The 7-Eleven Presidency


obama5In the wake of the Treasury Department’s newly released summary of federal spending for 2012, it’s now possible to detail just how profligate the Obama years have been. Here’s the upshot: Under Obama, for every $7 we’ve had, we’ve spent nearly $11 (or, to be more exact, $10.95). That’s like a family that makes $70,000 a year – and is already knee-deep in debt – blowing nearly $110,000 a year.

To illustrate this a bit differently, for every Jackson ($20) we’ve had available to spend under Obama, we’ve also borrowed a Hamilton ($10) and a Washington ($1) and spent those too. The only thing is that, under Obama, we’ve (literally) spent the equivalent of 342 billion Jacksons, 342 billion Hamiltons, and 342 billion Washingtons – borrowing all of the Hamiltons and Washingtons.

Let’s take a look at the scorecard, based on official government figures. In fiscal year 2012 (which ended on September 30), the federal government acquired $2.449 trillion in tax revenue and other receipts. It spent $3.538 trillion – 44 percent more than it had available to spend. The resulting deficit was $1.089 trillion.

In fiscal year 2011 (see table S-1), the federal government acquired $2.303 trillion in tax revenues and other receipts. It spent $3.603 trillion – 56 percent more than it had available to spend. The resulting deficit was $1.3 trillion.


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  1. Wow, this is a great article. It clearly and easily shows how much destruction Obama has done. Done forget he was partially raised by his Muslim by his father and introduced to islam at an early age.

  2. when you expose unwitting frum Jews to the lies of the Weekly Standard, and if you know this is what you are doing, then you will receive a din vcheshban that will ruin your life. If you are just incompetent at your jobs, then be aware that you are damaging unwitting Jews who don’t know that the Weekly Standard is Republican activist media site. Furthermore the article you chose to publish leaves out important information on the topic. If the important information of which I am referring to were included by matzav, the frum readers would recognize that the assertions of blame ( at Obama) for this situation is without merit.

    There are two houses of Congress and nothing is spent unless they approve it at some point. Furthermore Congress can prevent even the spending that was already approved to be spent at the president’s discretion.

    Now the rank and file prestigious economists of the USA agree more or less that serious cuts to spending ( beyond waste) are detrimental to the economy when unemployment is over (around) 6%.

    Add to that the fact that the recession of december 2007 through June 2009 was not Obama’s fault.

    Add to that the fact that prior to his entering the White House the CBO ( bipartisan) projections for the spending of the fiscal year in which Obama took office, that began over a half a year before he took office, were named at 1.2 trillion ( also of course not the resposbility of obama),

    and add to that fact that the already legislated tax cuts from Bush were still in effect until 2 years into his administration,

    and add to that fact that aside from the 800 billion stimulus- a one time event- Obama’s submissions for discretionary spending ( ie. spending requests that are not already part of Congressional laws on spending that were in place before Obama like medicare, social security, unemployment ( other than his requests for temporary increases in unemployment)– all OTHER spending went down, not up. Discretionary spending is down.

    But the Bush tax cuts on people making over a million dollars equal a trillion over 10 years. And the Bush tax cuts for people making under a million equals 2.8 trillion over 10 years, and the unpaid Bush prescription plan for seniors is a trillion over ten years, and the war in Iraq (that wasnt needed since the CIA publicly told everyone before the war that no danger was imminent) costing over 2 trillion dollars over ten years including the medical bills and pensions for the hundred thousand wounded and 4,000 killed, are Bush’s and previous congresses fault– not Obama’s.

    And therefore for matzav to print an article that leads to opposite conclusion that a more detailed comprehensive article should supply to its readers, means that matzav is damaging a generation of frum Jews.

    A lie is a lie if withholding information from your audience leads them to conclude the opposite of the truth.

    Din v’cheshban to the degree that the ones that control matzav have brain cells that they could use to do the right thing and stop lying to a generation of frum Jews.

  3. Oh. I see.

    So THAT information was misleading.

    How about this – when Obama entered office, the total U.S. public debt (money borrowed by the government) stood at about $10 trillion.

    In just four years that number has skyrocketed up to SIXTEEN trillion dollars.

    That’s a greater increase in a shorter period of time then was seen in the presidencies of Clinton and GW Bush COMBINED!

    You can say all you want that it’s not his fault; that he inherited other people’s problems; that Congress aided and abetted. But on the other hand, he did nothing to help the situation, and, in fact, was an eager and active participant.