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Friday, April 22, 2011

Obama's Permanent Binge

John Taylor of Stanford University lays out the chart in the WSJ that tells the Obama story pretty well. Since 2000 (and really over the last half century), the government has been fine operating with no more than 20% of GDP as its budget. Cue Obama and Pelosi - voila - that spending binge goes to 25% of GDP. And in his February budget, he intended to keep it there permanently. Two months later after GOP Paul Ryan's budget that simply returns spending to historical norms (which Obama calls a "radical plan"), Obama passes another budget that isn't as ridiculous as his first, but still keeps most of his spending in place.

Americans will judge which plan is radical.