“No Man’s life liberty or property is safe while the legislature is in session”.

- attributed to NY State Judge Gideon Tucker

Monday, April 25, 2011

John Taylor's Simple Spending/GDP Chart

Economist John B. Taylor wrote an editorial in this weekend's edition in which he simply focused on how federal spending has exploded under Wonderboy from its much lower prior levels, as expressed as a percentage of GDP.

Here's the chart he produced.

Scary, isn't it?

Taylor asks why we can't simply return to federal spending levels, as a percent of GDP, that we experienced prior to 2009? Otherwise, as Taylor's chart demonstrates, Wonderboy plans to lock in new, higher levels of spending which are unusual and, ultimately, unsustainable.

Good question.

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