Obama Spending Trends Charted
Posted May 12th, 2009 at 6:33pm in Entitlements 
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So, would President Obama’s budget plan really increase deficit spending much more than other modern presidents? Well, yeah, to the tune of seven times more, measured as a percentage of economic output, than under President Kennedy over 45 years ago — as you can see in this chart.
It’s one of the 37 easy-to-follow information graphics in Heritage’s updated and expanded 2009 Federal Revenue and Spending Book of Charts.
How much and how fast would our national debt go up under the Obama plan? Is it true that, amid the flood of government spending, the defense budget would fall to what it was before the 9/11 attacks?
In the Book of Charts, taxpayers will find clear answers to those questions about the new administration, along with other tax and budget trends important to them. For one: Tax rates will have to be doubled if Congress doesn’t reform Social Security, Medicare and Medicaid.
New features include an interactive “flash” graphic that dramatically shows that the more Americans earn, the higher their portion of total federal taxes. Click on the image to see that the top 10 percent of earners pay 71 percent of all taxes while the bottom 50 percent pay a mere 3 percent.
The new Book of Charts allows visitors to download, post or e-mail any of the 37 charts and graphs, as well as click on links to related Heritage research and analysis, including here at The Foundry. You can quickly bookmark, embed and share the data.
Nicola Moore, assistant director of Heritage’s Roe Institute for Economic Policy Studies, collaborated on the improved Book of Charts with research assistant Steve Keen and senior graphics editor John Fleming. Moore says:
“More than ever, concerned taxpayers — as well as journalists and members of Congress – will find Heritage’s Book of Charts to be the go-to site for details on federal spending and taxes, whether past, present or projected.”
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6 Responses to “Obama Spending Trends Charted”
MAS1916, Denver, CO on May 12th, 2009 at 6:33pm said:
Amazing that this chart begings its historical look with Jimmy Carter. Carter drove the economy to a disastrous train wreck in the late seventies. Obama seems intent on re-creating the crash.
Running up a massive deficit means that it has to be funded. Obama’s choices on how to do this are limited – he can borrow or he can expand the money supply. It appears very likely that He will expand the money supply and light the fuse of inflation in the very near future. This will be the middle classes’ HUGE tax increase. What Obama wouldn’t tax for, he will extract by cheapening the dollars each citizen earns and holds in savings.
If one looks at the Carter deficit and historical interest rates from that era, the only conclusion is that Obama could well be driving the economy over a cliff.
Jimmy Carter’s biggest contribution to America is that he proved the utter failure of liberal economic policies. The Obama generation of course never learned this and will have to learn the hard way. At least Carter started the Reagan Revolution.
For a look at other similarities between Obama and Jimmy Carter, you can hit:
http://firstconservative.com/blog/political-humor/political-humor-jimmy-carters-disastrous-legacy
Josue, from Los Angeles, CA on May 12th, 2009 at 6:33pm said:
Hello, I would like to know of what you think about this tax code. In which we tax every person eligible to vote inside the U.S.A. ten dollars a month. for CA we will raise $170 million if we go by the 2008 pres. elections in one month, in one year CA will raise $2 trillion. If we tax every citizen eligible to vote another ten dollars for the federal government, maybe by-monthly to ease the amount to pay at once, U.S.A. will raise $1.7 trillion in a month and $20 trillion inside one year. I like it because it is simple, based on the tenth yet still under the majorities official tenth, And effective.
Michael Edmond, Oklahoma on May 12th, 2009 at 6:33pm said:
Just checking the math in the post by Josue from LA. It is off slightly in that his $20 trillion figure should be $20 billion..not quite enough to run the gummint, even under a sane Congress and Prez. Our total GDP in one year is only $15-17 trillion (at least it used to be).
jr., Michigan on May 12th, 2009 at 6:33pm said:
obama leads in spending. this should surprise noone…except for the drones.of course, the drones (or sheeple)don’t care.this is history, after all. yeah, right, whatever. can this moron be impeached now…PLEASE???? america REALLY needs change now, how about back to conservative values? i know i’m not the only person who believes this presidency is a sad, horrible experiment gone wrong. god help us. we as a nation are doomed.
ExtremeCentrist on May 12th, 2009 at 6:33pm said:
This is disinformation. The chart should be organized into Democrat Congresses and Republican Congresses.
Barb -mn on May 12th, 2009 at 6:33pm said:
Wow Mr. President, yours is the biggest of all.
What does this say about the people you lead????
If the individuals of this country were as strong as the majority once was, living of, for and by the principles of the American Constitution, things would be equal amongst the citizens and nobody would be paying income tax or everybody would. We’d need 75% less government. People would do for themselves less your handouts. All working citizens would have freedom to spend their money earned, less your frivolous, bias spending.
The constitution is a timeless document. Scriptured for all American citizens. Nationality or country of origin is irrelevant.