President Barack Obama on Wednesday staked his claim to being the most effective fiscal conservative to serve in the White House in more than half a century.
“Since I’ve been president, federal spending has risen at the lowest pace in nearly 60 years,” Obama said at a campaign event in Denver, Colorado.
“Yes, we’re going to streamline government,” Obama said. “There’s more waste to be cut.”
Inaugurated on Jan. 20, 2009, Obama has now presided over the start of three fiscal years—2010, 2011, and 2012. According to the historical tables published by his own Office of Management and Budget, these are three of the only four fiscal years since the Japanese surrendered on Sept. 2, 1945, that the federal government has spent more than 24 percent of GDP.
The fourth fiscal year since the end of World War II in which the federal government spent more than 24 percent of GDP was 2009. That fiscal year started when George W. Bush was president and ended when Obama was president.