Obama has spent at truly insane levels of spending. But if we think that getting rid of Obama will solve the problem, we are kidding ourselves. Every modern president other than perhaps Reagan spent like a drunken sailor. The system is set up to spend money. “Conservative” Bush spent like there was no tomorrow and added entitlements with costs that will skyrocket. So did his father. Even Clinton did and was only held back for a short time by a Republican Congress, which ultimately threw in the towel and opened up the spending spigot toward the end of Clinton’s term and during Bush’s term. We have to change the institutions and how budgeting is done. And we have to chop 20% to 30% off of NEXT year’s budget from this year’s actual budget. Not cut the rate of growth but actually cut 20%.
In Q1 2012, GDP rose $142 billion, while debt rose $359 billion. In other words, it took nearly $2.50 in debt to generate $1.00 in GDP.
So much for Dems ‘multiplier’!