Daily Archives: February 5, 2013

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Out of control spending: fact or fiction

Is the problem out of control spending, or an economy not growing at full potential? This post will definitively answer that question.

Consider the following figures from the St. Louis Federal Reserve:

2007 Q4 GDP: $14 trillion
Revenue: $2.7 trillion
Outlays: $2.9 trillion

2008 Q2 GDP: $14.4 trillion
2009 Q2 GDP: $13.8 trillion
2010 Q2 GDP: $14.4 trillion
2011 Q2 GDP: $15.0 trillion

2012 Q4 GDP: $15.2 trillion
Revenue: $2.4 trillion
Outlays: $3.79 trillion

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