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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