US Government Spending Must Fade to Black
March 4th, 2010 No Comments »
Author: Joe DelCasino
Four key numbers – government spending, federal tax revenue, the budget deficit, and national debt – provide important and sobering insight into our current fiscal health. 2010′s raw numbers are dramatic and mind boggling to the point of distraction, but relating them to our $14.3 trillion Gross Domestic Product (GDP) make them relevant, easier to comprehend, and relatable to one another. Those ratios are as follows: government spending/GDP is 28%; federal tax revenue/GDP is 16%; the budget deficit/GDP is 12%; and the national debt/GDP is 85%.