It’s official. President Barack Obama is the biggest spender in the history of the world. And that is not hyperbole. Like a shopaholic who denies the addiction, Obama has consistently been in denial about his reckless spending addiction. Despite President Barack Obama’s denials, though, an analysis by Forbes shows there has not been a greater spender than Obama.
According to Forbes, “Obama’s own fiscal 2013 budget … shows federal spending increasing from $2.983 trillion in 2008 to an all time record $3.796 trillion in 2012, an increase of 27.3%” and, “before Obama there had never been a deficit anywhere near $1 trillion.”
In addition, Obama had four consecutive budget deficits of over a trillion dollars and, in just one term, will “will have increased the national debt as much as all prior Presidents, from George Washington to George Bush, combined.”
And according to the study, budget proposals supported by Obama and Congressional Democrats will increase federal spending to the point where it will become 80% of the GDP if not reined in.
And in the short term, according to Forbes:
Obama’s 2013 budget proposes to spend $47 trillion over the next 10 years, the most in world history by far, increasing federal spending by $1.5 trillion above the current CBO baseline.
The first step in treating Obama’s spending addiction will be for him to admit he has a problem. What should scare Americans is that Obama seems a long way from even realizing he has a spending problem, let alone admitting that he does.