Under Obama, the government has spent $11 for every $7 they’ve brought in

In 2008 Obama claimed George Bush was unpatriotic for adding $4 trillion to the national debt in 8 years.

Just two days ago, in one of the most surreal moments of the debate, the guy who’s run up the debt by $5.557 trillion (as of 9:40 this morning) in less than four years lectured Romney on fiscal responsibility. That was as nonsensical as Obama’s claim that he increased oil and gas permitting. He’s didn’t. Anyway, The Weekly Standard’s Jeffrey Anderson points out just how absurd it is for Obama to lecture anyone in the history of the world on fiscal responsibility:

In the wake of the Treasury Department’s newly released summary of federal spending for 2012, it’s now possible to detail just how profligate the Obama years have been.  Here’s the upshot:  Under Obama, for every $7 we’ve had, we’ve spent nearly $11 (or, to be more exact, $10.95).  That’s like a family that makes $70,000 a year — and is already knee-deep in debt — blowing nearly $110,000 a year.

To illustrate this a bit differently, for every Jackson ($20) we’ve had available to spend under Obama, we’ve also borrowed a Hamilton ($10) and a Washington ($1) and spent those too.  The only thing is that, under Obama, we’ve (literally) spent the equivalent of 342 billion Jacksons, 342 billion Hamiltons, and 342 billion Washingtons — borrowing all of the Hamiltons and Washingtons.

These numbers aren’t just for FY 2012; they’re for the entirety of Obama’s presidency. And he has no plans to change his spending habits. None. Are there enough Jacksons, Hamiltons, and Washingtons left to last four more years of this fiscal insanity? Maybe we should ask Greece.



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