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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!

2 comments:

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.

Dave

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.