Budget Deficit Headed for New Record
Yes, the budget is a mess. Yes, we spend way too much. (I also believe that we tax too much, but that’s a different post.)
But when comparing budgets and deficits or anything relating to money, you had better compare apples to apples.
Bill Hobbs discusses how the deficit, while large, is not the largest when comparing it to the Gross Domestic Product.
The CBO numbers that everyone is wailing about aren’t even adjusted for inflation, for Pete’s sake.
In 1977, Star Wars broke all the box office records. After several re-releases, it has grossed over $480 million domestically. That broke (I believe) Jaws‘ record, which (also after re-releases) is currently at about $260 million. Makes Gone with the Wind’s $198 million look pretty paltry, doesn’t it?
If you look at the inflation-adjusted numbers, though, you’ll get a better idea of where films from different eras stack up against each other. GWTW is #1, followed by Star Wars, The Sound of Music, and E.T. the Extra-Terrestrial. Titanic, the all-time leader in unadjusted dollars, is #6. Spider Man is only #35.
I agree that the budget is too big. But at least do some homework and simple arithmetic before spouting off about it.