Peter Eavis analyzes Bush’s big spending ways, why no one seems to care, and what could have been done about it, had he acted sooner.
- Under his administration, the national debt has gone up a stunning 24 percent, to $7 trillion. A chief reason for that increase is that Bush has enthusiastically promoted an explosion in government spending. In 2004, federal government outlays are expected to exceed $2.3 trillion, which is $500 billion more than in 2000. At nearly $500 billion, the budget deficit is close to 4.5 percent of gross domestic product, the sort of ratio usually seen in developing countries that are about to implode.
