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: Instapundit.comA VISUAL HISTORY OF U.S. GOVERNMENT DEFICITS: ?A number of my readers are claiming that the only re?
By Glenn Reynolds
A VISUAL HISTORY OF U.S. GOVERNMENT DEFICITS: “A number of my readers are claiming that the only reason Obama is running such a big deficit is that revenue has collapsed. I don’t see that in the data. These figures are in constant dollars, so they’re unaffected by inflation/deflation, or the collapse in GDP; they’re simply an assessment of the absolute increase in spending compared to taxes. As you can see, there’s a huge increase under Obama–that huge upslope is the change between 2008 and 2009 spending levels.”
Full post as published by Instapundit.com on November 02, 2010 (boomark / email).
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