Over the last few weeks, leftists -- from the D.C. / Boston / NYC snobs on "Morning Joe" to the kooks at the "Center for American Progress" -- have been bellowing how the mounting budget deficits are all about the "math". Of course, they are right. Unfortunately, these people are either don't understand the math, or they think that we don't so they can fool us.
Here is the real budget math, from the White House Office of Management and Budget. (All numbers are expressed in terms of percentage of GDP):
Truman through Bush I: - Federal Spending: 19.5% - Tax Receipts: 17.7%
Clinton: - Federal Spending: 19.8% - Tax Receipts: 19.0% (20.5% in 2000)
Bush II - Federal Spending: 19.6% - Tax Receipts: 17.6%
Obama - Federal Spending: 24.4% - Tax Receipts: 15.4%
As much as I dislike George W Bush, the numbers show that his spending and taxes were right at the post WWII average. (I wanted lower spending and taxes.)
But, who is the real outlier here? It's Barack Obama. His average annual spending is 25% above the post WWII average (because of growing government transfer programs) and 13% below the historic average for revenue (because of the sluggish economy).
I am a total numbers guy. The numbers from the White House Office of Management and Budget paint a very clear picture. It's government spending, stoopid...
This is called real math, not leftist fantasy math.
