Originally Posted by DBruleU
Until Obama took office, the US had never spent more than 23.5% of its GDP with the exception of course during WWII.
Spending under Obama?
• 25.2% of GDP in 2009
• 24.1% of GDP in 2010
• 24.1% of GDP in 2011
• 24.3% (estimates by the White House ) in 2012
If Obama wins reelection, spending according to his budget would never be less than 22.3% of GDP. Under that forecast the AVG spending would be 23.6% of GDP for his 8 years in office.
How much of that spending was locked in from the disastrous Bush years?
Or do we just ignore the administration that created the mess we must now crawl out of? And crawl it will be until Europe and Asia also turn their economies around.
Are exports to non-existent markets also the responsibility of the POTUS?