the Dems have gone on a spending and borrowing binge.

Here are some numbers. Under Bush, these were the deficits during his White House days: 2001 (no deficit), 2002 ($158 billion), 2003 ($377 billion), 2004 ($412 billion), 2005 ($318 billion), 2006 ($248 billion), 2007 ($161 billion), 2008 ($459 billion). Now, I’m not going to say this was a stellar record. Definitely not. But take a look at Obama’s deficits: 2009 ($1.4 trillion), 2010 ($1.3 trillion), 2011 ($1.3 trillion).

So under Bush’s eight years, we accumulated a deficit of a little over $2 trillion. Obama managed to pass that in just his first two years. If interest rates grow at all, this will cost our government an even more astronomical sum.

Of course, we are hearing that Obama inherited a terrible economy. But he promised he could tame it without the crushing deficits he ended up creating. We got the same argument when it came to the stimulus and unemployment—all would be well if we just let the President spend his way out of the problems. But it didn’t work out that way. Things have not gotten better under this administration. Why should we re-elect someone with such poor powers of forecasting economics?