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WSJ Senior Economics Writer Stephen Moore on the federal government’s spending under the President.
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President Obama today saying don't blame him for the spending he's just cleaning up the republicans' mess.
Joining me now on this Wall Street Journal senior economics writer Stephen Moore Stephen welcome back to show as always -- Great to CEO I wouldn't -- latest -- -- -- actually hear what he had to say and then get you to comment here's the president.
Federal spending has risen at the lowest pace in nearly sixty years.
That -- other side I don't know how they've been Bamba when folks in the thinking that they hardly responsible.
Fiscally disciplined party.
-- run up these wildcats.
And that will only take over we -- clean up.
Right -- what do you make of that.
By you know there's an old saying Jerry and economics that if you tortured data enough it'll contrast -- and I think that's what happens.
-- torture that -- one way or the other to come up with this conclusion -- I've been trying to go through that.
Study that they put out to try to figure out how could they come up with these amazing numbers.
I'm not fully.
Hey I'm still not very out in terms of where those numbers came from but I doubt I'll tell you some of the things they did -- Jerry.
What gives you know the biggest spending item the -- -- -- as -- first Frears and office was the 830 billion dollar stimulus bill.
This analysis doesn't include much.
All of this says that that happened under president -- bush so we're not a given -- include different.
That -- makes a big numbers -- not.
And that of course it Robert some of the other things that happen in 2009 that pres Obama spent money the first -- -- signed all the appropriations bills at the start of his presidency.
Then he -- -- cash for clunkers that we have the auto bailout bill we have mortgage modification programs.
These things all happen in 2009 this analysis.
And for the most part not entirely but for the most part excludes that's funny so you have the giant increase in spending happened 2009 is that well let's just look what happened 2000 -- eleven and twelve.
What actually spending has been relatively.
Flat but is that big first -- spending that's not included.
-- so we're looking at a full screen right now such as national debt under Obama it's up 40% come down.
Like this is did this is -- you know these anomalies that everybody uses I mean it that obvious skating how would you characterize the -- They're telling the story here.
First of all this is the statistic that he just cannot get around a matter how much you track is the torture -- -- the data.
You're right that Dover president Obama's forty years and office the national debt has gone up.
By five trillion dollars that's more money jury then the United States government -- from 1776.
Through 2000 so that's an enormous amount of new debt.
That has been -- -- the equation there's something else that hasn't been out of the equation here -- that's an enormous.
Budget buster which is Obama care.
Now obamacare was passed in 2000 talent but as you know that lot of us are really start taking a back -- -- 2013 or fourteen that will be a trillion and half dollar.
Increase in spending over the next ten years it's not even included in this analysis.
Unbelievable to know stimulus spending.
No Obama care.
A myriad of programs to help housing in -- move cars none of that in this then.
-- registration or just to be very precise about saying not a that is included but a lot of it was excluded -- a lot of it was it was accounted as bush spending not Obama's -- now look.
I do agree with pres Obama bush George Bush was a pretty big president's spending president -- Jerry there's no question about that so you -- big increases and spending at 2007 and eight.
And Obama came in and out of all this additional spending so I -- -- say a pox on both of their houses they're both well respectable for this enormous done -- -- That the Republicans do have an ability to spend a penny or two that's for darn -- and sometimes we just don't know where that money goes right.
