For any who doubt our ability to control spending, note that George W. Bush just proposed a 3.1 Trillion dollar budget for Fiscal Year 2009 starting on October 1 of this year. Note that Bush was the first President to propose a 2 Trillion dollar budget in 2002. So in just eight years the Federal budget has gone from 2 to 3 Trillion dollars. That is an increase of 50% in those eight years.
If the Federal budget continues to increase by 50% every 8 years here is what we can expect:
2.00 Trillion - FY 2002
3.00 Trillion - FY 2009
4.50 Trillion - FY 2017
6.75 Trillion - FY 2025
10.125 Trillion - FY 2033
Assuming our GDP can maintain a 4% growth rate during this time the GDP of the United States would look something like this:
13.194 Trillion - 2006
14.841 Trillion - 2009
20.311 Trillion - 2017
27.797 Trillion - 2025
38.043 Trillion - 2033
If these numbers hold Federal spending would rise from a projected 20% to 26.6% of GDP by 2033.
Edwards, Obama and Clinton have already proposed hundreds of billions, if not a trillion dollars of new spending in their campaigns. I don't recall how much spending McCain has promised but I do know it doesn't include any money for fences.
But, if the Federal budget has increased by 50% in eight years under a "compassionate conservative" Republican I think we can safely say a "good liberal" can double Federal spending every 3 to 5 years.
If we thought the last eight years were a disaster of fiscal irresponsibility, just wait for the next four.