Bamboozling folks? Even the left-leaning Politifact labelled him the “undisputed debt king” of the last five presidents.

COLORADO SPRINGS, Colo. — At a fundraiser for his re-election campaign in Denver tonight, President Obama set out to upend conventional Republican wisdom that his administration has been defined by excessive government spending.

“I’m running to pay down our debt in a way that’s balanced and responsible. After inheriting a $1 trillion deficit, I signed $2 trillion of spending cuts into law,” he told a crowd of donors at the Hyatt Regency. “My opponent won’t admit it, but it’s starting to appear in places, like real liberal outlets, like the Wall Street Journal: Since I’ve been president, federal spending has risen at the lowest pace in nearly 60 years. Think about that.”

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