Scary Chart Of The Day

Note that the biggest jump in spending, by far, in the last 55+ years comes with the start of the Obama era.  Our federal deficits are primarily driven by a massive spending problem, rather than a revenue problem.

Taxpayers Spent $1.4 Billion on Obama Family Last Year

By contrast, British taxpayers spent just $57.8 million on the royal family.

Under Obamanomics, the 47% — and everyone else — will be paying more taxes soon enough

 

Pethokoukis:

One of these two things has got to give: Either a) the projected future explosion in federal spending is reduced or b) a good chunk of the 47% of Americans who currently pay no income taxes will have to start (or perhaps pay a value-added tax).

Less spending or just about everybody — including the broad middle class — will pay more. Lots more . . . .

Why won’t President Obama — unlike Paul Ryan — release a long-term budget plan? Simple. If he did, it would show the only way to realistically pay for the Democratic spending agenda is to eventually raise taxes on pretty much everybody.

And this chart represents an optimistic assessment.

Terrifying!

Increases in Real Per Capita Federal Spending Over The Past 35 Years.

 

"This is no way to run a country. But it might be a great way to wreck the economy."  Might?

Reality Deficit: Left and Obama Misrepresent Debt and Deficit Over Last Four Years

How Much Has Debt Increased Per Taxpayer Under Obama?

By more than $64,000.  To put that into perspective, "the median household income in the United States in 2009, according to the Census Bureau, was $49,777. That means the median household would have needed to work all of one year and then the first 106 days of another year and then give all of their earnings from that time period to the federal government just to pay off the $64,219.88 in new federal debt per taxpayer piled up since Obama’s inauguration."

Plus, contributing every dollar that Americans have earned so far this year still would not cover the cost of government spending.  Cost of Government Day is not until tomorrow.

Perspective

In less than one full term, Barack Obama has outspent the previous five Presidents.

How to Make Obama's Spending Look Small

In one easy to follow infographic:

Is Obama a Big Spender?

Obama and his media surrogates are now trying to claim that he is not.  James Pethokoukis (and reality) lays waste to this argument.

More here.