Federal outlays and revenues, 1940-2015
The following chart shows federal outlays and revenues from 1940 to the proposed levels in 2015. The difference between the two equals the federal deficit or surplus.
Aside from specific policy initiatives, spending grows over time in order to accomodate a larger economy and population. Though many federal programs were cut during the 1990s, the outlays continued to increase as more people retired and Social Security payments grew. Recent growth in spending is due in large part due to increases in military spending.
Federal outlays and revenues, 1930-2015 as a percentage of the GDP
The following chart shows federal outlays and revenues from 1930 to the proposed levels in 2015 as a percentage of gross domestic product (GDP).
Viewing federal spending and revenues as a percentage of GDP indicates how large or small government is in relation to the economy.
Bring the Troops Home Now!
Those costs do not include the future medical costs of injured soldiers, the countless wrecked lives of US soldiers and the lives of millions of innocent civilians killed in the needless war in Iraq.
Bear in mind, I do not support the social agenda of the National Priorities Project. However, I would rather see any spending in the US than the needless destruction of lives and property around the globe.
The US cannot afford to be the world's policemen, and even if we could, I still would not support such needless destruction.
It's time to declare the war won and bring back all the troops.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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