He's spending money like a drunken sailor on BOTH "guns and butter". I agree that Bush is spending money like a drunken sailor (a drunken RAT sailor at that), but his "guns" spending throws off a false reading.
True, the Defense Dept has had a big increase, but much of this money is going toward payroll, logistics, replacement parts, administration, troop rotation, hazard pay, etc.
I submit that the spending on the military has gone down if we talk what the dollars are buying. The Ruskies and the Chicoms are spending their Defense dollars on late generation ICBMs, strategic ICBM carrying submarines and fifth generation fighters and other advanced hardware.
America is spending its Defense dollars on payroll and logistics, etc., while cutting back on hardware procurement, eliminating some advanced weapon platforms and eliminating many military bases.
America has gotten WEAKER militarily under Bush relative to Russia and China.
That is not much "guns" spending from a factual angle.
You might consider that Bush has adopted the FDR receipe of priming the economy with deficit government dollars. That's not entirely accurate. Dubya's deficits more closely mirror LBJ's "Great Society". He's spending money like a drunken sailor on BOTH "guns and butter".
Not only that but he cut taxes in a time of war, a first in American history. The added effect of that can be seen in the following graph (whose numbers come from a just-released CBO analysis):
The actual numbers and sources can be found at http://home.att.net/~rdavis2/cbobud05.html. As can be seen, the deficit is projected to shrink below $100 billion in 2012 only if the Bush tax cuts expire as currently scheduled. Otherwise, it will grow, surpassing a half trillion dollars a year by 2014. As the second graph at the above URL shows, this is projected to cause the gross federal debt to increase from the current 64% of GDP to 81% of GDP by 2015. All this will be just in time for the Boomer retirement.