Dec 26, 2009

Bush's Final Report Card: Biggest Spender Since LBJ

Fair and balanced analysis from Cato Institute. Republicans need to confess this if they expect to have any credibility in criticizing Obama's liberal spending. The American people are sick of bi-partisan lying and hypocritical finger-pointing

Obama's first report card, where all spending is under his watch, will not be available until next year, 2010 (which should be a doozy too).

President George W. Bush’s last year was fiscal 2009. Outlays that year were $3.522 trillion, according to the CBO. However, $108 billion was spending for the 2009 economic stimulus package passed under President Obama.Bush was thus roughly responsible for $3.414 trillion of spending in 2009, which includes outlays for the financial bailouts enacted under his watch.

George W. Bush: Biggest Spender Since LBJ

Figure 1 shows the average increase in total spending under recent presidents. Bush II was the biggest spender since LBJ. His spending increases were far larger than the three prior presidents.
Of course, presidents share spending power with Congress and it is easier for presidents to control discretionary spending than entitlement spending. Nonetheless, the results in these charts reflect the general spending approach taken by the presidents quite well.
Figure 2 shows total federal spending without interest payments. Presidents have the least discretionary control over interest. The biggest spenders by this measure were again LBJ and Bush II.
The Congressional Budget Office has released final budget numbers for fiscal year 2009. The numbers allow us to take a last look at the Bush administration’s record on spending from a statistical point of view.
he presided over an 83-percent increase in overall federal spending