Spending and regulation together, then, consume 53.9 percent of national income.As compared with when President Bush assumed office in 2001, federal spending consumes three more days of your life, while federal regulations (which had remained stable for the previous four years) take another full day. State and local spending consume another six days just since 2003.
Here's the kicker. The economy has grown by $2.9 trillion since 2003, and tax revenues have increased by $785 billion. But spending has grown much more sharply. "Had the federal government limited federal spending to grow only as rapidly as the economy since 2000, Mr. Norquist writes, "the budget would have been balanced by 2006 and in surplus today."
Can government that takes more than half the national income produced by productive and hard-working people be sustained much longer?
gg everyone.
http://www.ocregister.com/articles/spen … ederal-day
