Thursday, April 12, 2012

Dick Lugar's Fiscal Reality

Monthly Federal Surplus/Deficit (blue, right axis) and Total Federal Government Debt (red, left axis) since 1977
Dick Lugar was first elected to the US Senate in 1976 and began his career in Washington, DC, in January of 1977. As the chart above from the St. Louis Federal Reserve illustrates, there have been a few budget deficits on his watch--and a couple surpluses. Here are some fun facts about the fiscal reality confronting Dick Lugar as he faces a tough May 8th primary against Tea Party favorite Richard Mourdock:

  • Total federal debt when Lugar went to DC in 1977: about $670 billion
  • Total federal debt now (via US Debt Clock): about $15.64 trillion
  • Before the May 8 Indiana primary, $15 trillion of new debt will have been added on Lugar's watch
  • Total 2012 fiscal deficit to date (10/1/11 thru 3/31/12): $779 billion
  • That's over $100 billion more than the total accumulated debt of the US when Lugar arrived in DC in 1977
Dick Lugar has failed to reign in government spending. It's time for Richard Mourdock.

Update: Thanks to Smitty at the OtherMcCain for the link!

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