The big problem with Obama's economic plan.

[steven787]

TheRealMafoo said:

steven787 said:

In Nominal/Real(2008) Trillions of US$

Projected fiscal 2009
Revenue: 2.77/NA
Spending: 3.10

2008:
R: $2.66/2.66
S: $2.9


2007:
R: $2.4/2.51
S: $2.8

2006
R: $2.2/2.32
S:$2.7

Notice that those numbers do outpace inflation but not real GDP growth (~2.2% for the past few years averaged) or deficit spending.

Thanks Steven. Where did you get these numbers? How far back can you get them for?

 

 

 

It wasn't posted to prove you right.  While fundamentally the statement that "tax revenue went up" is true, it doesn't compare well when you include GDP growth.

Despite taxes being low, growth has been slow and tax revenues still do not keep up with them.

The defecit is sickening.  I have never seen such a bad annual defecit at the same time as real income going down.

I got the Nominal numbers from the federal budget published every year all over the web.  The real dollars I figured out with a calculator and a very generous CPI measure.