Mitt Romney still claims on his campaign website: “Since President Obama assumed office three years ago, federal spending has accelerated at a pace without precedent in recent history.” I could not let that slide, so I posted this statement from the Obama site, showing that spending has increased at a slower pace in the last three years than under any other administration since Eisenhower.
I got the usual feedback, saying that Obama’s report had been debunked. In fact, it has been well bunked. Perhaps what confuses conservatives is that the national debt is at record levels. They assume that that means we must be spending much more. Not true. Most, if not all, of the increase in debt is due to decreased tax revenue because of the recession and the Bush tax cuts (which were extended in 2010).
Now Romney wants more tax cuts and more military spending. I guess. That’s what he said, anyway. If history is any guide, Obama is the man to address balancing the budget, not any Republican.