There’s a graphic making its way across the Internet purporting to show that Reagan’s deficits were bigger than Obamas.
Actually, I can’t tell what the graphic is trying to portray because the resolution is so lousy but it seems to imply that Reagan grew the deficit more than Obama.
Let’s use the White House OMB numbers to tell the truth here.
If you have Microsoft Excel you can follow along!
- 1) Search for OMB on Google.
- 2) Click on Historical Tables under the sub menus there
- 3) Go down to Table 1.3—Summary of Receipts, Outlays, and Surpluses or Deficits (-) in Current Dollars, Constant (FY 2005) Dollars, and as Percentages of GDP: 1940–2016
- 4) Open the XLS file in Excel
- 5) Go to the bottom of the table and give yourself some space
- 6) Type in the following row labels: Reagan, Bush 41, Clinton, Bush 43, Obama. Put these labels as columns: Deficits, Average/yr, It should look like this:
Deficit Average / yr Reagan Bush 41 Clinton Bush 43 Obama
- 7) Next type this code at the intersection of Reagan and Deficit: =SUM(G47:G54)
(this should account for the years 1981-1988 – the years Reagan was in office. Notice we’re using column “G” which converts all the numbers to 2005 dollars)
- 8 ) For Bush 41: =SUM(G55:G58)
- 9) For Clinton: =SUM(G59:G66)
- 10) For Bush 43: =SUM(G67:G74)
- 11) For Obama: =SUM(G75:G77)
(we’ll use 2009-2011 for our purposes here)
- 12) You table should look like this:
Deficit Average / yr Reagan $(2,338.90) Bush41 $(1,319.60) Clinton $(459.40) Bush43 $(1,985.10) Obama $(3,861.10)
- 13) You should be able to figure out the Average per year column. For example: for Reagan you would divide by 8. Final results:
Deficit Average / yr Reagan $(2,338.90) $(292.36) Bush41 $(1,319.60) $(329.90) Clinton $(459.40) $(57.43) Bush43 $(1,985.10) $(248.14) Obama $(3,861.10) $(1,287.03)
Enough said. Obama is by far the biggest debt giver here.
Here’s a chart showing Receipts, Outlays and Deficits from a previous article I wrote.
Newly released information from the census shows that heads of households who have earned doctorate and professional degrees have done pretty well for themselves under Obama.
Everyone else… not so much.
I don’t know this for certain, but I think the jump can be attributed to salaries at 1600 Penn. Ave. in the brain trust. Ya’ think?
I’ve uploaded the data to Many Eyes so you can play with it yourself.
OK… that’s a headline to get you to click through but wouldn’t that be the main theme on every evening news program if this was President McCain?
How do I justify that outrageous statement?
Obama has presided over the single largest drop in income for the poorest Americans.
The census data only goes back to 1968 so I can’t tell what big drops happened before.
Take a look at the chart below. It shows the % change in lowest quintile median incomes (the poorest Americans) from 1969 – in 2010 dollars. This data is taken directly from the Census Bureau. More charts soon.
UPDATE: If the above is true then please extrapolate your own title for the following chart showing change in median income for black Americans in the lowest quintile. (You are reading that correctly, Black Americans in the lowest income quintile have suffered almost TWICE as much as the average American in the same quintile under Obama: -11.58% to -6.04%)
Last night, Obama quoted JFK in his “jobs”speech: “Our problems are man-made, therefore they may be solved by man. ” I tweeted out: “Our problems are Obama-made.” One of my liberal friends asked how I can say that!? What proof do I have? Read on…
First, let’s look at Federal receipts (income through taxes), outlays (what they spend) and deficits (what they couldn’t pay for). All of these numbers are taken from the White House’s own OMB office:
(First, notice the spike in tax receipts after the Bush tax cuts in 2003 proving once again that Reaganomics works!)
Now, examine the steep spike in outlays (spending) since 2008. Notice that it coincides with a decrease in receipts to the federal government. From a high level perspective Obama spent more than he took in. Or, to take it even further: Obama spent a LOT more and we were taking in a LOT less. How much less? About $400 billion.
In a heated debate between Byron York and Conn Carroll, Byron asserted that over half of the deficits racked up by Obama could be attributed to the economic downturn. Byron based this on a few items 1) An increase in “Income Security” outlays 2) Increased federal Medicaid spending and 3) Fewer dollars coming in. All of these items could indeed be attributed to the downturn.
But I think Byron misses the real culprit – a “sub-function” of Income Security: Unemployment Compensation
Let’s look at outlays by major spending category (the OMB calls them “functions”):
Social Security is the highest outlay every year since the early nineties (note: we need to fix that). Defense is the next biggest expense (notice the spike in spending since 2001 – duh – I’ll keep this line item growing thank you).
Other notable outlay jumps include: 550 Health, 370 Commerce and Housing Credit (think TARP, Freddie, Fannie), and 600 Income Security.
Income Security includes all federal assistance that isn’t social security. The OMB categorizes this into a handy numbering system:
- 601 General retirement and disability insurance (excluding social security)
- 602 Federal employee retirement and disability
- 603 Unemployment compensation
- 604 Housing assistance
- 605 Food and nutrition assistance
- 609 Other income security
To recap, huge uptick in “Income Security”, decent uptick in “Health”, a one-time uptick in commerce help, and sundry upticks in Education and other items.
Got it? Good. OK… let’s zoom in Income Security:
Let’s pause for a moment so I can rant out loud: what kind of crazy government do we have that requires 4 charts to understand where all our money is going!? Anyway, I digress.
There are two big outlay jumps here since 2008: 603 Unemployment Compensation and 609 Other Income Security.
The jump in 603 outlays has to do with the unprecedented unemployment benefits extensions offered by the Obama administration. Since 2008, outlays went from $45.3 Billion to $160.1 Billion! That is one massive jump and account for over 5% of the total deficit between 2008 and 2010.
609 includes numerous items (taken from ourdime.us):
- TANF is the Temporary Assistance for Needy Family program. Before 1996 this was known as “AFDC”. It’s probably the program that most people think of when they think of “Welfare”. It gives money directly to people to spend.
- SSI Disability is the collection of all SSI accounts. It is disability insurance paid to people who cannot work and have no other income
- Foster Care covers both Foster Care and Adoption services
- Child Care Enforcement is only the cost of enforcing Child Support minus the Federal Share of Child Support Collections
- The biggest expense is Tax Rebates. There are a number of tax credits mostly targeting the poor.
- Other Non-Direct Welfare are programs that help the poor, but unlike TANF they do not give money directly to its recipients.
The confusing part here is Medicaid. Byron puts Medicaid spending as a huge part of Obama’s deficits. But Medicaid is a state “program” which is given Federal matching funds. The breakdown above is by “function.” Confused? So am I.
Since it’s a program managed at the state level the Federal matching funds are spanned across several of these items. But looking deeper into a PDF from OMB I can confirm Byron’s numbers that Medicaid went from $190 Billion in 2007 to $272 Billion in 2010 but that increase about half of $160 Billion we noted above via the Unemployment Compensation.
By slicing the budget apple by category (rather than by program) we can see that the deficit pie slices into interesting bits.
From 2009 – 2010 (the years Obama was actually in office) he ran up $2.7 trillion in deficits. About $400 Billion of that was from decreased revenues (fewer taxpayers, fewer tax dollars). Now look at the breakdown of categories showing increases in spending in 2010 compared to 2008:
Boil it all down and what do you get:
- Byron is correct in asserting that a good portion of the Obama deficits came from the impact of an economic downturn.
- Conn Carroll is right that entitlement spending is impacting the deficit today (25% of the increased spending came from Medicare and Social Security).
- I’m right (patting myself on the back) that Income Security, and in particular, Unemployment Compensation is the single biggest culprit in spending increases.
Bottom line: Obama inherited a terrible recession (along with the deficits that come along with a recession) and made things worse by increasing spending in a massive way.
Here are the categories with increases (in billions of dollars) and the % increase from 2008:
Let’s do a comparison timeline to timeline on unemployment. The recession at the end of the 1970s was atrocious. I can remember waiting in gas lines with my mom as a wee lad of 8 years old. It wasn’t pretty.
Arguably, Obama “inherited” a terrible recession but the approaches he took are much different than the fixes Reagan implemented. Right around this time unemployment was dropping like a rock and the economy had all the signs of a great recovery.
A chart will illustrate this nicely. Advantage: Reagan.
More wonderful regulations and asinine busybodiness from the Federal Register:
- Everytime the Miami blue butterfly flaps its wings another American loses a job #FedFAIL http://ow.ly/5ZFAt
- Oranges and grapefruit from Texas are about to get more expensive thx to Dept. of Agriculture #fed fail http://ow.ly/5ZB7e
- What would we do w/o the Saltmarsh Topminnow? #FedFAIL http://ow.ly/5ZBeG
- Translation: Agencies push to make sure only unionized fishers can fish in Alaska #FedFAIL http://ow.ly/5ZBjx
- If you’re a fisherman be sure you don’t accidentally ensnare more than 15 swordfish #FedFAIL http://ow.ly/5ZBoY
- HHS Facebook app challenge is kind of cool. But I worry about the implications of privacy. http://ow.ly/5ZFKp
- Feds limit import of steel, optic components, transformers, and furniture from overseas. Everything gets more expensive http://ow.ly/5ZFQW
- Important: Delegation by the Asst. Sec of State for Edu. & Cultural Affrs to the Principal Deputy Assit. Sec. for Ed. & Cultural Affrs
More wonderful #FedFAIL crap from our overspending government:
- I love how federal agencies will produce paperwork to request an extension for meeting paperwork reduction goals. http://ow.ly/5YFJl
- Thank goodness we’re regulating russet potatoes so closely. I feel safer already. http://ow.ly/5YFSy
- Your tax dollars are now subsidizing “worsted wool” manufacturers. Fantastic! http://ow.ly/5YG28
- Hmm… Reclassification of medical devices by the FDA. Do you think this has anything to do with Obamacare taxes? http://ow.ly/5YOz8
- 500 single family homes being held up by the Alabama Beach Mouse and the EPA http://ow.ly/5YTgo
- Polly want another EPA regulation? 4 parrots added to the endangered species list http://ow.ly/5YTrF
- I’m worried: no entry in US for people who participate in “serious” human rights violations and “other abuses” http://ow.ly/5YUN3
- And… we’re still subsidizing more housing grants. http://ow.ly/5YVDv
- “Etheostoma susanae” aka the Cumberland darter is now off limits. Be warned MS and AL http://ow.ly/5YVIF
- EPA still mandating that cars get 54.5 mpg by 2025 – right. http://ow.ly/5YVUw
Don’t worry – this isn’t another post on the controversy behind WhiteHouse.com. This week, Data.gov published all of the Internet domain names owned by the Executive Branch. Across all the agencies there are over 1700 domain names. In truth, I expected more but let’s look at the top registrars by agency and then delve into some of the more interesting websites owned by you the American people via the White House.
Number of domain names by Executive Branch Agency:
The General Services Administration takes the lead with Treasury close behind.
Here are some of the more interesting domains I found:
- safesleep.com – Owned by the Consumer Product Safety Commission – sadly, nothing comes up. It appears to be sleeping – safely.
- chewsmyplace.gov – This website owned by the Department of Agriculture weirded me out when I saw the domain name. It appears that it’s a clever pun on the actual site: choosemyplate.gov. Frankly, I’ve never been sold on the government telling me what I should and shouldn’t eat.
- www.reaganlibrary.gov – This I didn’t know. Apparently, the executive branch owns the domain names for all of the Presidential libraries
- www.retireez.gov - Looking to retire? Sadly, there is nothing here – just like in your retirement account thanks to Obama and the recession.
- spaceweather.gov – This is owned by the Department of Commerce for the NOAA. It’s not as awesome as it sounds.
- usaperformance.gov – The General Services Administration (our top domain owner) registered this site. Sadly, it tells me: “Authorzation Required” – I guess the US can’t perform without permission from the President
- foodapedia.gov – I’m going to have look up the history of this decrepit site. It looks like it was meant to be some type of wiki on food. It is virtually non-functional.
- regulation.gov – Nothing at this domain name but can you guess who owns it? Guess. I dare you… yep. The EPA
- firstlady.gov – No awesome shots of 1500 calorie meals here while lecturing the rest of us how to eat.
- deathmasterfile.gov – 404 on this too. I’m not sure what this is and I’m not sure I want to know. Owned by the Dept. of Commerce
Feel free to scour the list and see what you find.