OMB: Obama First President to Spend $4 Trillion in One Year
The White House Office of Management and Budget (OMB) released figures with President Barack Obama’s 2014 budget that reveal he will become the first president in U.S. history to spend $4 trillion in a single year.
In fiscal 2016, the OMB says Obama will spent $4.0898 trillion and $4.2474 trillion in fiscal 2017. Obama will vacate the Office of President four months into fiscal 2017 on January 20, 2017.
OMB projections indicate the budget will never balance under Obama’s budget plan.