In fact, it’s because of the unique nature of TARP and the Fannie/Freddie bailouts that the CBO counted them separately in its Monthly Budget Review reports (http://cbo.gov/sites/default/files/cbofiles/attachments/2011_Nov_MBR. pdf) — something Nutting apparently never bothered to check when putting together his bogus chart.
Just how much of a difference does this make?
Nutting says spending under Bush shot up 17.9% between 2008 and 2009.
But when you subtract the effects of TARP, the Fannie/Freddie bailouts as well as the $115 billion in stimulus money Obama added in 2009, that figure drops to 6%.