On the recordApril 14, 2010
That is really, really a frightening prospect. The thing that I find interesting about this, what we are doing is we are reducing our defense spending. Here is a chart of the budget that would reduce our national defense spending. These are numbers that were released by the Obama administration. This is the 45-year average at 5.3 percent. And what you can see is it is being reduced here. Now, the thing that is amazing, this wouldn't be so troubling to me if it weren't for the fact if you took a look at what rate we are spending money. Bush's worst spending year was 2008 under the Pelosi Congress here. 2008. And that was about $450 billion he spent that we didn't have, which put us, that is about 3.2 percent of gross domestic product. This last year, 2009, instead of being $450 billion, it was $1.4 trillion in spending that we didn't have. That was more than a three times increase over Bush's worst spending. And that goes up to 9.9 percent of GDP, which is the highest level since World War II. So we are spending money that we don't have at an incredible rate. Take a look at what is happening to defense here. This is a wrongheaded set of priorities and very troubling.
