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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 386.01+1.6%4:00 PM EST
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To: Canuck Dave who wrote (103656)11/12/2013 1:15:49 PM
From: Metacomet3 Recommendations

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We have been wringing our hands over this impending doom for about a decade now..

..much of it as a result of the fiscal madness we know is being visited upon us by this out of control Obama administration

Except, the facts fail to support this original knowledge based assumption

About Our “Spending Problem” (Revisited)

It’s a well established fact that the Obama administration has been spending like a drunken sailor since the day he was inaugurated. I first wrote about his spendthrift ways here, toward the end of 2010 (has it already been three years?).

Some time has now passed, so how’s it going? Let’s take another look at Federal government spending – including and excluding defense – for the last five administrations, indexed to 100 in the first quarter of each administration.

First the overall picture:



Now, let’s strip out the defense portion:



Please think of these two charts the next time you hear someone say, “We don’t have a revenue problem, we have a spending problem.” Present these charts and ask precisely where that spending problem is.

What goes on at the state and local level also obviously impacts the trajectory of our economy, including GDP and our employment picture. While the Federal government does not have direct control of state and local economics, it is certainly a meaningful indirect influence, as Federal policies ripple through state capitals and subsequently through local town halls.

Here’s what that picture looks like over the past five administrations:



ritholtz.com
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