WASHINGTON - It should be well known by now that President Obama holds the all-time, blockbuster records on federal spending, budget deficits and debt.
In less than four years, the cost of the government's annual budget has soared to nearly $4 trillion, exceeding the Treasury's tax revenue by well over a trillion dollars a year. The result: four consecutive years of trillion dollar-plus deficits have piled $5 trillion onto the nation's debt. That debt is now at $16 trillion and climbing.
No other president in U.S. history has spent as much or run up budget deficits as large. No president has plunged our country into as much debt, which threatens to engulf our fragile economy and its future solvency.
But did you know a large chunk of this spending is being doled out by Obama to buy his way into a second term? Did you know the White House has been tapping into the federal spending pipeline -- as if it was his own campaign checkbook -- handing out your money in key battleground states that will decide this election?
No, make that buy this election.
One of the biggest beneficiaries of Obama's largesse is Ohio, a pivotal electoral prize that will likely decide who the next president will be. Obama is running ahead there right now, but he was targeting this state many months ago with generous budget handouts that are now being promoted at re-election time. He's calling in his chips.
Last March, Obama pledged to establish up to 15 major manufacturing centers across the country. Not surprisingly, the first place to receive a federal grant and tax giveaways was Ohio -- a state that his campaign made his No. 1 re-election buying target.
"When the Obama administration awarded tax credits to promote clean energy, the $125 million taken home by Ohio companies was nearly four times the average that went to other states," the Washington Post reported this week.
"And when a Cleveland dairy owner wanted to make more ricotta cheese, he won what was then the largest loan in the history of the Small Business Administration," the Post said.
There is something very wrong about the spectacle of the president doling out tax dollars to special interests to benefit his campaign. Your tax dollars. Money that may have made a difference in the lives of tens of millions of Americans, if they had been allowed to keep more of it to pay their mortgage or send their kids to college, or just to put food on the table.
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