Terence P. Jeffrey
Feb 13, 2013
President Barack Obama said in his State of the Union Address on Tuesday night that nothing he was proposing in the speech would “increase our deficit by a single dime.” He then proposed at least 29 new government programs.
“Tonight, I’ll lay out additional proposals that are fully paid for and fully consistent with the budget framework both parties agreed to just 18 months ago,” said Obama. “Let me repeat: Nothing I’m proposing tonight should increase our deficit by a single dime.”
In fiscal year 2008, the year before Obama took office, federal spending was $2.98 trillion, according to the White House Office of Management and Budget. In fiscal 2013, the current year, OMB estimates federal spending will be $3.80 trillion–an increase of 27.5 percent.
Since Obama was first inaugurated on Jan. 20, 2009, the federal government’s debt has increase by $5.86 trillion.
This article was posted: Wednesday, February 13, 2013 at 6:18 am