On Wednesday, WA Sen. Patty Murray unveiled the first budget proposal from Senate Democrats in 4 years. Looking at the top-line numbers, it is easy to see why the Democrats were so coy with their spending plans. Virtually ignoring the debt crisis that is causing the public deep anxiety, the Democrats plan to boost spending by 62% over the next ten years.
Federal spending this year will top out at $3.6 trillion. At the start of the recession in 2007, federal spending was just $2.7 trillion. Under the Democrat’s plan, however, over the next ten years spending will rise sharply to $5.7 trillion, an increase of 62%.
This growth is far beyond what CBO has already estimated. The CBO regularly produces a “baseline” federal budget, estimating out many years. This baseline assumes yearly growth in spending, based on current law. The Democrats, however, plan spending increases far beyond this organic growth. Their budget blueprint provides over $600 billion in new spending beyond current law.
In other words, they take current law, which is already built on deficit spending, and pile more borrowing on top. Under the Democrat’s plan, the government will borrow an additional $7 trillion over the next ten years, lifting our overall debt to over $24 trillion.
After 4 years of shirking their responsibility to submit a budget, one would have hoped Senate Democrats at least would have taken to time to think seriously about right-sizing government. One would be wrong.