Here are a couple of happy-fun spending items to make your Monday morning chipper and cheerful. First up, a little line buried at the bottom of a Politico report from the weekend:
Obama’s budget calls for the largest deficit in U.S. history and a doubling of the national debt to $23 trillion in 2019.
That’s assuming, of course, that the government doesn’t grow any faster than promised (but it will) and that the economy will grow as fast as promised (but it won’t). So how long before the debt doubles? Who knows! But we do know that even if we assume a generous 3% growth every year –including this one — out to 2019, the Federal deficit will balloon to about 125% of GDP.
Then there’s this treat:
Government spending on most domestic programs is growing at its fastest pace in nearly 30 years.
Who was President 30 years ago? If memory serves, it was this strange looking fellow.
Which brings us to this week’s Relevant Monty Python Sketch — killer bunny!