Annualized growth of Federal Spending:
Reagan 1: 8.7%
Reagan 2: 4.9%
H.W. Bush: 5.4%
Clinton 1: 3.2%
Clinton 2: 3.9%
W. Bush 1: 7.3%
W. Bush 2: 8.1%
Obama 1: 1.4%
Fox News, as usual, tries to spin the numbers differently. In their summary, they came up with an average spending growth of 3%, which may not be the lowest in the past 60 years, but is certainly the lowest in the past 30 years.
All told, government spending now appears to be growing at an annual rate of roughly 3 percent over the 2010-2013 period, rather than the 0.4 (sic) percent claimed by Obama and the MarketWatch analysis.
Percentages may be the symptoms but the rising debt is the disease that can sink us, and no-one has a plan. Obama was to cut the deficit in half during his first term with no mention of the debt. I wonder what he will offer this go-round to his gullible followers?
__________________ I remember when power tools and small appliances had flexible cords.