Politics and Money

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Obomba, the great and powerful......spender.

Federal spending was up $30.5 billion in the first five months of fiscal 2013 compared to the first five months of fiscal 2012, according to newly released data from the U.S. Treasury.

Through all of fiscal 2008, before Obama took office, the federal government spent a total 2,978,440,000,000.00. Adjusted for inflation, that equals $3,211,717,910,000.00 in 2013 dollars. So, were the government to continue on its pace to spend $3,610,912,800,000.00 this year, then real federal spending in fiscal 2013 would be $399,194,890,000.00 more than it was in the last full fiscal year before Obama became president.

Congress would need to cut $399 billion this year to bring inflation-adjusted federal spending back to the level it was before Obama.

According to the CBO, the sequester that has now taken effect will cut only $44 billion from the money that was expected to be spent through the remainder of this fiscal year.

http://cnsnews.com/news/article/305b-federal-spending-not-down-first-5-months-fy13