No Surprise: Government Spending Up 21% in Two Years

Posted on October 14, 2010

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But… but… it’s not enough!

I thought all that spending was supposed to save the economy? I guess we’re just not spending quite enough. That, or the massive spending, borrowing and printing of money is actually having an adverse effect on economic growth.

Once again domestic accounts far and away led the increases. Medicaid rose by 8.7%, and unemployment benefits by an astonishing 34.3%—to $160 billion. The costs of jobless insurance have tripled in two years. CBO adds that if you take out the savings for deposit insurance, funding for all “other activities” of government—education, transportation, foreign aid, housing, and so on—rose by 13% in 2010.

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