FreedomTalks

Our friend Robert Bluey has a good post about Heritage Foundation’s new federal spending book of charts examining where our money is going. You can view the new charts here.

He notes,

• Anyone who follows the debate over congressional earmarks probably heard that the Pig Book shrunk in size this year. That’s because earmarks are down significantly thanks to a moratorium in Congress. Will it last? That’s a question only the Democrats can answer. Republicans certainly couldn’t hold back — particularly during the Bush presidency.

• It’s no secret the tax burden on individuals will spike sharply in just a few years — even if Bush’s tax cuts are extended. But did you know the United States is on course to exceed the highest tax burden in history in just about 10 years?

• The chart that surprised me most highlights defense spending as percentage of GDP — an issue I recently noted in the context of former Sen. Jim Talent’s National Review cover story. Despite the cost of the Iraq War, our defense spending today is below the 45-year historical average and falls significantly short of Cold War and Vietnam War levels.

This entry was posted on Wednesday, March 14th, 2007 at 9:27 am and is filed under U.S. Budget. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.