It has become increasingly clear that the Obama-era Democrats view every major societal event as a new invitation to spend money, centralize power, or both. The horrendous shootings in Connecticut have the Democrats lobbying not only for new legislation, but new federal legislation — and hence more federal power — rather than entrusting the passage of any such legislation to the states. Meanwhile, the damage from Hurricane Sandy has the Democrats looking to do the only thing that they might enjoy even more than enacting cumbersome legislation — spending borrowed money.
In the John F. Kennedy years — back when we didn’t spend $11 for every $7 collected (as we have under Obama), and when the defense budget made up nearly half of all federal spending — the $60.4 billion that the Democrats now want to spend in response to Sandy would have funded the entire federal government for nearly a month.
According to official White House tallies (see table 1.3), the federal government spent $111.3 billion in 1963, or $832.9 billion in constant 2012 dollars. That works out to $69.4 billion a month — after adjusting for inflation.
With JFK in the White House in 1963, our inflation-adjusted national debt was $0.3 trillion — or $2.3 trillion in today’s dollars. With Obama in the White House in 2012, our national debt is now $16.4 trillion — more than 7 times higher (in inflation-adjusted dollars) than under JFK and a whopping $7 trillion higher than it was just five years ago.
Is it any wonder why? From their insatiable and unsustainable spending, to their preference for tax hikes over tax cuts, to their emphasis on redistributing wealth over promoting economic growth, to their determination to pursue an earthbound space policy over one that inspires the nation and leads the world, the Obama-era Democrats bare increasingly little resemblance to the Democrats of JFK.