August 5, 2003

Not the Mother of Invention, but the Mother of Big Spending

The generally GOP-aligned Cato Institute released this report last week, which pretty much slams Bush's fiscal policies.

"The Bush administration's newly released budget projections reveal an anticipated budget deficit of $450 billion for the current fiscal year, up another $151 billion since February. Supporters and critics of the administration are tripping over themselves to blame the deficit on tax cuts, the war, and a slow economy. But the fact is we have mounting deficits because George W. Bush is the most gratuitous big spender to occupy the White House since Jimmy Carter. One could say that he has become the 'Mother of All Big Spenders.'
...
"But the real truth is that national defense is far from being responsible for all of the spending increases. According to the new numbers, defense spending will have risen by about 34 percent since Bush came into office. But, at the same time, non-defense discretionary spending will have skyrocketed by almost 28 percent. Government agencies that Republicans were calling to be abolished less than 10 years ago, such as education and labor, have enjoyed jaw-dropping spending increases under Bush of 70 percent and 65 percent respectively."
...
"That the nation's budgetary situation continues to deteriorate is because the administration's fiscal policy has been decidedly more about politics than policy [...]

Such blatant political maneuvering can only be described as Clintonian.

But perhaps we are being unfair to former President Clinton. After all, in inflation-adjusted terms, Clinton had overseen a total spending increase of only 3.5 percent at the same point in his administration. More importantly, after his first three years in office, non-defense discretionary spending actually went down by 0.7 percent. This is contrasted by Bush's three-year total spending increase of 15.6 percent and a 20.8 percent explosion in non-defense discretionary spending.
...
"Sadly, the Bush administration has consistently sacrificed sound policy to the god of political expediency. From farm subsidies to Medicare expansion, purchasing reelection votes has consistently trumped principle. In fact, what we have now is a president who spends like Carter and panders like Clinton." [emphasis added]

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