Thursday, February 26, 2009

Deficit figures

$1.75 trillion. Keep in mind that this is the same administration that convened a fiscal responsibility summit earlier this week.

The Club for Growth offers some perspective:
It is:
  • more than all taxes and other receipts collected by the federal government from 1789 through 1965.
  • essentially equal to all the taxes collected by the federal government in 2003.
  • more than all the deficits incurred from 1789 to 1985.
  • more than all the spending of all 50 state governments.
To balance such a budget, income tax collections would have to be 65% higher.
Words fail me. Keep in mind that the first one trillion dollar budget wasn't passed until the 1980s.

Update: And that's why they call them tax and spend liberals.

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