Government

Now that you have paid your taxes …

Here is where your money goes. Note that the vast majority goes for non-discretionary spending like Social Security and federal health care programs. Note also that 8% goes toward benefits for federal employees and veterans. A small amount goes toward what most Americans call foreign aid.

Especially note the 6% that goes to interest on debt, a debt which even now grows by $500,000,000,000 a year and is expected to accelerate in the future.

Liberal economists like Paul Krugman argue that deficit spending is necessary in times of economic trouble like the Great Recession when the government must stimulate the economy. 

That may be so, but what happens when you are already $20 trillion in debt, have half a trillion in deficit spending each year, spend 6% of revenue on interest payments… and the next crisis hits⁉️



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1 reply »

  1. It is a good thing that interest payments keep growing or one day the percentage of student debt deadbeats might actually make the chart just because they are living the life they want but we have to finance.

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