July 26, 2007 3:35PM 

# Trillion Dollar Man 

By [Chris Edwards](https://www.cato.org/people/chris-edwards) 

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The recent[budget update](http://www.whitehouse.gov/omb/)from the Bush administration shows that federal spending will be $2.918 trillion in fiscal 2008. That means that spending increases under Bush will break the $1 trillion mark when the new fiscal year begins in October. Spending was $1.863 trillion when he came to office in fiscal 2001.

Bush’s last budget year will be fiscal 2009, at which time he is projecting to spend $3.016 trillion. Thus in eight short years, with relatively low inflation, this president and spendthrift congresses will have blasted through both the $2 trillion spending mark and the the $3 trillion mark.

##### Related Tags 

[Tax and Budget Policy](https://www.cato.org/tax-budget-policy) 

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