More data on debt crisis

The folks over at the blog Political Calculations (see here) have an interesting post with graph on the debt issue (click on graph to enlarge).

They state that:

At its peak in 2009, we find that the gap between the federal government's spending and its tax collections is much more heavily weighted toward the side of excessive spending. With spending accounting for approximately 62% of the pre-crisis gap, we find that excessive spending by the U.S. federal government in the years since 2007 is primarily responsible for the current debt crisis.