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It would be nice to have a chart like this that is extended to show the projected rate under Obama. The liberal meme that "Reagan almost bankrupt the nation" is a joke, once the facts become apparent.“The more immediate question is what % the fed govt budget is of GDP. “
Under Obama next year it will go to almost 27%!! That is higher than at any time since WWII.
Under Obama next year it will go to almost 27%!! That is higher than at any time since WWII.
I would think that the % will accelerate in it's increase as more anti private sector legislation is passed and govt grows. As the govt portion of the GDP grows it will reach a point where it is impossible for it to be funded. IIRC, the highest % the govt has been able to take of GDP in taxes is 19.5%.
It would be nice to have a chart like this that is extended to show the projected rate under Obama. The liberal meme that "Reagan almost bankrupt the nation" is a joke, once the facts become apparent.