Thanks Bush Family
Update: Chart below is not correct. It's enough in error that I have deleted it. Author explains here.
William Biggs has a bunch of charts showing historic federal outlays, but below is his chart for year-over-year changes in federal outlays per capita, adjusted for inflation:
Mark:
Don't forget to thank Congress. Budgets can't become law without Congress.
November 19, 2008, 11:29 amstan:
Bush is a dictator. Paul Krugman said so and he's a Nobel prize winning economist.
November 19, 2008, 12:03 pmMike:
Looks like a hockey stick graph. :)
November 19, 2008, 3:03 pmMike:
Looks like a hockey stick graph. :)
November 19, 2008, 3:03 pmfeeblemind:
One wonders how much, if any, the graph would change had the other side been elected president during those years. Perhaps this was the best(?) outcome?
November 20, 2008, 7:46 amjoewxboy:
How are the outlays categorized? Which categories had their spending increased disproportionately? How much of the increase was due to war, and should that be factored out? Does the increase in outlays correspond to an increase in the growth of government, or just temporary spending? How much of that is due to an increase in tax revenues due to a decrease in taxes?
November 20, 2008, 11:00 ambbartlog:
I suspect, though, that he is using the official inflation figures, which are no longer reliable. Which means that the graph really shows two problems at once - undercounted inflation and increased federal outlays.
November 20, 2008, 11:02 am