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April 03, 2006

Fiscal conservatism doesn't live with the GOP

Just in case deep tax cuts for the wealthiest Americans aren't enough to screw over our kids, Republicans are making sure that spending escalates as well:

The federal government is currently spending 20.8 cents of every $1 the economy generates, up from 18.5 cents in 2001, White House budget documents show. That's the most rapid growth during one administration since Franklin Roosevelt.

At least with FDR we got the New Deal and victory in World War II. With Bush we have...well, what we have. Which is essentially shit.

Some spending highlights:

• Spending for President Bush's military buildup, which began before 9/11, has risen nearly 50% above inflation in five years.

• Medicare's new prescription-drug coverage is projected to cost an average of $80 billion a year over the next decade, adding nearly 20% to the health care program's annual price tag.

• Spending on social programs, from education to veterans health care, has risen faster than at any time since the 1960s.

• The war in Iraq costs American taxpayers $195 million per day.

As of right now, each US citizen's share of the debt is $28,030.91.

The question we should be asking ourselves, besides "where is all this money going?" and "why are we not raising taxes to cover our spending?" should be "what are we getting for our money?"

With the GOP continuing to be in charge, its evident the answer is "not much".

Posted by Carla at April 3, 2006 07:56 AM