chessdev (chessdev) wrote in talk_politics,

What The Pushback On Obama’s Spending Claim Ignores

On the campaign trail, President Obama has touted recent data that dispels the notion that he has embarked on a spending binge — and his Republican opponents, citing various fact-checks, are aggressively pushing back.

Part of the pushback, it turns out, inadvertently proves Obama’s larger point.

Federal spending since I took office has risen at the slowest pace of any president in almost 60 years,” Obama said last Thursday at a campaign rally in Des Moines, Iowa. Citing a MarketWatch study, White House spokesman Jay Carney called the notion of an Obama spending spree “BS.”

Fact-checkers pounced — including The Associated Press, the Washington Post and the Wall Street Journal editorial board — issuing rebuttals that conservatives and Republicans have cited as evidence that Obama’s claims are wrong.

“President Obama continues to repeat false and discredited talking points about his prolific spending record to distract from the record debt that he is passing on to future generations,” Ryan Williams, a spokesman for Mitt Romney, told TPM. “As a president who broke his promise to cut the deficit in half by the end of his first term, Barack Obama has no credibility when it comes to fiscal responsibility.”

Much of the pushback focuses on the growth of federal spending as a share of the economy under Obama. Under this benchmark, spending appears to have skyrocketed. But the metric is flawed because revenues have fallen during Obama’s tenure due to a huge economic contraction that began before he took office. That standard, in effect, blames him for the downturn.

The fact-checks did find some questionable premises from MarketWatch. For one, it effectively treated the paybacks from President Bush’s one-time bailouts of the financial sector, as well as Fannie Mae and Freddie Mac, as spending cuts under Obama. The outlets also argued that baseline changes in the president’s budget tweak the spending figures in friendly ways.

Tallying that up, the Wall Street Journal editorial board concluded: “To anyone who really knows the numbers, Mr. Obama’s spending has increased by closer to 5% a year,” as opposed to the 1.4 percent in the MarketWatch numbers. The Republican National Committee touted the Journal’s figure in its rebuttal of Obama’s point.

The problem with that is 5 percent is still low by historical standards. That’s especially true of modern Republican presidents: President George W. Bush’s two terms saw spending increases of 7.3 and 8.1 percent, respectively; President George H.W. Bush’s figure was 5.4 percent and President Ronald Reagan’s were 8.7 and 4.9 percent. (Spending increases under President Bill Clinton were under 4 percent.)

RNC spokesman Sean Spicer told TPM, “The overarching point is that almost every outlet disagrees with Carney’s spin on spending.”

Ultimately, Obama may have exaggerated his ostensible frugality, but even according to the figures Republicans cite, his spending is still low by the standards of modern presidents. The firestorm of criticism Obama receives on the debt often papers over that fact.

[chessdev]  What is interesting to me is the amount of revisionism I've been reading in the attacks against Obama:

 Obama was attributed bills  that occured before he was even in office, the GOP has blocked him at every vote and then goes "yeah, look what he HASNT gotten done",  and now even when arguing against his record -- the GOP essentially looks past historic low spending to argue 'out of control spending' instead.

Which fits into a larger theme where concern for the poor is labelled as "Socialists", where arguing for the auto industry's destruction is labelled "supporting it", thinking corporations with record profits should pay taxes is "Destroying job creation"  with laughable misapplications of Laffer thrown in for good measure, and where religious zealots argue America is a Christian Nation with laws that uphold those long as those ideals compel behavior of others (Cant marry him/her) but not require behavior of the advocates themselves ("pay an extra $1 to feed the poor?  TYRANNY!!").

Does the real record even matter anymore?  I'm starting to doubt it at this point...

Tags: article, economy, obama
  • Post a new comment


    Comments allowed for members only

    Anonymous comments are disabled in this journal

    default userpic

    Your reply will be screened

    Your IP address will be recorded