Fact Checking: ‘We Have To Live Within Our Means?’

According To The President, A $1 Trillion Stimulus Boondoggle And A Budget That Grows Debt To Over $20 Trillion Are ‘Living Within Our Means’

Don't worry Stevie. We are
Just Living Within Our Means
On The Taxpayers Money!

PRESIDENT OBAMA TODAY: “We Have To Live Within Our Means...” (President Obama, Remarks At George Washington University, 4/13/11)

President Obama During Stimulus Roll Out: ‘We’ve Got To Get Serious About Starting To Live Within Our Means’
PRESIDENT OBAMA IN 2009: “[W]e've Got To Get Serious About Starting To Live Within Our Means, instead of leaving debt for our children and our grandchildren and our great-grandchildren. That's not the responsible way.” (President Obama, Remarks At A Caterpillar Plant, 2/12/09)

STIMULUS PACKAGE: Added $814 Billion To The Debt
CBO ON STIMULUS COST: “When ARRA Was Being Considered, The Congressional Budget Office (CBO) And The Staff Of The Joint Committee On Taxation Estimated That It Would Increase Budget Deficits By $787 Billion Between Fiscal Years 2009 And 2019. CBO Now Estimates That The Total Impact Over The 2009–2019 Period Will Amount To $814 Billion.” (“Estimated Impact of the American Recovery and Reinvestment Act on Employment and Economic Output From July 2010 Through September 2010,” Congressional Budget Office, 11/10)

President Obama During Budget Roll Out: ‘We’re Living Within Our Means’
PRESIDENT OBAMA: “We’re Going To Have To Get Serious About Cutting Back On Those Things That Would Be Nice To Have But We Can Do Without. That’s What Families Across The Country Do Every Day – They Live Within Their Means.” (President Obama, Remarks On Unveiling Of The Budget, 2/14/11)

PRESIDENT OBAMA: “[T]he Most Important Thing I Can Do As President Is Make Sure That We’re Living Within Our Means, Getting A Budget That Is Sustainable…” (President Obama, Press Conference, 2/15/11)

WHITE HOUSE BUDGET: Grows Debt To Over $20 Trillion Within 5 Years

Table S-14. Federal Government Financing And Debt; Total, Gross Federal Debt
Actual 2010:                  13,529 [Billion Dollars]
2011 Estimate:               15,476 [Billion Dollars]
2012 Estimate:              16,654 [Billion Dollars]
2013 Estimate:               17,750 [Billion Dollars]
2014 Estimate:               18,761 [Billion Dollars]
2015 Estimate:               19,776 [Billion Dollars]
2016 Estimate:               20,825 [Billion Dollars]
2017 Estimate:               21,867 [Billion Dollars]
2018 Estimate:               22,924 [Billion Dollars]
2019 Estimate:               24,023 [Billion Dollars]
2020 Estimate:               25,165 [Billion Dollars]
2021 Estimate:               26,346 [Billion Dollars]
(Fiscal Year 2012 Budget Of The U.S. Government Summary Tables, The White House, 2/14/10, P.203)
TREASURY SECRETARY GEITHNER: “Absolutely, It Is An Excessively High Interest Burden, It’s Unsustainable.” (U.S. Senate, Budget Committee, Hearing, 2/17/11)

FEDERAL RESERVE CHAIRMAN BEN BERNANKE: “If Government Debt And Deficits Were Actually To Grow At The Pace Envisioned, The Economic And Financial Effects Would Be Severe.” (“Geithner Tells Obama Debt Expense To Rise To Record,” Bloomberg, 2/14/11)

ERSKINE BOWLES, Democratic Chairman Of The Fiscal Commission: “The White House Budget Request Goes ‘Nowhere Near Where They Will Have To Go To Resolve Our Fiscal Nightmare.’” (“Obama Spending Plan Criticized For Avoiding Deficit Commission's Major Proposals,” The Washington Post, 2/14/11)

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