Michael Linden - quoted facts & statistics

politics · State Beacon

Michael Linden, citing the Congressional Budget Office (CBO), stated that in January 2009, annual spending was set to total 24.9 percent of gross domestic product.

“In January 2009, before President Obama had even taken the oath of office, annual spending was set to total 24.9 percent of gross domestic product.”

24.9 % of GDP

politics · State Beacon

“Total spending this year, fiscal year 2012, is expected to top out at 23.4 percent of GDP.”

23.4 % of GDP

politics · State Beacon

“Back in January 2009, the CBO projected that total federal tax revenue that year would amount to 16.5 percent of GDP.”

16.5 % of GDP

politics · State Beacon

“This year? 15.8 percent.”

15.8 % of GDP

politics · State Beacon

“Back then, the CBO said the 2009 deficit would be 8.3 percent of GDP.”

8.3 % of GDP

politics · State Beacon

“This year’s deficit is expected to come in at 7.6 percent.”

7.6 % of GDP