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Friday, November 25, 2011

American Thinker: George W Bush Did NOT Overspend

From The American Thinker: The ideas that federal spending exploded under George W. Bush, that "Bush's wars" account for our spending explosion, that Reaganism died with Reagan, and that we are on a spending binge that started decades ago are all nonsense.

Our current spending binge is a very recent phenomenon with a very specific starting point: the year Democrats started writing budgets (or continuing resolutions), compounded by Barack Obama's inauguration.

...In 2007, total spending was 19.6% of GDP, a level nearly matching that of 1996, and comfortably below the average level of spending from 1960 through 2000: 20.3% of GDP. And that relatively low level of spending in 2007 included War-on-Terror spending. Without the WOT, a reaction to being attacked on our soil, federal spending in 2007 was just 18.4% of GDP -- a level not experienced at any time between 1967 and 1999, and nearly matching the post-1966 low of 18.1% in 2001.

There is something else special about 2007. That was the last fiscal year in which the federal budget was written by a Republican-controlled Congress.

More insight here!


Anonymous said...

Yet a lot of conservatives think he did overspend and that the financial crisis we are experiencing now is his fault. There is just too many liberal/Democrat talking points polluting the media. Conservatives really have to do an inordinate amount research in order to cut through the bull and get to the truth.


Sweetface24 said...

What I find so mind-boggling is how some Conservatives are now calling him a socialist. Seriously? GWB a socialist? Once upon a time he was the most hardcore right-wing nutjob. Now he's a socialist? Weird.