Nice comparison chart put together by AttackWatch that shows average annual spending. It's currently the lowest in the post WWII period. No wonder why we're stagnating. Hey all you, "government get out of the way so the private sector can boom," people...what's your explanation for this, huh???
9 comments:
What a dope!
He considers this an accomplishment.
A really weak leader so far - no coherent economic vision of the future, kneejerk neoliberal impulses, terrified servant of ruling elites, all reinforced by an awful team around him.
What's sad is that the folks on the Obama team think that pointing to a pro-cyclical, job-killing spending collapse is a way to defend the White House.
We live in a madhouse.
One thing that the Obama admin has experieinced is that I believe for 2 years of his Admin, Social Security has not had a COLA for 2 consecutive years.
COLAs of 0.0% for 2 years in a row.
This probably has never happened before and I'm sure affects these numbers.
Resp,
You're right, Matt.
Remembering the fact that Eisenhower was still on a partial gold standard (and eliminating him from the list), it's not surprising who's in 2nd place - Mr Balanced Budget!
Interesting where Carter falls. I had had the perception that he was the first of the post-war D's to embrace fiscal rectitude, and that starting with Reagan the R's tried to take over the "Santa Claus" role. That narrative does more or less hold with Obama and Clinton and their Republican counterparts.
Not spending--spending growth.
AFAIK, spending as % of GDP has never been higher in the history of the US, except during WWII.
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