Tuesday, 05 June 2012 04:04

Federal Spending Now at a 65-Year High 24% of GNP

Dear Concerned Citizens:

It's my view that federal spending at 18% of GNP is too high. For those of you who recall, that's what we were spending during the Cold War. When the Marxist Wall came crashing down in 1989, spending was supposed to come down. Under George "Papa" Bush it instead rose.

Now, we have Obama, the all-time big-post-WWII spender, who, if you listen to what he's saying, if elected to another term will spend even more than he did in his first term. Most of the monies he's splashed out over the world have gone to local and state governments, making them bigger and more powerful, and must we not forget the $2 billion to Brazil to help that nation with their offshore drilling. That certainly helped the US economy.

You should notice, too, that all the spending under Obama and Carter did not help the economy. Don't forget that Obama & Co. (especially Paul Krugman) claim that Obama's call for "stimulus spending" of what has amounted to over a trillion dollars in a little over three years was not enough; they've even hinted at spending more to "stimulate the economy." That's what leftists like the Bushes and Obama do: they spend and build the government. Clinton started out increasing spending, but got shut down after Hillarycare came crashing down and his own Congress wouldn't work with him to give him the funds he asked for.

Look how much of the "stimulus funds" went to building the government, to make it more powerful. Does adding 25,000 new IRS agents and oodles of new bureaucraces and Czars help the economy? Bah!!

Berry Jingles

 

President Obama Has Federal Spending up to 24% of GNP

By Elizabeth Flock 

June 1, 2012 

President Obama has shelled out more in federal spending than the five presidents that came before him.

A new chart by the Comeback America Initiative (CAI), a non-partisan group dedicated to promoting fiscal responsibility by policymakers, shows federal spending by president as a percentage of GNP, and it doesn't reflect well on Obama.

"There has been a dramatic increase in spending under the Obama administration," David Walker, Founder and CEO of CAI, told Whispers. "Most of it is attributable to year one of his presidency and the stimulus... but President Obama has continued to take spending to a new level."

Federal spending was close to 20 percent under the Carter administration, dropped to 18 percent under Clinton, and is currently at an incredible 24 percent of GDP. According to the Congressional Budget Office, federal spending may hover around 22 percent for the next decade.

Federal spending is also higher this year than any year since 1949. The last time spending was higher-in 1946, it was 24.8-the country was just coming down from the exorbitant rates of spending during World War II.

GOP presidential candidate Mitt Romney has said he would scale federal spending down to 17 percent of GNP over the next few years. 

Read more details here: President Obama Has Outspent Last Five Presidents 

 

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