Thursday, January 8, 2009

Biggest. Govt. Ever.

WSJ on the "The Deficit Spending Blowout" and the biggest Government ever:

Toss that in (Obama's spending plan) and add more expected bailout cash, and if the economy stays slow the deficit could reach $1.8 trillion, or a gargantuan 12.5% of GDP.... CBO estimates that even before the stimulus federal spending will climb to an all-time high 24.9% of GDP, ... Add the stimulus and bailout cash and we estimate the federal spending share of GDP will climb to 27.5%.

Truly horrific numbers - welcome to semi-socialist America. And all that debt won't help Uncle Sam's credit rating.

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