Facing Imminent Crisis They Spend Even More!

As the worst debt crisis in American history appears on the horizon the political establishment shows no urgency about spending cuts.  The Treasury Department’s monthly report for the first 8 months of the 2011 fiscal year shows 2011 spending is running 6% above 2010.

As the numbers demonstrate, the Obama Administration believes the most urgent national problem is too-little government and Republican efforts to apply the breaks have not moved beyond rhetorical.

The government’s fiscal crisis is, quite simply, a spending crisis.

Key Facts:

  • The Administration’s Office of Management and Budget projects a full year 2011 deficit of $1.65 Trillion.

  • Congress could have cut that deficit in half without any tax hikes by spending the same amount they spent in 2008.

  • Spending the same amount they spent in 2007 it would have cut the 2011 deficit by two-thirds.

 

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