Then, Dubya was elected:
However, Cato's fiscal analyst Veronique de Rugy notes: "The current president easily eclipses his father on federal spending growth." De Rugy and Cato researcher Tad DeHaven calculate that in real, or inflation-adjusted terms, non-defense discretionary outlays will rise about 20.8 percent in George W. Bush's first three years in office (through FY2004). That growth far exceeds the 11.6 percent growth in the first three years of former President Bush's administration. Indeed, the current president's three-year real increase exceeds Jimmy Carter's term (13.8 percent), Ronald Reagan's first term (-13.5 percent), Reagan's second term (-3.2 percent), Bill Clinton's first term (-0.7 percent), and Clinton's second term (8.2 percent). See table for details.
My point is that liberal influence has been creeping in and taking out our country's core and core values for decades. It will take decades of concentrated, focused committment and patience to turn that around in a lasting way.
Than America was attacked. And nothing was or will ever be exactly the same again. Perhaps this explanation from John Barry, Chief Economist from the Tax Foundation, about the 04 budget will provide you some explanations and accurate comparisons.
The President’s FY2004 Budget in Perspective
President Bush’s fiscal year 2004 budget, released yesterday by the Office of Management and Budget (OMB), requests $2.2 trillion in total spending and anticipates $1.9 trillion in total receipts. In other terms, based on administration forecasts, federal spending will be 19.7 percent of Gross Domestic Product (GDP) and receipts will total 17.0 percent of GDP in fiscal year 2004. Spending of $2.2 trillion represents a 2.2 percent increase over the administration’s most recent estimates for the current fiscal year and a 25.3 percent increase compared to a decade ago, fiscal year 1994, after adjusting for inflation. The $1.9 trillion in anticipated collections represents a 2.7 percent increase over the administration’s most recent estimate for the current fiscal year and a 25.5 percent increase compared to a decade ago. Figure 1 shows federal outlays and receipts as a percentage of GDP since 1940.
The administration’s budget shows a current year (fiscal year 2003) net deficit of $304.2 billion and a net deficit of $307.4 billion in fiscal year 2004. The budget shows continued deficits through at least 2008. The deficits over this period will increase outstanding debt held by the public from an estimated $3.9 trillion at the end of fiscal year 2003 to an estimated $5.0 trillion in 2008. Measured as a percentage of GDP, debt held by the public is expected to decline from 36.1 percent of GDP at the end of fiscal year 2003 to 36.4 percent of GDP at the end of fiscal year 2008.
It is important to put the current budget proposal into historical context. To do so, it is necessary to translate current spending and revenue proposals into real terms either by adjusting for inflation or by expressing the proposal in terms of the broader economy. Looking merely at the budget in nominal terms that do not account for inflation or economic growth is misleading and inaccurate. The table below contains information about the current budget in the context of the post-World War II era and the past three administrations. Highlights include:
The President’s budget proposes spending $390.4 billion on defense related activities in FY 2004. This amounts to 17.5 percent of all spending and 3.5 percent of GDP.
-This level is roughly the same as defense spending was in 1996, which amounted to 17.0 percent of all federal spending and 3.5 percent of GDP.
-Defense spending in 1987, the height of the Reagan build up, was 28.1 percent of all federal spending and 6.1 percent of GDP.
The President’s budget proposes a fiscal year 2004 budget deficit of $307.4 billion, which is 13.8 percent of all spending and 2.8 percent of GDP.
-This level is roughly the same as the deficit was in 1994, which amounted to 13.9 percent of all spending and 2.9 percent of GDP.
-Deficit spending in 1983, the highest point during the Reagan administration, was 25.7 percent of all spending and 6.0 percent of GDP.
A chart is included but I'm unable to link it here for some reason. A link to the article can be found here.
Prairie