Somehow, most of us DO think the Feds have a spending problem, Mr. Obama!

by Skip

Federal spending

“What stunned House Speaker John Boehner more than anything else during his prolonged closed-door budget negotiations with Barack Obama was this revelation: “At one point several weeks ago,” Mr. Boehner says, “the president said to me, ‘We don’t have a spending problem.’”

…Under this scenario, federal spending would average 23% of GDP over the next decade — climbing as the decade drew to a close. Not only is that level of spending three percentage points higher than average federal spending from 1987-2007, it represents a sustained level of spending unheard of in US history. The only comparable period outside of World War Two was the 1980s military buildup, when spending averaged 22.7% of GDP from 1981-1986. But at least that budget binge set the stage for lower defense spending in the future. It was temporary.

(H/T: Heritage)

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