The Data Prove Government Is Spending Too Much
Live MintThe U.S. national debt recently passed $33 trillion, more than 120% of gross domestic product. Total annual federal spending rose 69.4% during the decade, more than three times as fast as the 21.6% increase in the rate of population growth plus inflation. Had the federal government limited the growth in spending to a maximum of the population growth rate plus inflation during that decade, in 2022 the federal government would have spent $1.6 trillion less than it did, resulting in at least a $200 billion surplus. If state governments had limited spending growth to the rate of population growth plus inflation during the last decade, they would have spent $1.39 trillion in 2022, $344 billion less than the $1.74 trillion they actually spent. Our project defines each state’s overspending problem by providing a dollar-figure spending ceiling and allowing anyone to see how government spending in a state has grown relative to the rate of population growth plus inflation.
History of this topic
Poll: Cut federal spending — but not big-ticket programs
Associated Press
A huge California budget surplus will test legal spending limit, analysts warn
LA Times
States rebound from bleak forecasts to pass record budgets
Associated PressDiscover Related
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