Tuesday, March 9, 2010

Federal Government Spending Soars

This has been an unforgettable year in the history of American spending.
It began with an eye-popping $800 billion stimulus bill that came from nowhere and went to nowhere. Done with that, the Washington Democrats turned to President Obama's health-care reform, which looked big at first, but turned out to be bigger. A well-publicized June estimate of the Senate bill's cost by the Congressional Budget Office put the 10-year price tag at $1.6 trillion. So $800 billion, then a trillion.
  • Government spending is progressively reaching the point where people doesn't know how $800 billion stimulus bill that came from nowhere and no idea how money was went away. As you see it on the chart, Federal government spending and median income in inflation-adjusted dollars line has been skyrocking since 1970 from where we are now 2010.

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