The Obama Spending Future
Sunday October 31st, 2010 • Posted by Craig Eyermann at 7:20pm PDT • 5 Comments
We’ve been digging through the White House’s budget projections for Fiscal Year 2009, which was produced under President Bush’s tenure, and Fiscal Years 2010 and 2011, which were both produced under President Obama’s direction, to compare how much of the U.S. taxpayers’ money each would have planned to spend in the years from 2010 through 2013.
Why these years? Simple! The budget for spending in Fiscal Year 2009 was crafted to reflect many of President Bush’s priorities prior to the beginning of the October 2008 financial crisis.
With the fallout from the financial crisis of October 2008 receding in 2010, we can use President Obama’s Fiscal Year budgets beginning with that year and projecting forward in time to compare his proposed spending with what President Bush had proposed for those same years to see exactly what President Obama intends to contribute to the total level of the federal government’s spending.
Our results are shown in the chart above, in which we also showed the actual amount of spending that occurred in the years from 2000 through 2009 for reference. All dollar amounts in the chart are adjusted for inflation and presented in terms of constant 2005 U.S. dollars.
What we find is that even after adjusting for inflation, President Obama intends to permanently increase the federal government spending by an average of $576.4 billion during the years from 2010 through 2013. We also see that he doesn’t plan to stop there, as he would plan to spend even more money in 2014 and 2015, the last year for which he projects spending in his Fiscal Year 2011 budget.
Now, if you combine the Obama Spending Future above with the Obama Tax Future, where he projects taxes will rise to a larger and larger share of the U.S.’ annual GDP, you can see why there’s such a problem with the Obama Deficit Future. Even though President Obama plans to raise taxes by quite a lot, he plans to increase federal government spending even faster.
Note to President Obama’s debt and deficit commission: That’s not a tax problem—that’s a spending problem.
Don’t blame us. We’re just showing you what’s in President Obama’s proposed budget plans. It’s not like he didn’t tell you....
-
CLARENCE SWINNEY says:
IS THIS A SERIOUS FORUM???
-
Terry Montonye says:
The Toyota Production System versus the Harvard/Thornton/McNamara “management” culture, and look who won!
Now, it’s emerging economies versus emerging statism, and who’s winning that?
In the Eisenhower days we had “Hatchet Harrys” and lots of factories. Bosses were up from the bottom, lunches were short and sober and decisions got made.
Now, corporations, bureaucracies, and politics are all alike. Specialists in management, finance, and statism rule all roosts, American engineers are too few and far between, and innovation typically is more threatening than compelling.
“Lean” means all hands to maximum possible extent, Toyota, of course, being built on it. Now, as factories throughout Asia-Pacific follow suit, U.S. education, production and “customers” spiral downward.
When people are educated, responsible and involved, economies prosper — even bottom fish can start coming back! But, efficiency and effectiveness of organizations – i.e., Wall Street-, junk bond- and government-funded, in our case – must pre-empt cash infusions and minimum wage, entitlement, and hidden assessment/control legislation.
Bottom line: “jobs back” requires: (1) “education, big business, factories, and environment” in Republican arguments, (2) term limits and “appointed” U.S. Senators sucking business people into state politics, and (3) civil service efficiency incentives inducing population reductions in the counties surrounding Washington, D.C.
-
Our you kidding Swinney, when does the kool-aid run out its Obama’s policies that are the problem, my third-grade neighbor kid even knows that.
-
Maybe you mean alcoholic. I would disagree it’s psychotic delusions of omnipotence. Trying to get real with some academics is a loosing argument, as they have already made up their decisions and that’s it.
 |
 |
 |
 |
Search
By linking to Amazon.com from this page, The Independent Institute earns referral fees of 4% to 15% from whatever you buy. Bookmark the above link and you can support the Institute when you do your normal shopping!
Recent Posts
Recent Comments
- libertarian jerry on Why “s— happens” with government
- Henry Bowman on “Customer Service” at the IRS?
- PaulTheCabDriver on “Customer Service” at the IRS?
- Carol Ann Harder on “Customer Service” at the IRS?
- The Defense Reform Proposals Package – the 26th edition « Zbigniew Mazurak's Blog on Another Day, Another Taxpayer Waste
Recent Posts on The Independent Institute’s Other Blog, The Beacon
- Power Corrupts May 22, 2013 Randall Holcombe
- Six Billion Physician Fees May 22, 2013 John C. Goodman
- Healthcare and the Cost of Non-Price Rationing May 20, 2013 John C. Goodman
- Stupid Regulations May 17, 2013 Randall Holcombe
- Healthcare and the Poor: Why Money Works Better than Waiting May 15, 2013 John C. Goodman
- Why Government Shouldn’t Build Things (Part 3) May 13, 2013 Mary Theroux
- No Longer Fruitcakes. . . May 13, 2013 Alvaro Vargas Llosa
- Both the Right and Left Go Wrong on Healthcare Prices May 13, 2013 John C. Goodman
Blogroll
- (Tab)ulation, The
- Agitator, The
- Agoraphilia
- Alpha.Sources
- AntiWar Blog
- Anything Peaceful
- Austrian Addiction
- Beacon, The
- Bovard
- But What the Hell Do I Know…
- Cafe Hayek
- Cato@Liberty
- Citizen Economists
- Commons, The
- Conservative Economics
- Coordination Problem
- Crash Landing
- Culture of Congestion
- Division of Labour
- Downsize DC
- Econ Log
- Economic Way of Thinking, The
- Economics in Plain English
- Ed Policy
- El Instituto Independiente Blog
- Enterprise Blog, The
- Federalist
- Financial Armageddon
- Fly Bottle, The
- Foundry, The
- Freakonomics
- Free Advice
- Free Exchange
- FreedomWorks Blog
- Greg Mankiw’s Blog
- Hawblog
- Healthcare Economist
- Hit & Run
- Jeff Miron
- John Stossel’s Take
- Kids Prefer Cheese
- Liberty and Power
- LRC Blog
- Macro and Other Market Musings
- Managerial Econ
- Marginal Revolution
- Market Urbanism
- Maverecon
- Max Borders
- Mess That Greenspan Made, The
- Mises Economics Blog
- Neutral Source
- Newmark's Door
- OpenMarket
- Organizations and Markets
- Perfect Substitute, The
- Perpetual Three-Dot Column, The
- Peter Gordon's Blog
- PowerBlog
- Pro Libertate
- Rogue Economist Rants
- Skeptical CPA
- Stefan Karlsson
- Straus Military Reform Project
- ThinkMarkets
Archives
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
SOMETHING HAYWIRE IN COST
How can a party allow such a horrid party to get re-elected
Clinton left Bush Heaven On Earth
Bush left Obama Hell on Earth
Clinton left Bush an 1800B Budget and four balanced budgets
Bush Left Obama a 3600 Budget
Clinton left Bush a 5700B of Debt
Bush left Obama 11,800B of Debt
Clinton left Bush a 237,00 net new jobs created per month
Bush left Obama a 31,000 lowest since Hoover.
Clinton left Bush Peace on Earth
Bush left Obama Hell on Earth Two disastrous wars
Clinton left Bush a President most highly rated of any peacetime President in Asia, Africa, Europe.
Bush left Obama the most hated President in history
Bush left Obama an Housing Tsunami and Financial Volcano
Bush left Obama, in 2008, an 8500B Bail out commitment
Bush left Obama his Takeover of Fannie/Freddie, AIG, and first bailout of Chrysler
How can any honest informed person vote to re-continue such horrid actions and results?
clarence swinney
political historian
lifeaholics of america
author-Lifeaholic–Life story of workaholic failure to lifeaholic success
University President-”Every college student should have this book”