It’s great that lower taxes seem to be generating rises in revenue (though not enough). If we had a conservative administration that controlled spending, we could have an amazing example of conservative fiscal policy working. But we don’t. As the Heritage Foundation points out, spending last year increased at a faster rate than at any time since 1990. 9 percent in one year! Remember how they promised fiscal restraint if they were re-elected? I’m glad I wasn’t dumb enough to buy that one and backed the more fiscally conservative candidate. Money quote:
Since 2001, federal spending has leaped 45 percent. Defense and homeland security account for less than one-third of this increase. Education has increased 137 percent, international spending by 111 percent, and health research and regulation by 78 percent. Anti-poverty spending now tops three percent of GDP for the first time ever. Even after a freeze in FY 2007, non-defense discretionary spending will be up 42 percent since 2001 ‚Äî double the increase enacted in President Clinton‚Äôs first six years in office.
George W. Bush: twice as liberal as Bill Clinton. The numbers don’t lie.