The current administration’s budget that just passed is $3.6 trillion, a whole lot of money. The budget for 2008, passed by the last administration, was $3 trillion, still a whole lot of money. The difference is the 2008 budget did not include the cost of the Iraq war. It was held off budget and paid for with supplemental spending. So let’s do some basic math. The cost of the Iraq war in 2008 was $144 billion, roughly. That makes the 2008 budget about $3.15 trillion. So if the accounting had been done accurately, the difference in the two budgets is about 10 percent. What a whopping increase!
Considering the mess we’re in, most economists are concerned that the spending increase is not enough, rather than too little. The economists all argue about whether the spending is in the correct place, but the overall consensus is that more would be better. Over the eight years of the previous administration, the deficit doubled, from approximately $5 trillion to $10 trillion. These are facts. But I guess it’s OK when “conservatives” borrow and spend the money. Yes, the budget projections for 10 years out are horrific. Do a little research and see where those come from. The budget accuracy at four or five years out is about as accurate as the weatherman predicting the temperature five years from now.
Let’s examine the “poor will be very poor and only the super elite will be very rich.” Income disparity has never been greater in this country. It’s been the robber barons of the 1890-1920’s writ large. “The top 10 percent, roughly those earning more than $100,000, also reached a level of income share not seen since before the Depression. The new data also shows that the top 300,000 Americans collectively enjoyed almost as much income as the bottom 150 million Americans. Per person, the top group received 440 times as much as the average person in the bottom half earned, nearly doubling the gap from 1980.” This is from The New York Times, March 29, 2007.
I don’t begrudge anyone making a lot of money by being smart, working hard, or creating a business. I want to do that one day. Don’t we all? I think the facts verify that exactly what was ascribed to the current government is exactly what has been happening for the last 20 years, more so over the last eight. Famous tactic in politics, project your tactics and failures onto your opponent.