Under President Obama’s Spending “Freeze,” The Debt Will Grow $4 Trillion In 5 Years

  • The president’s “freeze” would continue dramatically increased spending levels at a time when we have a $1.5 trillion deficit, producing an estimated $3.8 trillion in accumulated deficits over the next 5 years.[1] It maintains inflated levels of non-defense discretionary spending while allowing for ongoing increases in the rest of the budget.
  • The “freeze” pushes us down the path to a total debt[2] of $21.2 trillion by 2016—well over 100 percent of GDP.
  • The levels locked in by the “freeze” follow the President’s 23 percent increase in total federal spending.[3]
  • At the end of 2008, debt held by the public was $5.8 trillion.  President Obama’s spending “freeze” keeps us on track to double the debt by 2012 and triple it by 2018.
  • President Obama’s plan spends $153 billion more on non-security discretionary spending than even his own Fiscal Commission proposes during the five-year window.

President Obama’s spending “freeze” is really just a spending spree.

[1] President Obama has not yet released his FY12 budget; this estimate is based on spending and revenue figures for FY2012-2016 found in his FY11 Budget.

[2] Gross federal debt.

[3] Total outlays, 2008–2011.