from Dan Mitchel at his blog- International Liberty- Mirror, Mirror, on the Wall, Barack Obama (Surprisingly) Is Not the Biggest Spender of All.
It turns out that Obama supposed frugality is largely the result of how TARP is measured in the federal budget. To put it simply, TARP pushed spending up in Bush’s final fiscal year (FY2009, which began October 1, 2008) and then repayments from the banks (which count as “negative spending”) artificially reduced spending in subsequent years.
And when I removed TARP and other bailouts from the equation, Obama plummeted in the rankings. Instead of first place, he was second-to-last, beating only LBJ.
We now have the numbers for his fourth year. And if you crank through the numbers (all methodology available upon request), you find that Obama’s numbers improve substantially.
As the table illustrates, inflation-adjusted non-interest spending has grown by only 0.2 percent per year. Those are remarkably good numbers, due in large part to the fact that government spending actually fell in nominal terms last year and is expected to shrink again this year.
We haven’t seen two consecutive years of lower spending since the end of the Korean War!