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- Introduction
- Contents
- Federal Revenue
- Taxes & Tax Rates
- Federal Spending
- Budget Comparisons
- Projected Spending
- Download
- About
Contents
INTRODUCTION
I. FEDERAL REVENUE
- Current Federal Tax Receipts Near Historical Average
- Federal Government Tax Revenue Has Tripled Since 1965
- Corporate Income Tax Cuts Boost Federal Revenues
- Social Insurance Taxes Now Account for 34 percent of All Revenues
- Taxes per Household Have Risen Dramatically
- The Clinton Administration Oversaw the Highest Increase in Taxes per Household
- Social Insurance Tax Revenues Have Climbed Steadily
II. TAXES AND TAX RATES
III. FEDERAL SPENDING
- Federal Spending Has Increased Steadily Regardless of Congressional Leadership
- Since 9/11, Federal Spending Has Increased Much Faster Than Inflation
- Federal Government Spending per Household Is Near an All-Time High
- Federal Spending per Household Has More Than Doubled Since 1960
- Federal Spending Grew Nine Times Faster Than Median Income
- Non-Defense Discretionary Spending Increased Steadily While Defense Spending Fluctuated
- Despite War Costs, Defense Spending Falls Below Historical Average
- Mandatory Spending Has Increased Almost Five Times Faster Than Discretionary Spending
- Mandatory Spending Increased 759 Percent
- Mandatory Spending per Household Has Increased by Over $9,500 Since 1965
- Total Government Spending Has More Than Doubled Since 1965
- Medicare and Medicaid Spending Will Rise With Increasing Health Care Costs
- Social Security Spending Soon to Rise Rapidly
- Retired Workers Receive the Largest Share of Social Security Benefits
IV. REVENUE AND SPENDING COMPARISONS
- Federal Spending Is Growing Faster Than Federal Revenue
- Government Spending Grew Faster Than Revenues for Most Administrations
- All Recent Administrations Ran Up Budget Deficits
- Among Recent Administrations, President Reagan Stands Out as Most Willing to Use Veto
- FY 2008 Had the Second-Highest Number of Earmarks in History Despite the Change in Congressional Leadership
- Defense Spending Is on the Decline Despite the War on Terrorism
- Non-Defense Spending Growth Was Lowest Under the Reagan Administration
V. PROJECTED SPENDING
- Entitlement Spending Will More Than Double by 2050
- The Ratio of Elderly to Younger People Is Rapidly Increasing
- Mandatory Spending Consumes Growing Share of Total Spending
- Entitlements Alone Will Eclipse Historical Tax Levels by 2052
- Raising Taxes is Not the Solution to the Entitlement Spending Tsunami
- Entitlement Reforms are Needed to Control Spending
- Tax Burden Is Rising to Highest Level in History
- Public Debt as Share of GDP Is Below Historical Average
- Federal Budget Deficit Will Reach Levels Never Seen Before in U.S.
