Libertarians for Ron Paul

Cato Scholar Comments on Mid-Session Budget Review

Tuesday, July 29, 2008:  Chris Edwards, director of tax policy studies:

“The new budget estimates show that federal spending will top $3.13 trillion in 2009, up 68 percent from $1.86 trillion when the current president came to office in 2001. That increase is enormous — indeed it is more than twice the 32 percent increase under eight years of President Bill Clinton in the 1990s. The deficit is expected to rise to a record $482 billion next year and then decline and magically disappear by 2012, based on the usual phony accounting that we have become used to from this White House. However, the deficit can be, and should be, erased by major spending reforms and cuts, and that should be the top domestic priority of the next president.”

Source: http://www.cato.org/pressroom.php?display=ncomments&id=102