Nov 17, 2012 10:40 AM
Bush - last year spending. FY2009 (Oct 08-Sept 09)
Obama - first year spending. FY2010 (Oct 09-Sept 10)
All numbers in billions of dollars.
--------------Bush----Obama
Budget-----3100-------3500
Stimulus----152---------257
TARP---------700
AIG------------150
Auto Bailout---13---------36
Omnibus------------------410
War suppl(1)-162
War suppl(2)-106
TOTAL--------4383-----4203
Martin Feldstein was quoted, "FY2010 will be Obama's first year. That is his first budget. FY2009 was Bush's budget. Even a 5th grader can see that revenues will go down due to the recession, so deficit spending almost has to take place during these times."