Friday, April 29, 2011
Government spending highest under Reagan
Here’s an interesting chart I put together from data taken from the Bureau of Economic Analysis.
It shows the quarter-over-quarter average percentage increase in government spending under presidents Reagan through Obama. As you can see, average levels of government spending were highest under Reagan, by a huge margin. We had a boom back then. Next was Bush, then Clinton, then Bush I and last, but not least, was Obama. Average quarterly increases in gov’t spending under Obama have been a miserly 0.7%. This data belies the claim that spending has surged. The nominal amounts are large, yes, but the percentage increases have been very modest. In contrast, Reagan put the pedal to the metal.
Average quarter-over-quarter percentage gain in government spending
Bush I 1.4
Bush II 2.1