Wednesday, October 12, 2005

Lyndon Bush Johnson

I ran across this very interesting statistic today from Reason Online via Josh Marshall. It's a listing of changes to discretionary spending during Presidential administrations:
First Five Years, Percentage Changes in Real Discretionary Spending

LBJ: 25.2%
Nixon: -16.5%
Reagan: 11.9%
Clinton: -8.2%
Bush: 35.2%
Ok. Remind me again. Which party is the fiscally responsible party and which is the party of spending?

It's my sense that LBJ's policy of "guns and butter" during Vietnam can be widely credited with the economic mess in the 70's.

Gee. I wonder what the economy will be like in the next ten years


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