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No, you aren't accounting for inflation. In constant 2012 dollars, US spending was $2T in 1977 and $2.2T in 1980. It was $3T in 1988. It was $3.5T in 1992. htt

No, you aren't accounting for inflation. In constant 2012 dollars, US spending was $2T in 1977 and $2.2T in 1980. It was $3T in 1988. It was $3.5T in 1992. https://www.usgovernmentspending.com/spending_chart_1970_2017USk_23s0li011lcny_F0t_Total_Spending_Since_1900_In_Constant_Dollars https://www.usgovernmentspending.com/spending_chart_1970_201...

SpicyLemonZest 5y ago
It’s not obvious to me that it’s right to inflation adjust the numbers here, since one of the main arguments people make against large government spending is that they think it causes inflation.
- JamesBarney 5y ago
  Do you really believe that when were are looking at the effects of deficit spending (such as inflation, debt, growth) the absolute number of dollars in the deficit is more important than an inflation or gdp adjusted number? Imagine we passed a law that only made one tenth of currency still viable, and reduced the size of all owed debts and contacts denominated in dollars by 10x. Effectively making the dollar 10x more valuable. This would cut our absolute deficit spending by 10x. Would this then let us increase inflation adjusted government spending by 10x without suffering any ill effects from deficit spending? The obvious answer to that is no, which then implies inflation or gdp adjusted deficit spending is a far more important metric.
- CalChris 5y ago
  No, 70s inflation had nothing to do with Carter. Inflation in the 70s preceded Carter. There was the oil crisis. It preceded that. Nixon ordered price controls ... in 1970. No, 70s inflation had nothing to do with Carter's 'spending'. Carter's spending as a percentage of the GDP decreased from 1977 (19.65%) to 1979 (19.18%). It increased in 1980. In no real universe was Carter anything but a fiscal conservative. In no real universe were Reagan and Bush anything but profligate.
  - loonster 5y ago
    Nixon ending the gold standard didn't help.

SpicyLemonZest 5y ago

It’s not obvious to me that it’s right to inflation adjust the numbers here, since one of the main arguments people make against large government spending is that they think it causes inflation.

JamesBarney 5y ago
Do you really believe that when were are looking at the effects of deficit spending (such as inflation, debt, growth) the absolute number of dollars in the deficit is more important than an inflation or gdp adjusted number? Imagine we passed a law that only made one tenth of currency still viable, and reduced the size of all owed debts and contacts denominated in dollars by 10x. Effectively making the dollar 10x more valuable. This would cut our absolute deficit spending by 10x. Would this then let us increase inflation adjusted government spending by 10x without suffering any ill effects from deficit spending? The obvious answer to that is no, which then implies inflation or gdp adjusted deficit spending is a far more important metric.
CalChris 5y ago
No, 70s inflation had nothing to do with Carter. Inflation in the 70s preceded Carter. There was the oil crisis. It preceded that. Nixon ordered price controls ... in 1970. No, 70s inflation had nothing to do with Carter's 'spending'. Carter's spending as a percentage of the GDP decreased from 1977 (19.65%) to 1979 (19.18%). It increased in 1980. In no real universe was Carter anything but a fiscal conservative. In no real universe were Reagan and Bush anything but profligate.
- loonster 5y ago
  Nixon ending the gold standard didn't help.