Spending
This is how much the government spent this past year.
What is $7 TRILLION?
Decreasing regulations often helps increase this.
What is business growth (or entrepreneurship or small business ownership)?
This was the first year that America had a National Debt.
What is 1776?
This is now higher than our GDP.
What is our National Debt?
This is the amount owed by each American towards our national debt.
What is $107,000?
This is the fourth largest spending category in our federal budget and has often contributed to unexpected (and unbudgeted) increases in our spending.
What is Defense spending?
In this taxation system, low-income earners pay a smaller percentage (sometimes even negative) of income tax than high-income earners.
What is a Progressive Tax System?
This program began as a limited social insurance program only for workers in the 1930's but has morphed into a large, poorly-funded welfare program that pays out to disabled people and family members of workers now.
What is Social Security?
This debt-to-GDP ratio is considered the tipping point past which America will not be able to recover economically.
What is 122%?
This is what our current National Debt is.
What is $36 TRILLION?
This is the largest category of government spending, at $1.68 TRILLION annually.
What is healthcare?
This is how much revenue was paid to the federal government in taxes this past year?
What is $5 TRILLION?
This is the reason that we didn't have a budget surplus in 2002 (or even a balanced budget) even though we had a budget surplus in 2001.
What is 9/11 (or the War on Terror)?
This is our current debt-to-GDP ratio.
What is 106%?
This is what our current GDP is.
What is $30 TRILLION?
This is the 3rd largest category of spending in our federal budget at $1.03 TRILLION.
What are interest payments on the National Debt?
In this taxation system, all income earners pay the same percentage of income tax, regardless of income level; and there are usually no subsidies, deductions, or loopholes.
What is a Flat Tax System?
This is how we 'borrow' money to pay for our budget deficits?
What is sell US Treasury bonds and bills?
This is how much US debt is owned by foreign countries.
What is $9 TRILLION?
This was what our budget deficit (the shortfall between our spending and our revenue) was this past year?
What is $1.8 TRILLION?
This is the second largest spending category in our annual budget at $1.51 TRILLION.
What is Social Security?
This is source of tax revenue paid by employers, not employees.
What are payroll taxes?
This was the last year that America had a budget surplus.
What is 2001?
Once the debt-to-GDP ratio goes over this percentage, a country's economy begins to slow down.
What is 77%
This is the amount of debt owed by every working taxpayer in America.
What is $323,050?