Monday, December 17, 2012
The Deficit - part three of three
The US deficit has reached unprecedented levels in the last five years.
The orange line represents the yearly incremental deficit as a percent of GDP. The dark red line represents the yearly incremental deficit as a percent of total federal government outlays. The red and blue shading represents party control of the House, the Senate, and the Presidency. (The white space from 2001-2002 represents an even split in the Senate.)
These values are not due to welfare and they’re not due to war. They’re not the results of a republican government, and they’re not the result of a democratic government. They are the results of poor fiscal planning and a lack of government responsibility, regardless of which party is in control.