PROMISE: In 2008, Obama Promised A “Net Spending Cut” To The Federal Budget By Going “Through The Federal Budget Line By Line, Page By Page.” OBAMA: “But there is no doubt that we’ve been living beyond our means and we’re going to have to make some adjustments. Now, what I’ve done throughout this campaign is to propose a net spending cut.” (Third Presidential Debate, Hempstead, NY, 10/15/08)

OBAMA: “We need to eliminate a whole host of programs that don’t work.And I want to go through the federal budget line by line, page by page, programs that don’t work, we should cut.” ( Third Presidential Debate, Hempstead, NY, 10/15/08) 

BROKEN: Federal Outlays Have Increased By 20.4 Percent Since Obama Took Office. The federal government spent $3.1 trillion in FY2008 in inflation adjusted dollars. Under Obama, in FY2012 the federal government spent $3.8 trillion dollars.(“Table 1.3 - Summary Of Receipts, Outlays And Surpluses Or Deficits In Current Dollars, Constant (FY2005) Dollars, And As Percentages Of GDP: 1940-2016,” Office Of Management And Budget, Accessed 5/16/12; “Budget Of The United States Government, Fiscal Year 2013,” Office Of Management And Budget, 2/13/12)