Friday, February 13, 2009

A Foreboding Precedent

A few weeks ago I wrote that the most problematic part of the current recession is how recent government spending is bringing the Entitlement Crisis years nearer.

Perhaps I was wrong and the unprecedented budget deficit will be more significant in the long run. I do not think so, but now that Congress has learned it can get away with annually spending nearly 14% of the GDP it may become habit.

UPDATE: Apparently that graph is from this article.

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