Spending Restraint?
(in Billions of Dollars)
(in Billions of Dollars)
Obama FY2010 Budget
5,500
5 500
5,000
4,500
4,000
3,500
3,000
3 000
2,500
2,000
1,500
1,000
500
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019

Expanding the Size of Government
(Government Spending as Percentage of GDP)
(Government Spending as Percentage of GDP)
31
Historical Average
g Obama Administration FY2010 Budget
g
29
27
25
23
21
19
17
15

President s FY2010 Tax Increases
President’s FY2010 Tax Increases
Other
$149 Billion
Cap and Trade
$646 Billion
$1,431,000,000,000
$1 431 000 000 000
Small Business
and Investors
$636 Billion
$636 Billion

Tax Cuts for 95% of Americans?
Tax Cuts for 95% of Americans?
Make Work Pay Tax Credit = ‐$800
Impact of Cap and Trade* = +$1,600
Net Tax Increase per Family = +$800
* CBO Estimate

Deficit Under Democratic Budgets
(Deficit Levels in Billions of Dollars)
(Deficit Levels in Billions of Dollars)
2,000
Republican Budgets Democratic Budgets
1,800
1 800
1,600
1,400
$ Billion
n
1,200
1,000
800
600
400
200
0
OMB Estimate

Doubling the Debt Held by the Public
(in Billions of Dollars)
(in Billions of Dollars)
16,000
14,000
14 000
12,000
10,000
10 000
8,000
6,000
6 000
4,000
2,000
0
00
01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
18
19
200
200
200
200
200
200
200
200
200
200
201
201
201
201
201
201
201
201
201
201
OMB Estimate

Future Debt Burden
(Debt Held by Public as Percentage of GDP)
(b ld b bl f )
250
Actual
ctua Democratic Budgets*
e oc at c udgets
200
150
100
50
0
1940
0
1944
4
1948
8
1952
2
1956
6
1960
0
1964
4
1968
8
1972
2
1976
6
1980
0
1984
4
1988
8
1992
2
1996
6
2000
0
2004
4
2008
8
2012
2
2016
6
2020
0
2024
4
2028
8
2032
2
2036
6
2040
0
* ‐ ‐ ‐ Out‐years based on CBO’s Long‐Term Projections

Family Energy Budget in 2012
y gy g
Cost with Cap & Trade
Cost without Cap & Trade
$1,415
$1,303 $1,786
(+ 9%)
$1,536 (
(+ 16%)
)
$1,236
$1,082
(+ 14%)
Gasoline Nat. Gas Electricity

Doubling the National Debt
(Billions of Dollars)
(Billions of Dollars)
25,000
20,000
15,000
10 000
10,000
5,000
0
00
01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
18
19
200
200
200
200
200
200
200
200
200
200
201
201
201
201
201
201
201
201
201
201
OMB Estimate

Cap and Trade = 1.5 Million Jobs Lost
(Cumulative Job Losses Per Year)
(Cumulative Job Losses Per Year)
1,600,000
1,400,000
1,200,000
1,000,000
800,000
800 000
600,000
400,000
200,000
0
2011 2012 2013 2014 2015

President’s Entitlement Spending Increases
Other
$38 Billion
Refundable Tax
R f d bl T
Credit
$326 Billion
Physician Payment
Increases
$330 Billion
$,
$1,012,000,000,000
, , ,
Health Care
Spending Financed
p g
with Taxes
$318 Billion