Here is an interesting little graph. It represents US Federal revenue and spending since 1940.
There are only two things (at the moment) I would like to observe about this revenue/spending trend.
1) Throughout all the administrations from 1970 through 2012 has grown exponentially. At the beginning of the chart, 1940, an item costing $1 would now cost $16.71…that is a rate of inflation of 1570.6%. A purchase of $1 in 1970 would now cost $6.03 or an 502.8% increase. The US Federal budget has increased roughly 1266% from 1970 through today. Form your own conclusions about this.
2) Please notice the little blip just prior to 2000 when the blue line rose above the red line. That little abnormality is a short 3 year period of budgetary surplus…a nearly unheard-of phenomenon in the past 60 or so years.
What caused this blip? I hear the Democrats screaming the name of their hero, “Bill Clinton!!!”. Nope. Now we hear the Repubs calling loudly, “a Republican controlled Congress!!!”. Nope. Well, actually both are half right & half wrong.
The thing which caused this anomaly was the Combination of a Democratic Presidency and a Republican controlled Congress. It was a beautiful thing of which voters should have carefully taken note. When national parties have equal control, when neither can exercise a monopoly, the country as a whole is actually better served.