• Twitter
  • Facebook
News-Sentinel.com Your Town. Your Voice.
Opening Arguments

The spending habit

Well, duh:

As the chart above shows, since 1950, tax revenues have been remarkably stable. Despite endless machinations, reforms, tweaks to the tax code, new breaks, tax hikes and tax cuts, tax revenues as a share of the total economy (called gross domestic product, or GDP) have stuck steadily at right around 18 percent.

What has changed is spending.

As the poster notes, the entire federal budget did not reach $1 trillion until 1987. This week, the federal deficit topped $1 trillion, with three months still left in the fiscal year. Even those on the federal deficit commission ought to be able to figure out what the problem is.


Mon, 07/19/2010 - 4:03pm

Well, yes. Two unfunded foreign wars started by George W. Bush. A new medicare entitlement started by George W. Bush. A reckless tax cut targeted exclusively at the super-rich who didn't need it under George W. Bush. A huge bailout initiated by George W. Bush. Funny you didn't mention him. I seem to recall a budget surplus. Oh yeah, that doesn't count, because it was achieved under a Democrat, Bill Clinton. You're entitled to your own opinion, as they say, but not your own facts.

tim zank
Mon, 07/19/2010 - 6:29pm

Same old broken record Littlejohn, let's just bury our heads in the sand and spend more because (insert any frickin politician) did it too.

When your house is on fire, it matters not at that moment who actually lit the match, but rather what matters is to put it out before it is completely destroyed.

Pouring gas on a fire only makes it get destroyed faster, of course that could very well be Barry's and the Dems plan all along, judging by their desire to keep pouring gas on the fire.

I know you don't care about taxes, cost increases, unemployment, kids futures etc, (it sounds pretty much like your life is over for the most part anyway), but most of us really don't want to think about our kids inheriting a third world banana republic with a Pepsi sign on the flag.