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Shaky Ground: When It Comes To Fiscal Discipline, Obama Doesn’t Have A Leg To Stand On

Shaky Ground: When It Comes To Fiscal Discipline, Obama Doesn’t Have A Leg To Stand On

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July 7, 2011

Shaky Ground
When It Comes To Fiscal Discipline, Obama Doesn’t Have A Leg To Stand On
______________________________________________________________________

“President Obama Called Congressional Leaders To The White House On Thursday For Another Round Of Negotiations On The Debt Limit …” (Michael A. Memoli, “Obama Calls Lawmakers To White House
For Debt-Limit Talks,” Los Angeles Times, 7/5/11)

OBAMA’S RECORD ON THE BUDGET BY THE NUMBERS
$45.9 Trillion: Total Federal Spending Prop
July 7, 2011

Shaky Ground
When It Comes To Fiscal Discipline, Obama Doesn’t Have A Leg To Stand On
______________________________________________________________________

“President Obama Called Congressional Leaders To The White House On Thursday For Another Round Of Negotiations On The Debt Limit …” (Michael A. Memoli, “Obama Calls Lawmakers To White House
For Debt-Limit Talks,” Los Angeles Times, 7/5/11)

OBAMA’S RECORD ON THE BUDGET BY THE NUMBERS
$45.9 Trillion: Total Federal Spending Prop

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Published by: Republican National Committee on Jul 11, 2011
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Paid for by the Republican National Committee.310 First Street SE - Washington, D.C. 20003 - (202) 863-8500 - www.gop.comNot authorized by any candidate or
candidate’s committee.
 
July 7, 2011
Shaky Ground
When It Comes To Fiscal Discipline,
Obama Doesn’t 
Have A Leg To Stand On
______________________________________________________________________
“ 
President Obama Called Congressional Leaders To TheWhite HouseOn Thursday For  Another Round Of Negotiations On The Debt Limit 
…” 
(Michael A. Memoli
, “Obama Calls Lawmakers To White House
For Debt-
Limit Talks,” 
,7/5/11)
 
OBAMA’S RECORD ON THE BUDGET BY THE NUMBERS
 
$45.9 Trillion:
 
Total Federal Spending Proposed By Obama’s FY2012 Budget Through 2021.
(OMB,2/14/11)
 $26.3 Trillion:
 
Projected Federal Debt In 2020 Due To Obama’s Binge
Spending.
 
,2/14/11)
 
$14.3 Trillion:
 
Current National Debt.
$10.9 Trillion:
 
 Amount The Total Gross Federal Debt Will Increase By FY2021 According To
Obama’s FY2012 Budget.
 
,2/14/11)
$9.5 Trillion:
 
Cumulative Deficits Caused By President Obama’s Proposed Budget, FY20
12-2021.
(CBO,April 2011)
$6.0 Trillion:
 
Total Interest Payments On The National Debt, FY2012-2021.
(CBO,April 2011)
$3.7 Trillion:
 
 Amount Added To The National Debt Since Obama Took Office.
 
$1.65 Trillion:Projected Federal Deficit For FY2011
Will Be The Largest In U.S. History.
(OMB,2/14/11)
 $1.42 Trillion:Federal Budget Deficit For FY2009
Highest In U.S. History.
 
,10/7/10)
 $1.29 Trillion:Federal Budget Deficit For FY2010
Second Highest In U.S. History.
(CBO,10/7/10)
 
$1.15 Trillion: American Debt Held By China.
 
$931 Billion:Net Interest Payment On Our National Debt In 2021
Due To Obama’s
Budget.
(CBO,April 2011)
 $11,300:Negative Effect Of Debt On Gross National Product Per Person In 2035.
(CBO,  6/22/11)
 2060:
 
Year Federal Spending Will Reach 50 Percent Of GDP.
(CBO,6/22/11)
 
 
 
Paid for by the Republican National Committee.310 First Street SE - Washington, D.C. 20003 - (202) 863-8500 - www.gop.comNot authorized by any candidate or candidate
s committee.
2
 
2037:
 
Year That Federal Debt Will Reach 200 Percent Of GDP.
(CBO,6/22/11)
2036:Year That The Social Security Trust Fund Will Be Exhausted.
 
,5/10/11)
 2020:
Year That The CBO Predicts Medicare’s Trust Fund Will Be Exhausted.
(CBO,3/18/11)
 101%:
 
Federal Debt Held By The Public As Share Of GDP In 2021.
(CBO,6/22/11)
 69%:
 
Federal Debt Held By The Public As Share Of GDP By End Of The Year.
(CBO,6/22/11)
60%:
Voters Who Disapprove Of Obama’s Handling Of The Deficit.
 
,6/15-6/23/11)
 25.9%:Federal Spending As A Share Of GDP By 2021.
(CBO,6/22/11)
 18%:
 Amount GNP Would Be Lowered Due To Debt’s Effect On Economic Growth By
2035.
(CBO,6/22/11)
 17%:Cut To Medicare Benefits When Trust Fund Is Exhausted.
 0:
Votes Obama’s Budget Received In The Senate.
(
,5/25/11)
OBAMA HAS FAILED TO FOLLOW THROUGHON HIS BUDGET PROMISES
Obama Promised To Cut The Deficit In Half 
 , He Hasn’t 
 
PROMISE: 
In February 2009, Obama Said That He Would “Cut The Deficit In Half By The End Of [His]First Term In Office.”
“Yesterday, I held a fiscal summit where I pledged to cut the
deficit in half by the end
of my first term in office.”
(President Barack Obama, 
,2/24/09)
BROKEN:
 
Obama Has Racked Up Three Record Trillion Dollar Deficits.
“The federal budget deficit is on
pace to break the $1 trillion mark for a third straight year. Record deficits are putting pressure on Congressand the Obama
administration to come up with a plan to rein in government spending. … Three years ago
that would have ranked as the highest ever for a full year. Instead, this year's deficit will likely exceed last year's $1.29 trillion imbalance and nearly match the $1.41 trillion record reached in 2009. The budget year
ends on Sept. 30.”
(Martin Crutsinger,
“Federal Budget Deficit On Pace To Break $ Trillion For Third Straight Year,” 
,6/10/11)
 
The Deficit This Year Is Slated To Reach A Historically High $1.65 Trillion.
 
(Fiscal Year 2012 Budget Of The U.S.Government ,Office Of Management And Budget ,2/14/11)
Obama Promised To Go Through The Budget Line-By-
Line, He Hasn’t 
 
PROMISE:In 2008,
Obama Promised To Go Through The Budget “Line By Line
, Eliminating ProgramsThat No Longer Work And Making The Ones We Do Need Work Bette
r.”
“But I will also go through the
federal budget, line by line, eliminating programs that no longer work and making the ones we do needwork better and cost less
because we cannot meet twenty-first century challenges with a twentieth
century bureaucracy.”
 
,8/28/08)
 BROKEN: 
CBO Director Douglas Elmendorf Says Obama’s Latest Budget Is Too Vague To Be Scored.
REP. PAUL RY
AN: “The president gave a speech on April 13
th
, where he outlined a new budget framework that claims $4 trillion in deficit reduction over 12 years, have you estimated the budget impact of this

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