An article entitled “The Spending Explosion”, from yesterday’s Wall Street Journal, has an interesting chart showing federal spending growth, 2001-2008, in inflation-adjusted dollars.
2 thoughts on “Federal spending, 2001-2008”
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A posting every day; an interesting idea every three months…
An article entitled “The Spending Explosion”, from yesterday’s Wall Street Journal, has an interesting chart showing federal spending growth, 2001-2008, in inflation-adjusted dollars.
Comments are closed.
I think it’s interesting in the chart they show growth percentage of Community Development at 91%, much higher than any of the others, but they don’t show the actual dollar values themselves.
As they state later on, defense spending is 4.5% of GDP, but they don’t mention the percentage of “Community Development”.
the 2009 budget represents the most money spent on defense since the end of WWII adjusted for inflation. They also don’t mention that other countries like Germany and Britain far less as a percentage of their GDP at 1.5% and 2.4% respectively.
While the article covers a 7 year period, they are quick to blame democrats for the big spending, without breaking out the growth differences before and after the democratic congress and senate.
They mention that spending on tax cuts and spending on the war aren’t the problem, and then go on to say the real problem is… a substantial increase in spending!
They blow of the deficit by saying it’s only 3% of GDP without mentioning that it’s almost tripled since 2007.
After reading the report, it’s clearly stated what the problem is. Taxes are just too low to pay for the medical costs of aging boomers. Funny that’s nowhere to be seen in the WSJ article.