Chart of the Day: A Taxpayer’s Guide to Skyrocketing Federal Spending

Republicans are gearing up for their latest round of deficit fever. Larry Kudlow previewed this yesterday with the usual blueprint ready at hand: deficits have nothing to do with tax cuts. It’s all about out-of-control spending.

We’re going to be hearing a lot more about this in the coming months, I’m sure, so I figured everyone would welcome a simple chart to help guide our way in this highly complex and technical debate. So here it is: our skyrocketing federal spending. Whatever will we do?