Treasury Secretary Timothy Geithner made a false claim about the size of government spending being proposed by the Obama administration.
On NBC’s “Meet the Press” July 25, he said the president is proposing spending “as a share of our economy” that is “lower” than it was during the Bush administration and “comparable” to what it was under Ronald Reagan. Neither claim is true.
The administration’s own estimates project spending next year that is higher as a percentage of the economy than in any year since the end of World War II. The average projected by Obama’s budget officials is significantly higher than the average under Reagan or Bush (father or son).
POSTSCRIPT: I would add that the 2009 budget, which they charge to President Bush, was actually prepared by President Obama.
UPDATE: I would also add that the last two years, in which the budget starts to fall, are the hypothetical estimates of years that are at least a year away. Older estimates had the deficit falling in 2010 and 2011 as well, but those estimates fell by the wayside by the time those years actually happened.