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.
Obama has also wasted millions on public opinion polling.
The Weekly Standard reported Saturday that disclosure forms -- filed by Obama for America -- show that the president's reelection team spent a whopping $2,639,265.72 on polling in the month of June alone. That doesn’t include money contributed for polling by the Democratic Party.
However, consistent with Obama’s 2008 statement that “when you spread the wealth around, it’s good for everybody,” previous polling expenditures hint that most of the money spent on polling in June came from the Democratic National Committee (DNC) – not from the president's own Obama for America (OFA) campaign coffers.
For the month of May, the DNC and OFA spent a combined total of $2,105,107.93 on polling. Most of that -- $1,627,107.93 -- came from the Democratic Party. The Obama campaign only chipped in $478,000.
In April, the DNC and OFA spent $456,083.01 on polling. Again, while the DNC coughed up the majority of the cash -- $438,083.01 – Obama's reelection campaign tossed in a paltry $18,000.
In the end, after shooting a staggering $5,200,456.76 worth of polling arrows in three months -- “to make sure the candidate's message is in sync with what the voters want to hear” -- Team Obama seems to have seriously missed the mark.
As reported Thursday by Examiner.com -- when it comes to sentiments on job creation, the economy, bailouts and his administration’s decision to issue waivers for the federal work requirement of the Temporary Assistance for Needy Families program -- the results of several national polls show a complete disconnect between Obama and an overwhelming majority of Americans.
Obama also spent more money than he brought in during the month of May.
As reported by USA Today, Obama's raised $39.1 million in May.
As confirmed Saturday by The Los Angeles Times, Obama’s reelection committee spent $45 million.
That’s a deficit of $6 million.
But that total doesn’t even include the $92,751.50 Team Obama spent for the president to deliver his “official” May 5 campaign kick-off speech to 14,000 people -- and 6,000 empty seats -- at the Ohio State University's Jerome Schottenstein Center, and that total doesn’t include other costs associated with the event; only the cost of renting the arena.
Curiously, as exposed Saturday by The Weekly Standard, the disclosure for the May Schottenstein Center rental appears on records for the campaign's June spending.
Evidently, that Team Obama waited to report the $92,751.50 spent in May until June – touted by his campaign as being their “best fundraising month yet” -- the president also likes to “spread” disclosure of his deficit spending around too.
"We can’t afford to spend the next four years going back," Obama said during his speech at the Schottenstein Center. "We have come too far to abandon the change we fought for these last few years."
Considering Obama’s consistently reckless spending habits over the last four years, we clearly can’t afford to go “forward” with his expensive agenda either.
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