Rex Nutting of MarketWatch posted this very interesting debunking of a persistent right wing myth: Obama Spending Binge Never Happened.

Here are the facts, according to the official government statistics:

� In the 2009 fiscal year — the last of George W. Bush’s presidency — federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion. Check the official numbers at the Office of Management and Budget.

� In fiscal 2010 — the first budget under Obama — spending fell 1.8% to $3.46 trillion.

� In fiscal 2011, spending rose 4.3% to $3.60 trillion.

� In fiscal 2012, spending is set to rise 0.7% to $3.63 trillion, according to the Congressional Budget Office’s estimate of the budget that was agreed to last August.

� Finally in fiscal 2013 — the final budget of Obama’s term — spending is scheduled to fall 1.3% to $3.58 trillion. Read the CBO’s latest budget outlook.

Over Obama’s four budget years, federal spending is on track to rise from $3.52 trillion to $3.58 trillion, an annualized increase of just 0.4%.

There has been no huge increase in spending under the current president, despite what you hear.