Last month’s deficit of $221 billion was 37 percent larger than the entire year’s deficit of 2007 of $161 billion. But government does not produce wealth.
If I understand the budgetary process correctly, FY 2007 was the last year in which a Republican Congress passed the budget. And to think liberals chide us conservatives for criticizing Obama’s spending spree while alleging we were silent during the Bush years. Silent we surely were not even as the overspending weren’t nearly so bad.
Read the whole thing to see just how our government continues to grow while the private sector shrinks.