Saturday, May 26, 2012

Spending reality

I love how the Obama camp keeps saying increased recent spending isn't their fault.
Spending as adjusted leaped by 15% in fiscal 2010, even though the recession was officially over three months before it began. That percentage increase would probably be a modern single-year non-wartime record if the government handled its accounting properly. Even Nutting, if he had integrity, would have to admit that this constitutes a “spending binge.” Adjusted outlays only ramped back a bit during fiscal 2011. Given how spending rose during the two preceding years, the 6.4% compound annual rate of spending in fiscal 2010 and 2011 is inexcusable.

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