Tuesday, October 16, 2012 9:03 AM
Second Fact Check On Spending
The last budget of Bush spent 3510B
Actual spent in fiscal 2012 was 3540.
The 2013 budget projects spending at 3800B.
That indicates that Obama will increase spending
from 3510 to 3800 or 8.3% for four years.
Compare to Reagan 80% and Bush 90% (1830 to 3510)
One big problem is failure to tax to get revenue to pay our way
thereby creating the horrid debt burden.
In fiscal 2012 we borrowed 1100B. A shame. While corporations made record profits and richest got much richer. We have the income to pay our way.
The revenue in fiscal 2012 was 2450B is why we rank below only Chile and Mexico as Least Taxed in OECD nations. The 2450 is 17% of our National Income.
Runaway unfunded spending is in Medicare and Pentagon.
We must cut the runaway spending and tax wealth more to start paying down the debt.