Long Term Spending Continues to Increase

Last Monday the Obama Administration released its budget for the upcoming fiscal year, FY 2011.  When compared to projections from last year’s budget, this budget calls for increased government spending not only this year, but also into the future.  In fact, in the period between 2011 and 2019, the FY 2011 budget proposes an additional $1.5 trillion in spending over the spending projected for this time period in the 2010 projections.  Spending is projected to remain well above long term average rates of government spending, both now and into the future.

For more about the budget, check out Veronique's piece "All the President's Budget Assumptions" at Reason.com.