â€œWith the 2015 budget request,â€ The Washington Post reported last week, â€œObama will call for an end to the era of austerity that has dogged much of his presidency.â€
Well, itâ€™s about time! The end of austerity cannot come soon enough, writes A. Barton Hinkle. And a quick look at the historical budget tables shows why: In 2008, the federal government spent just a hair under $3 trillion. After six years of President Slash-and-Burn, spending has shrunk to almost $4 trillion. If we keep cutting like this, it will be down to $5 trillion before you know it.