“President Obama’s fourth budget has now been released, which allows for a relatively full accounting of deficit spending during his four years in office.
According to the White House’s own figures, the actual or projected deficit tallies for the four years in which Obama has submitted budgets are as follows: $1.293 trillion in 2010, $1.300 trillion in 2011, $1.327 trillion in 2012, and $901 billion in 2013. In addition, Obama is responsible for the estimated $200 billion that his economic “stimulus” added to the deficit in 2009. Moreover, he shouldn’t get credit for the $149 billion in TARP (Troubled Asset Relief Program) repayments made in 2010 and 2011 to cover most of the $154 billion in bank loans that remained unpaid at the end of the 2009 fiscal year — loans that count against President Bush’s 2009 deficit tally.
Deficit spending during Obama’s four years in the White House will be an estimated $5.170 trillion.” — Jeffrey H. Anderson, Copyright 2012 The Weekly Standard LLC