D OUBLES THEN T RIPLES THE D EBT (D EBT H ELD BY P UBLIC IN B ILLIONS OF D OLLARS ) O BAMA FY2012 B UDGET O BAMA TAKES OFFICE F IGURE 1.

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D OUBLES THEN T RIPLES THE D EBT (D EBT H ELD BY P UBLIC IN B ILLIONS OF D OLLARS ) O BAMA FY2012 B UDGET O BAMA TAKES OFFICE F IGURE 1

D EFICIT U NDER O BAMA B UDGETS (D EFICIT L EVELS IN B ILLIONS OF D OLLARS ) F IGURE 2 O BAMA TAKES O FFICE

S PENDING C UTS ? S PENDING F REEZE ? (I N B ILLIONS OF D OLLARS ) F IGURE 3 O BAMA TAKES OFFICE

H ISTORIC T REND W ORLD W AR II C URRENT P OLICY 2010 T HE P ATH A HEAD : T IDAL W AVE OF D EBT (D EBT H ELD BY P UBLIC AS P ERCENTAGE OF GDP) F IGURE 4

1.6 T RILLION D OLLAR T AX I NCREASE IN O BAMA B UDGET (I N BILLIONS OF DOLLARS ) F IGURE 5

H ISTORICAL T AX A VERAGE = 18% H ISTORICAL S PENDING A VERAGE = 20.3% FY 2012 O BAMA B UDGET S PENDING T AXES E XPLOSIVE G ROWTH OF S PENDING D RIVES F ISCAL I MBALANCE F EDERAL T AXES AND S PENDING AS A P ERCENT OF GDP F IGURE 6

84 P ERCENT I NCREASE - N ON D EFENSE D ISCRETIONARY (BA IN B ILLIONS OF D OLLARS ) F IGURE 7