Vote Facts Logo
PayPal - The safer, easier way to pay online!

Federal Spending – Fast Facts

All fast facts for Federal Spending are from the non-partisan Congressional Budget Office (CBO), the National Commission on Fiscal Responsibility and Reform (NCFRR), and the Office of Management and Budget (OMB), and the U.S. Government Accountability Office (GAO). They do not represent all of their reports on this subject. Some simply provide historical context. Occasionally minor word adjustments may have been made for clarity or to reflect the updated nature of the statement. As always, verify and view statements in their full context as often as possible.

Mandatory spending is projected to increase by 2.5 percent in 2013 and then to grow at an average rate of 6 percent annually, reaching 14.3 percent of GDP in 2022, about 1 percentage point higher than projected for 2012. Social Security, Medicare, and Medicaid account for more than 90 percent of the growth in mandatory outlays over the projection period.    Click here to verify at Page
Federal spending rose by 4 percent in 2011, to $3.6 trillion—a rate of increase that is significantly less than the nearly 7 percent average rate of growth in federal outlays over the previous 10 years.  Click here to verify at Page 4
Despite the near-term economic benefits that would arise from reductions in taxes and increases in government spending, such actions would add to the already large projected budget deficits, either immediately or over time. Unless offsetting actions were taken to reverse the accumulation of additional government debt, the nation’s capital stock, its future output, and people’s future incomes would tend to be lower than they otherwise would have been.  Click here to verify at Page 4
Higher debt tends to imply lower output and income in the long run than does lower debt, because increased government borrowing generally draws money away from, or “crowds out,” private investment in productive capital.   Click here to verify
The aging of the population and rising costs for health care will push spending for Social Security, Medicare, Medicaid, and other federal health care programs considerably higher as a percentage of gross domestic product (GDP). If that rising level of spending is coupled with revenues that are held close to the average share of GDP that they have represented for the past 40 years, the resulting budget deficits will increase federal debt to unsupportable levelsClick here to verify at Page 1
Pages 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27

 

Home
Your Vote
In The News
Search Page
About
Contact
© 2014 VoteFacts LLC, all rights reserved.

Voting Key


Fact = 100% - 92% True
Mostly Fact = 91% - 75% True
Slightly Fact = 74% - 60% True
Split = 59% - 50% True
Slightly Fiction = 49% - 30% True
Mostly Fiction = 29% - 10% True
Fiction = 9% - 0% True