President Obama claims to be following a path of fiscal discipline by freezing spending over a whole 13 percent of the federal budget. And yet, he's still able to grow federal spending yet again in FY11. The federal budget for FY11 will amount to 25.1 percent of GDP while the deficit alone will equal 8.3 percent of GDP. What a trick! He manages to get fiscal discipline and outrageous deficit spending all at the same time!
I think I've read about this in a George Orwell novel.
Veronique de Rugy has all the details over at the Reason Foundation.
I think I've read about this in a George Orwell novel.
Veronique de Rugy has all the details over at the Reason Foundation.
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2 comments:
This is going to end in government debt default (by the way, not for the first time in US history).
A likely outcome the way things are going now... thanks for the link.
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