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Jun 4, 2012

Amazing 50 Years Of Government Debt & Spending. Federal spending has grown as fast as economy

Defense spending has shrunk significantly 

Medicaid, Medicare and other health services are the huge gainers here... Fifty years ago Medicare and Medicaid didn't even exist

Bonus Numbers! Federal spending has grown roughly as fast as the overall economy over the past 50 years. In 1962, federal spending was $707 billion and accounted for 18 percent of U.S. GDP. In 2011, federal spending was $3.1 trillion and accounted for 24 percent of GDP.

Government Spending - Breakdown Of 50 Years

Please continue reading at: http://www.npr.org/blogs/money/2012/05/14/152671813/50-years-of-government-spending-in-1-graph