Spending Increases in Democrat's Budget Total $5.6 Trillion Over Next 10 Years

In the interest of considering the impact of deficit spending on inflation and inflation's impact on personal finances and retirement income:

1. Total outstanding government debt in 2007 when Democrats took control of both the House and the Senate: $4.8 trillion.
2. Projected budget surplus in 2019 if Congress had maintained the level of spending that existed when Democrats took power in 2007: $70 billion.
3. Proposed spending increases between 2009 and 2018 in President Obama's May budget proposal: $5.6 trillion.

In other words, the proposed spending increases over the next 10 years exceeds the total of accrued deficits over the past 200 or so years.

Source: Bloomberg

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