Daily Scoop Xtra: Is Obama a big spender?


NEW YORK (CNNMoney)  — Is President Obama a big spender who has blown up the national debt?

Republicans say he is, and Democrats say he isn’t. And they both use numbers and past presidents’ records to make their point.

Trouble is, “you can make the numbers tell you what you want if you torture them enough,” said Rudolph Penner, a former director of the Congressional Budget Office.

Here’s what we know about spending and deficits during the Obama administration: They started climbing sharply in late 2008, even before he took office, and have remained high since.

In fact, both spending and debt have been far above their historical norms as a percent of GDP. Revenue, meanwhile, has been treading near 60-year lows.

But those numbers alone don’t fully address the question. The context matters. Among the factors to consider:

Read more…

 

____________________________________

Follow on Facebook and Twitter

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: