- - Tuesday, May 27, 2014

Federal spending is exploding under President Obama, shattering every record for budget deficits, public debt and annual expenditures.

So much so, that a term like “big government” fails to adequately define the fiscal wreckage that has occurred under his presidency.

Like the endlessly anemic economy his jobless policies have spawned, you don’t hear much, if anything, about wasteful, ineffective federal spending on the nightly news, nor from Mr. Obama and his party — ever.

Yet the evidence of skyrocketing spending is there for all to see, growing grotesquely higher with each passing year, leaving behind mountains of economy-crushing debt for future generations to pay.


The publicly held debt — what we’ve borrowed to meet the government’s spending bills — is nearly $11 trillion. The gross federal debt — the sum total of all our borrowing and the future liabilities and benefits we’ve promised to pay — is approaching $17.9 trillion.

Throw in an additional $4 trillion if you want to include all state and local government debt, too.

Annual spending mushroomed to $3.6 trillion in 2014, and will rise to $3.9 trillion in fiscal 2015, then surpass $4 trillion in fiscal 2016 during Mr. Obama’s final year in office.

The president’s spending set a record for annual deficits and chalked up a multitrillion-dollar deficit record in his first four years.

Between 2009, when he took office, and 2012, when he won election to a second term, he had run up more than $5 trillion in red ink: $1.4 trillion in 2009, $1.29 trillion in 2010, $1.3 trillion in 2011, and more than $1 trillion in 2012.

The obscene deficits continue in his second term: $680 billion in 2013, $649 billion in 2014, and an estimated $564 billion in 2015.

The deficits of the previous four years were much lower under President George W. Bush: $318 billion in fiscal 2005, $245 billion in 2006, a tame $161 billion in 2007, and $458 billion in 2008.

During Mr. Obama’s first four years in office, he added more than four times more to the federal government’s monster debt — a whopping $5 trillion — than his predecessor Mr. Bush did in his last four years as president — $1.18 trillion.

No other president in our history has spent more than Mr. Obama over this period. No president has piled up as much debt as fast as Mr. Obama, nor has any run up anywhere near the unprecedented deficits he’s recorded in each of his first four budgets.

His past three estimated budgets deficits, all well above the half-trillion-dollar level, suggest that he will leave office with the highest debt accumulation in U.S. history.

On Feb. 23, 2009, when he had been in office for about a month, Mr. Obama told us: “Today I’m pledging to cut the deficit we inherited in half by the end of my first term in office.”

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