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(Examiner) As reported Saturday by the Associated Press, President Barack Obama's re-election campaign spent more than it collected in June.
“Competing fiercely to keep the presidency, Obama reported more than $46 million in June and total spending of $58 million.”
That’s a deficit of $12 million.
Clearly, when it comes to managing a budget, Obama is absolutely clueless.
Even with a cursory view of his spending habits – as president, and as an incumbent running for reelection -- a consistent pattern of horrific waste emerges.
In March, The Heritage Foundation revealed that the United States government had taken in $2.25 trillion in tax revenue for 2012. They spent $3.6 trillion.
The estimated spending deficit for 2012 now stands at $1.8 trillion.
“While federal revenues are recovering from the recent recession, spending is growing sharply, resulting in four consecutive years of deficits exceeding $1 trillion.”
That same month, CBS News reported that the National Debt increased more during the first three years and two months of Obama’s first term in office than it did during the entire eight years of the George W. Bush presidency.
As reported Wednesday by Examiner.com, Obama wasted billions of taxpayer dollars in the bailout of failing energy companies and the auto industry. His administration also spent much of the $831 billion stimulus to fund projects and jobs overseas.
For his reelection, The Denver Post revealed that Obama has spent $100 million on television ads, three quarters of which were wasted on attacks against his challenger, Mitt Romney.
Also reported Tuesday by Examiner.com, not only have these attack ads been repeatedly debunked by numerous news outlets and fact checkers, polling shows the ads aren’t working.
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