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Comparing Earmarks: Measure Against GDP
The NYT ran a piece showing the decline in earmarks in spending bills over the last three years. The article shows the dollar value of earmarks fell by more than 10 percent from 2005 to 2008. It would have been useful to compare the value of earmarks to GDP. Since nominal GDP rose by more than 15 percent over this period, the value of earmarks relative to GDP fell by more than 25 percent over this period.
It also would have been worth mentioning that the total value of earmarks for 2008 is projected to be less than $17 billion, approximately 0.5 percent of total spending. Even if earmarks were eliminated entirely, it would not have a very large impact on the budget.
--Dean Baker
COMMENTS (4)
I wish that everytime that earmarks were mentioned, it would also be stated that there is not one dollar of additional spending involved. Earmarks are only directions about who gets the money that was allocated in the budget earlier.
Posted by: Robert W. Mann | January 23, 2008 7:32 AM
On a different topic (earmarks), Greg Mankiw likes a political hit job by Paul Kane of the WaPo. Over at Angrybear, I try to learn from the master by taking earmarks in NY and Ill. relative to GSP. Consider this my Valentine's gift and maybe you'll cover Kane's piece tomorrow!
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