The federal government loves to eat up more and more of our money. Back in the first few years of the 20th century our federal government usually spent about 3% of our money per year unless we were involved in a war, but now the percentage of GDP is up to almost 25%. It reminds me of the “Yum Yum Eat em up” short film I saw many years ago.
Federal Spending Is Outpacing Inflation
Everyone wants to know more about the budget and here is some key information with a chart from the Heritage Foundation and a video from the Cato Institute.
Prices of goods and services normally rise year to year, but federal spending has risen even faster. Although spending grew substantially after 9/11, less than half of the increase can be attributed to defense and homeland security spending.
YEAR-TO-YEAR PERCENTAGE CHANGE
Chart 4 of 42
Federal Spending Grew More Than Ten Times Faster Than Median Income
Total Government Spending Has More Than Doubled Since 1965In Depth
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Policy Papers for Researchers
- COMMENTARY ON DECEMBER 06, 2010Reversing the Trend to Spend
- WEBMEMO ON MARCH 01, 2011How to Fix the Federal Budget
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Technical Notes
The charts in this book are based primarily on data available as of March 2011 from the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO). The charts using OMB data display the historical growth of the federal government to 2010 while the charts using CBO data display both historical and projected growth from as early as 1940 to 2084. Projections based on OMB data are taken from the White House Fiscal Year 2012 budget. The charts provide data on an annual basis except… Read More
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Authors
Emily GoffResearch Assistant
Thomas A. Roe Institute for Economic Policy StudiesKathryn NixPolicy Analyst
Center for Health Policy StudiesJohn FlemingSenior Data Graphics Editor
Wild Man From Borneo – YUM YUM EEAAAAT EM UP!
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