Eight Charts that Show the Growth in Government
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CHART 1: Federal Government Has a Spending Problem, Not a Revenue Problem
CHART 2: Major Regulations Soaring
CHART 3: Federal Spending per Household Projected to Rise
CHART 4: All Tax Revenue Will Go Toward Entitlements and Net Interest by 2031
CHART 5: Publicly Held Debt Set to Skyrocket
CHART 6: Each American’s Share of the Public Debt is Skyrocketing
CHART 7: Sequestration Does Little to Reduce Total Federal Spending
CHART 8: Looking Ahead: Comparing 10–Year Federal Budgets
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CHART 1: Federal Government Has a Spending Problem, Not a Revenue Problem
In the aftermath of the Great Recession, federal revenues plummeted, and spending rose dramatically due to the stimulus. As the economy has slowly improved, revenues have nearly returned to the pre-recession average. Spending has decreased as well, but it is still far above average and rising.
Note: Pre-recession averages are for 1965–2008.
Source: U.S. Office of Management and Budget, Budget of the United States Government, Fiscal Year 2015: Historical Tables, 2014, Table 1.2, (accessed January 16, 2015).
CHART 2: Major Regulations Soaring
NUMBER OF PLANNED REGULATIONS EXPECTED TO COST AT LEAST $100 MILLION A YEAR
Source: Offi ce of Management and Budget, “Unified Agenda and Regulatory Plan Search Criteria,”(accessed January 21, 2015).
CHART 3: Federal Spending per Household Projected to Rise
The federal government spent nearly $29,000 per household in 2014, and that figure is projected to rise to more than $47,000 per household in 10 years.
Note: Figures are in current dollars.
Source: Congressional Budget Office, “An Update to the Budget and Economic Outlook: 2014 to 2024,” August 2014 (accessed September 17, 2014).
CHART 4: All Tax Revenue Will Go Toward Entitlements and Net Interest by 2031
In less than two decades, all projected tax revenues would be consumed by three federal programs (Medicare, Social Security, and Medicaid, which includes CHIP and Obamacare) and interest on the debt.
Sources: U.S. Office of Management and Budget, Budget of the United States Government, Fiscal Year 2015: Historical Tables, 2014, Tables 8.4, 8.5, and 10.1, (accessed January 16, 2015), and Congressional Budget Office, The 2014 Long-Term Budget Outlook, July 14, 2014 (accessed January 16, 2015).
CHART 5: Publicly Held Debt Set to Skyrocket
Runaway spending on Medicare, Medicaid, and Social Security will drive federal debt to unsustainable levels over the next few decades. Total national debt comprises publicly held debt (the most relevant to credit markets) and debt that one part of the government owes to another, such as the Social Security Trust Fund.
Source: Congressional Budget Office, The 2014 Long-Term Budget Outlook, July 14, 2014, Supplemental Data (accessed January 16, 2015).
CHART 6: Each American’s Share of the Public Debt is Skyrocketing
As Washington continues spending well beyond its means, it is burdening all Americans with increasing levels of debt. We must cut spending to fix the debt.
Sources: U.S. Office of Management and Budget, Budget of the United States Government, Fiscal Year 2015: Historical Tables, 2014, Tables 8.1 and 10.1 (accessed January 20, 2015); Congressional Budget Office, The 2014 Long-Term Budget Outlook, July 14, 2014, Supplemental Data (accessed January 20, 2015); U.S. Census Bureau, “2012 National Population Projections,” Summary Tables (accessed January 20, 2015); and U.S. Census Bureau, “No. HS-1: Population 1900–2002,” (accessed January 20, 2015).
CHART 7: Sequestration Does Little to Reduce Total Federal Spending
Without sequestration, total federal spending was projected to grow 76 percent from 2013 to 2023. With sequestration the projected growth is 74 percent—a difference of about 2 percentage points.
Source: Congressional Budget Office, Updated Budget Projections: Fiscal Years 2013 to 2023, Alternative Fiscal Scenario, May 2013 (accessed May 15, 2013).
CHART 8: Looking Ahead: Comparing 10–Year Federal Budgets
President Obama’s budget proposal increases spending far more than the House-passed plan and seeks spending hikes above current projections as shown in the Congressional Budget Office baseline.
Sources: Congressional Budget Office, “An Update to the Budget and Economic Outlook: 2014 to 2024,” August 27, 2014 (accessed January 15, 2015); House Budget Committee, The Path to Prosperity: Fiscal Year 2015 Budget Resolution, April 2014 (accessed January 15, 2015); and U.S. Office of Management and Budget, Budget of the United States Government, Fiscal Year 2015: Historical Tables, 2014 (accessed January 15, 2015).