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Obama 1st U.S. President To Spend $4 Trillion In A Single Year

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Unread 04.10.13, 03:05 PM
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Obama 1st U.S. President To Spend $4 Trillion In A Single Year

04.10.13 01:15 PM

In conjunction with President Barack Obamaís long-awaited Federal budget request Wednesday, the White House Office of Management and Budget (OMB) released projections that show the President is on track to be the first in the Nationís history to surpass $4 trillion in spending in the span of a single year.

Although not adjusted for inflation, it doesnít take complicated formulas to understand the difference between the $450 billion deficit Obama inherited upon taking office in 2008 and the $972 billion deficit the OMB projects this year — down from a high of $1.4 trillion high in 2009.

The OMB expects 2016 to be the year when the Presidentís spending plan will exceed the $ trillion mark.

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