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  • INFOGRAPHICS: Federal Spending by the Numbers 2012

    Several key questions still remain to be asked of President Obama and Governor Mitt Romney during tonight’s debate. Among them: What would each of them do to reduce the growing burden of federal spending on American households?

    In 2012, the federal government spent $29,700 per American household. Of that amount, $9,400 was deficit spending. Put another way, $3.20 out of every $10 spent was borrowed.

    These facts and more are available in a new Heritage report: “Federal Spending by the Numbers 2012.

    In 20 powerful graphics and four detailed tables, “Federal Spending by the Numbers 2012” analyzes government spending trends in the past and future. Heritage experts explain where the federal government spends the most, which areas of the budget have grown the fastest, and when the entitlements and net interest begin to overwhelm all other federal spending. Specific examples of government waste are featured at the end.

    By 2025, the major entitlements and net interest will grow to 18.5 percent of gross domestic product (GDP), devouring all tax revenue at the historical average level. (continues below chart)

    Net interest is already the fifth-largest budget category today—after Social Security, national defense, and federal health care spending such as Medicare and Medicaid. This is especially alarming because interest rates are at historical lows. Were interest rates to increase, this situation would dramatically worsen.

    Medicare is the fastest-growing major entitlement, ballooning by 68 percent in just 10 years, from $285 billion in 2002 to $478 billion in 2012. (continues below chart)

    Obamacare’s $1.7 trillion in new spending will increase federal health care spending by 15 percent. This will bring total government health care spending (including state and local) to more than 50 percent of all health care spending in the U.S. in less than 10 years. (continues below chart)

    Federal health care is also the area most prone to government waste. As described in the Heritage report:

    In 2011, the federal government wasted $115.3 billion of taxpayers’ money in improper payments: money paid in the wrong amount, to the wrong person, or for the wrong reason. Most of these excess payments—$107 billion, or 93 percent—were in just 10 programs, including Medicare fee-for-service ($28.8 billion) [and] Medicaid ($21.9 billion).

    Find all these facts, charts, and more, in “Federal Spending by the Numbers 2012.”

    Posted in Featured, Obamacare [slideshow_deploy]

    One Response to INFOGRAPHICS: Federal Spending by the Numbers 2012

    1. Mary Hughes says:

      Not to always yell sour grapes but it's getting reduntant. Tonight with CNN : Crowley was no exception. I thought Obema and Crowley were falling all over them selves in their attack. And the audience was so Democractically positioned it was just sad. Perhaps there were some favoring Romeny, and they were simply not called upon by Ms. Crowley. Still Mr. Romeney held his own, and he didn't resort to out right lying. It was astonding to watch, (normaly I don't watch Obema) Obema stand and straight face LIE into the camera without anyone say or squirm or Mrs. Crowley intercede. If the people who vote for Obema continue to vote for him, they are either: socialist, uneducated in history and economics or simply want to see our country as we have known it fail into a third world socialist/communist country. It's very sad that so many, many good men and women have fought and died for something so precious. They simply don't deserve to be able to kiss this country's shores or saluate our flag. Thank you, May Our God Bless America.

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