Saturday, December 01, 2012

Federal Receipts vs. Outlays

Does this look like an income problem or a spending problem?
If the Mideast wars were the major problem then that gap wouldn't have been closing at the end of President Bush's administration.

More commentary here.

1 comment:

Anonymous said...

Let say the "unfunded wars" caused the increased oulays from 2001-2007, that still was "only" half-a-trillion dollars. What could have possibly happened in 2008? Maybe Congress had a huge landslide change? And isn't Congress really who is in charge of spending money?

The receipts obviously dropped, but only to a little below Clinton year levels. We know that the housing bubble was the main cause there, but we can argue whose policies were more responsible for that. (who wants loans to unqualified people) There I gave away my angle.