Federal Budget in Pictures

Deficits Are a Result of Too Much Spending-Not Too Little Revenue

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Federal spending is projected to grow at a rapid pace beyond the 10­year budget window as spending on interest on the debt, health care programs?such as Medicare, Medicaid, and Obamacare?and Social Security reach unsustainable levels without reforms. Deficits will explode because of higher spending, even as tax revenues exceed their average historical level.

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PERCENTAGE OF GDP

Deficits Are a Result of Too Much Spending-Not Too Little Revenue

Source: Congressional Budget Office.