Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 decade ago

Care to guess just how much spending by the Federal Govt has increased in the last two years?

Is this the HOPE and CHANGE people voted for? (I think we got short-changed, don't you?)

excerpt...

Try this on for size: A 21.4% spending increase over the last two years. Am I talking about your family's finances? How about your income? No. I am talking about our imperial federal government. This 21.4% represents a two-year increase in spending by Democrats running the show. This country has been around for over 200 years ... and in just two years these Democrats managed to increase our spending by over 20%.

And remember this. Out of every single dollar our government spends today ... 41 cents of that dollar has to be borrowed. And just who is going to pay that money back? Your children and your grandchildren. Gee! Thanks mom and dad!

Once again domestic accounts far and away led the increases. Medicaid rose by 8.7%, and unemployment benefits by an astonishing 34.3%--to $160 billion. The costs of jobless insurance have tripled in two years. CBO adds that if you take out the savings for deposit insurance, funding for all "other activities" of government--education, transportation, foreign aid, housing, and so on--rose by 13% in 2010.

As for the deficits, the 2010 total was $1.29 trillion, down slightly from $1.42 trillion. That's a two-year total of $2.7 trillion, or more than the entire amount during the Reagan Administration, when deficits were supposed to be ruinous. Now liberal economists tell us that deficits are the key to restoring prosperity.

But all we have to show for spending nearly 25% of GDP for two years running is a growth rate of 1.7% and 9.6% unemployment.

http://online.wsj.com/article/SB100014240527487033...

12 Answers

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  • 1 decade ago
    Favorite Answer

    Yea.....but Bush...

    Sorry, knee jerk response learned from moonbats. Most of us knew exactly where Mr. Soetero was headed, and it wasn't to decrease spending or to get things on track.

    *blue proved my point--can't focus on the current issues for the grip on the past. While relevant, it does NOT invalidate worse being done by the new administration and SUPER MAJORITY by Dems in Congress. Eventually, you either wake up and face that "us vs. them" is NOT the people against the people, and instead the corrupt powers against the people--or you remain asleep and wake up one day asking how we got here.

  • Paul
    Lv 6
    1 decade ago

    Put this in your pipe and smoke it.....

    When Bush came into office, the budget was in surplus. In Fiscal Year 2001, which covered October 1, 2000 - September 30, 2001, the government ran a surplus of more than $128 billion. But spending and tax policies -- as well as a recession and the 9-11 attacks -- quickly turned those surpluses into deficits.

    CBO projected $1.2 trillion deficit for 2009 before Obama took office. CBO predicted a $1.2 trillion deficit for Fiscal Year 2009 before Obama took office. From CBO's January 2009 budget report, released on January 7:

  • Chin T
    Lv 7
    1 decade ago

    21.4% spending increase over the last two years

    Yep Obama sure does know how to spend money we do not have and get NO results for it.

    Except to make the dollar worth nothing

  • ?
    Lv 6
    1 decade ago

    Yeah...scary, isn't it?

    The big HOPE I have is the big CHANGE at 1600 Pennsylvania Avenue in 2012 when we throw the bum out. He certainly has proved that he isn't worth all the hype.

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  • Anonymous
    1 decade ago

    LOL look at that chart in the article...ALL those "spending" items listing except defense are programs that are SET IN STONE. The only thing that Congress affected from those items was Unemployment insurance and that is because PEOPLE ARE UNEMPLOYED.

    The WSJ leans hard right and that is one DISHONEST article. Pure drivel and pure bunk....

  • Anonymous
    1 decade ago

    Do you have any understanding why the spending was necessary? Obviously you don't.

    It was because of the massive hole in our economy created by letting all the wall street freaks loose with no regulation on the derivatives they were peddling.

    If you don't fill a 3 trillion hole with cash, even cash created from debt, then you risk another great depression.

    Instead of complaining about the debt, you should be grateful you have a president and people in charge who know what their doing instead of parading their ignorance like you.

  • Anonymous
    1 decade ago

    Not really it is as bad as I thought it would be.

  • Anonymous
    1 decade ago

    ya, bankrupt

  • Tony R
    Lv 7
    1 decade ago

    bluechristy's attitude is why this problem never gets solved.

  • well that's what you get with a democrat for president.

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