July 29, 2011

 

A Few Little Budget Facts
by Kevin Drum | Mother Jones (http://motherjones.org)

(July 26, 2011) As long as we're passing out facts today, here are some more. This chart shows federal spending over the past few decades as a percentage of GDP:

All numbers are from the OMB. The trend lines are pretty simple:

  1. Domestic discretionary spending and miscellaneous mandatory spending ("Other") is on a steady downward slope.
  2. Interest spending is on a downward slope.
  3. Defense spending has gone up over the past decade due to the wars in Iraq and Afghanistan, but otherwise is on a steady downward slope.
  4. Social Security is pretty flat.
  5. Medicare spending is up.

 

For the complete article, go to http://motherjones.com/kevin-drum/2011/07/few-little-budget-facts.