Dear Editor:
In FY2008 the federal government spent $2.982 trillion (20.2 percent GDP). $616 billion (4.2 percent GDP) of the spending was for national defense. The deficit was $458 billion (3.2 percent GDP). There were nearly 200,000 troops stationed in Iraq and Afghanistan. Unemployment averaged 5.3 percent.
In FY2009 the impact of the Bush "bailout" package hit. The federal government spent $3.5 trillion (24.4 percent GDP) and ran a deficit of $1,423 billion (10.1 percent GDP)
In FY2010 the impact of the Obama "stimulus" package hit. The federal government spent $3.4 trillion (23.4 percent GDP) and ran a deficit of $1,294 billion (9.0 percent GDP). Originally the "stimulus" package was forecast to cost $787 billion; in 2012 the Congressional Budget Office estimated that the "stimulus" package would cost us $831 billion by 2019. A big part of the "stimulus" package was funding infrastructure improvements. Remember all the "shovel ready" projects Obama had lined out?
In FY2016 the federal government spent $3.854 trillion (21.0 percent GDP). $595 billion (3.2 percent GDP) of the spending was for national defense. The deficit was $587 billion (3.2 percent GDP). There are less than 10,000 troops stationed in Iraq and Afghanistan. Unemployment has been 5 percent, or below, for the past 13 months.
Even with the dreaded sequestration "cuts" federal spending is forecast to increase every year for the foreseeable future. Before I am willing to support ANY increased federal spending I want politicians to explain to me what the heck government is doing with all the increased spending since 2008! I would like to see federal spending cut to less than 18 percent of GDP, as it was when we had budget surpluses during the Clinton years. With spending limited to 18 percent of GDP we could have balanced budget again, with no tax increases.
In Oregon a federal judge has ruled that a group of kids can sue the federal government and the "fossil fuel industry" over climate change. The lawsuit claims that the federal government is "violating the Plaintiffs' constitutional and public trust rights," by not doing more to stop man-made climate change. Where is the attorney who will take the case of our children who are being buried under a mountain of public debt? All future generations will be burdened paying the interest on that debt.
__________
Issue-oriented letters to the editor are welcome. All letters should be limited to 400 words; letters may be edited to conform to guidelines. The author's name must appear with the letter, and the name, address and phone number provided for verification. Letters that cannot be verified by telephone will not be published. Email to [email protected].