Guess What? That's Your Money! ...Gov't Spending & How it Works
Join us and tell your reps how you feel!
Despite the lofty ideals and fine words that grace countless middle-school pageants, a huge chunk of the U.S. Constitution is actually dedicated to money.
There are two sides to the ledger: taxes and spending.
Earlier this month, we talked about where the government’s money comes from. Truth is, by and large, it comes from you.
Now, to spending.
Where Does the Government’s Money Go?
Our partners at USAFacts wrangle massive sets of government data about these essential questions:
On what does the government spend its money? What objectives receive the lion’s share of government dollars? How much does the government spend overall? The data reveal the answers:
- In 2015 (the most recent year for which comprehensive federal, state, and local data are available), the government spent $5.6 trillion, according to USAFacts.
- That was $484 billion more than the government took in for the year. Indeed, since 1980, the government has spent more than it receives in all but six years, the USAFacts data show.
- U.S. government spending represents approximately 37.6 percent of U.S. GDP, according to OECD data.
- That works out to $21,218.20 per person in the United States, again according to the OECD.
- More than $297 billion went to pay interest on government debt, which has grown from $953 billion in 1980 to $16.6 trillion in 2015.
Want to know more? Check out this interactive map of government spending, brought to you by the data wizards at USAFacts.
What’s It To You?
The numbers are so huge that they may feel impossible to contemplate. But that’s exactly why they matter so much. How we allocate our money has everything to do with our national priorities, as well as the prosperity or burden we create for future generations. These issues permeate every aspect of government, and the only way you can understand it and lend your voice to the discussion is to have the unvarnished facts in front of you.
Image Credits: USAFacts
--Sara E. Murphy & Andrea Seabrook
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