Google+
Close

The Corner

The one and only.

A Taxpayer’s Guide to the Federal Budget



Text  



Do you feel like the massive federal budget is a giant mystery? Ever wonder exactly where all the money goes, what is growing, and what (if anything) is being cut?

Fear no more. Heritage has released its annual “Federal Spending by the Numbers” report, which uses tables and charts to demystify the entire federal budget, including:

— How real federal spending will double from 2001 through 2020;

● How real federal spending will rise from $25,000 per household in 2007, to nearly $36,000 per household by 2020;

● How the federal budget evolved from mostly defense in the 1960s, to mostly entitlements today;

● A complete breakdown of the entire federal budget by program category – with recent growth rates;

● How domestic discretionary spending has grown twice as fast as defense discretionary spending since 1990;

● The permanent annual $13,000 per household tax hike (in today’s dollars and incomes) needed to pay for current Social Security, Medicare, and Medicaid commitments;

● A detailed breakdown of the biggest surge in antipoverty spending in American history;

● A 20-year history of earmark trends;

● A projection of where the Obama budget will leave spending, taxes, net interest, deficits and debt by 2020;

● A budget baseline that shows 100 percent of rising long-term deficits result from higher spending – none from lower revenues; and

● Three pages of infuriating examples of government waste that Congress and the White House continue to ignore.

“Federal Spending by the Numbers” is your easy reference guide for federal spending, taxes, and budget deficits.

– Brian Riedl is Grover M. Hermann fellow in federal budgetary affairs at the Heritage Foundation.



Text