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The Bush/Obama $4.4 trillion spending boom



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From today's WSJ:


CBO's mid-year review largely reinforces the bad news we already knew—to wit, that spending has exploded since Democrats took over Congress in 2007, first with the acquiescence of George W. Bush and then into hyperdrive after Mr. Obama entered the White House.
To appreciate the magnitude of this spending blowout, compare CBO's budget "baseline" estimate in January 2008 with the baseline it released Thursday. The baseline predicts future spending based on the law at the time. As the nearby chart shows, in a mere 31 months Congress has added more than $4.4 trillion to the 10-year spending baseline. The 2008 and 2009 numbers are actual spending, the others are estimates. As recently as 2005, totalfederal spending was only $2.47 trillion.

This is the biggest problem facing our economy today: the huge and escalating increase in the size of government intervention in the economy. This is unsustainable, and I predict will not be sustained. The voters are sick and tired of this; the public sector at all levels of the economy is getting out of control, and it must be reined it. Stop the spending!!

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