World-News

Cato Institute
by Tad DeHaven

06/07/10

In 2000, the federal government spent $1.8 trillion while debt held by the public stood at $3.4 trillion. A mere decade later, the federal government is on pace to spend $3.7 trillion while publicly held debt is approaching $10 trillion [sic]. There’s no blame game left to be played. President George W. Bush left office having presided over one of the largest expansions of federal spending in history. President Barack Obama appears intent on pulling off the amazing feat of making Bush look like a relative tightwad. And Congress has become so addicted to spending that the new Capitol Visitor Center — itself a $600 million fiscal boondoggle — might need to be converted into a giant methadone clinic. So what hope do taxpayers have left?

http://www.cato.org/pub_display.php?pub_id=11878


Informant: Thomas L. Knapp



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