Spending Under Bush
Statistics can be misleading, as we all know–and mind-numbing too. But current critics of President Bush are sounding alarms about his spending and claiming that Democrats are the true guardians of fiscal restraint. To judge the truth of these claims, it may be helpful to look at a few numbers.
Total federal outlays for Bush’s fiscal year 2003 amount to only 19.9 % of GDP. This is less than the 21.4% spent in Clinton’s first year in 1993, less than the 21.0% spent in Clinton’s second year in 1994, less than the 20.7% spent in Clinton’s third year in 1995, and less than the 20.3% spent in Clinton’s fourth year in 1996.
It is true that federal outlays slipped to 19.6% in 1997, 19.2% in 1998, 18.6% in 1999, and 18.4% in 2000. But these were years of unexpected prosperity, of the .com speculation, and of the stock market bubble. These years were followed by the bursting of the bubble and a recession that began in 2000.
19.9 % of GDP is not out of the historical norm, especially considering the recession that began in Clinton’s last year in office and the unprecedented military demands posed by 9/11, Afghanistan, and Iraq.
The Bush outlays hardly represent an alarming trend. In fact, they may represent something of a model of restraint, given the unique conditions of the time.
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