Romney's Biggest Fib?
Steuerle points out that it is wrong to assume this level will remain, and he notes that when "recessionary spending" ends, the overall government expenditures-to-GDP ratio is likely to drop.
Click to enlarge.
So I guess it would also be wrong to assume that we won't be returning to the long-term exponential trend line in red. As a side note, perhaps he did not get the memo. It's been THREE FULL YEARS since we exited the recession. What will government spending look like when we enter the next one?
Eugene Steuerle is an economist with the Urban Institute. In sharp contrast, I'm just an anonymous blogger on the Internet with rudimentary information gathering and charting skills. What do I know?
I can say this. Unlike most, I don't have much of a political agenda.
I believe Obama is paving us a road to hell with good intentions. I think Romney will fly us there personally. Why, oh why, didn't we pick Ross Perot?
If you can't stand a little sacrifice and you can't stand a trip across the desert with limited water, we're never going to straighten this country out. - Ross Perot
See Also:
Sarcasm Disclaimer
Source Data:
St. Louis Fed: Government Current Expenditures / GDP
I would never use the word "fib' in connection with Romney.
ReplyDeleteHe is simply a god damned liar, and probably the most promiscuous liar in the history of U.S. presidential campaigns.
Democracy in America has been in its death throes for well over a decade. It's time to administer last rights.
JzB
Jazzbumpa,
ReplyDeleteDemocracy is a device that insures we shall be governed no better than we deserve. - George Bernard Shaw
We now apparently deserve this. Sigh.
Shaw was a crank.
ReplyDeleteThe problem is that democracy gives way to oligarchy. That is a device that insures we will be governed much worse than we deserve.
We're still in transition with some vestiges and illusions of democracy.
Since, if there is hope it lies in the proles, and they're all watching Faux Noise, I'll say we're pretty much doomed.
JzB
Jazzbumpa,
ReplyDelete"Illusion of _____y" is a common theme these days.
Illusion of Independency
We're still shipping our jobs to China and importing oil from the Middle East.