Do we have a dream team here? Ready for slashed spending? Are we scared yet?
Mitt Romney and Paul Ryan appear to be basing their 2012 Presidential campaign upon the theory that Obama is a tax and spend President and that his “runaway spending” policies have been responsible for the biggest deficit and the fastest growing national debt in the history of the country.
The Republican ad machine tells us that were we to re-elect him, we would be endorsing more of the same, as well as increased spending for entitlements, that would push the deficit to historic levels and cost more jobs while creating an even larger national debt.
Oddly, the actual facts tell a very different story. Compared to George W. Bush and Ronald Reagan, Obama’s record in office shows that he has embraced fiscal conservatism more than any other president in recent history, with the exception of fellow Democrat Bill Clinton.
Economics Professor Mark Thoma provides a helpful chart on his blog that puts President Obama’s per capita spending into context, comparing it with the spending of every president in the last 40 years:
The data is going to be difficult for Obama’s critics, who have spent years hammering his administration for record spending and fiscal irresponsibility. The Atlantic’s Derek Thompson put it best: “Going by federal expenditures…it would seem that if Obama’s a socialist, Ronald Reagan is Karl Marx with an ICBM.”
Here’s a look at public sector employment during the Obama Expanding Government era; the 1981, 1990 and 2001 recessions were under Reagan, Bush I and Bush II. The red line is the 2007 Obama recession:
Or, how about a look at Obama’s big-government policies in action. They should have led to a massive growth in our bureaucracy, right? Well, believe it or not, there have been 607,000 jobs lost in the public sector, largely from state and local cutbacks due to no federal aid. Here’s what that looks like:
I could go on, and there are endless charts that all say the same thing, no matter how you slice and dice the data. This guy is a conservative.
At the end of the day, it is really, truly time for the myth about Big Spender Obama to die. If anything, it is remarkable that, after the worst recession in history and a private sector implosion, the public sector expanded less under this administration than it did under Bush or Reagan. Them’s the facts.