Jon Sprunk, on 12 March 2012 - 07:34 PM, said:
When I talk to my repub friends/family, it's like Raidne said. They complain about all the spending in Washington DC. Yeah, they also snicker about the secret Muslim stuff and call him a socialist/communist, but the spending seems to be the big problem with them.
At which point, I invariably point out that repub presidents haven't exactly been deficit hawks the past 40 years...
Fuck, if people are gonna keep brining this up, let's talk about it.
"Obama has gone spend crazy" is false. Completely utterly false.
Let's go with data: http://krugman.blogs...its-and-virtue/
Let’s look at the growth of real government spending — all levels, federal, state and local — before and after the crisis.
All data are from FRED
. I present spending with and without unemployment benefits, to give you the picture once you exclude the biggest piece of safety-net spending
So even with unemployment benefits included, spending grew no faster after 2007, as deficits soared, than before. Take out UI, and there was a noticeable slowdown, which would be even bigger if we also took out other safety-net programs such as food stamps.
Yes, both before and after government spending rose faster than the economy’s long-term rate of growth, mainly because of health-care costs. But that growth difference is a very small part of the deficit story.
So what we’re basically looking at is a collapse of revenue. That’s a policy disaster, not a moral failure.
I ultra-emphasized the important parts.
Among a few people there is, perhaps, a perceived "spending spree" going on, but it's not true. And if it's perceived now, well, remember that of all the candidates for 2012, Obama's budget is the most fiscally conservative: http://krugman.blogs...phonies-update/
Which shouldn't surprise anyone who's been paying any attention to the last 4 or so presidents and how they spend money and which party they come from.
So yeah, anyone who claims this is about spending is either uninformed or a liar.
For more comparisons of this recovery to previous ones (notably Conservative Jesus/Reagan), here's some more good stuff:
At this point in the Reagan recovery government spending had risen 11.6 percent; this time around it’s actually down by 2.6 percent. So if we had followed the Reagan track, spending would be almost 15 percent higher.
Edited by Shryke, 12 March 2012 - 11:24 PM.