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Obama’s Deficit Spending Used for his Reelection

Posted by Steve Markowitz on August 5, 2012

President Obama has proven to be a master at spending borrowed money.  During his first term in office he has increased the Country’s debt by over $5 trillion, more than all of his predecessors combined.  This spending promoted his vision for fundamentally changing America by significantly increasing the size, power and scope of the federal government.  However, with all of the spending the economy remains weak and we could be heading into a double-dip recession.

Obama’s deficit spending is not confined to America’s finances.  The New York Times in Record Spending by Obama’s Camp Shrinks Coffers reports that the President’s reelection campaign is using a similar spending strategy.  According to the Times, his reelection team has spent more at this point than any other incumbent running for reelection.  Through June his campaign spent $400 million.  During June alone the campaign spent over $70 million, an amount significantly higher than the dollars brought in during the month, i.e. deficit spending.

What was once a commanding dollar advantage over Romney is now a deficit.  Significantly, most polls still show the race to very close.

President Obama has used failed deficit spending to manage America’s economy.  He has not learned from the experience, using a similar spending approach for his reelection campaign.

Once again the President is proving that problems can often not be resolved by spending.  Should he lose the election, he will likely leave the Democrat Party broke.  He certainly has shown no favoritism when spending other people’s money.

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