posted by Chris Bray @ 9:13 AM
Keep in mind that the Bush budgets didn't include spending on the wars.
Noted. Still looks like a death spiral! Arrgghhh!
Look at federal spending as a percentage of GDP and the picture changes.
The death spiral started at least six years ago. I find it mildly invigorating. America in the Afterlife.
As a percentage of GDP: Interesting, but two things I wonder about:1.) How much of recent GDP has been air? GDP fell in the last quarter by an annualized 6% -- a lot of what we were calling GDP was the housing bubble and Enron-style accounting.2,) The line is creeping back up again pretty quickly.Plunging GDP and soaring debt...
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A blog written by increasingly few graduate students in the UCLA history program.
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