Seems to be a big question among economists who think economic growth must come from Congress. Let's look at Federal spending divided by personal income:
The Clinton administration left office with federal spending equal to 22% of personal income. Bush, the Communist, ran it up to 24%, and now Obama and his Keynesians have it at 30%. Have we hit the limit? Krugman says no, but the states are bankrupt, their taxpayers are disappearing. California pays something like 7% for 30 yr bonds. California is Greece, so says the Gubinator. We have reached the limit.
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