The Data Prove Government Is Spending Too Much

Wall Street Journal Header

Federal and state layouts are vastly outpacing the combined rate of inflation and population growth.

The U.S. national debt recently passed $33 trillion, more than 120% of gross domestic product. Left-wing politicians assert that Americans are undertaxed, but the data show that the government spends too much.

Americans for Tax Reform launched theย Sustainable Budget Projectย in September to document the rise in government spending over the past decade. The results are clear: Overspending is the problem.

Between 2013 and 2022, aggregate annual spending by the 50 state governments, excluding federal funds, increased 51.7%. Total annual federal spending rose 69.4% during the decade, more than three times as fast as the 21.6% increase in the rate of population growth plus inflation. If government grows faster than this rate, then it is growing faster than what the average taxpayer can afford.

Had the federal government limited the growth in spending to a maximum of the population growth rate plus inflation during that decade, in 2022 the federal government would have spent $1.6 trillion less than it did, resulting in at least a $200 billion surplus. If the federal government had done this over the past two decades, the national debt would have increased by less than $500 billion instead of $19 trillion.

If state governments had limited spending growth to the rate of population growth plus inflation during the last decade, they would have spent $1.39 trillion in 2022, $344 billion less than the $1.74 trillion they actually spent.

Had federal and state governments simply grown no faster than the rate of population growth plus inflation, taxpayers could have been spared at least $2 trillion in taxes and debt in 2022 and trillions of dollars more over time. The U.S. hasnโ€™t needed drastic budget cuts, just slower, more sustainable debt growth.

Our project defines each stateโ€™s overspending problem by providing a dollar-figure spending ceiling and allowing anyone to see how government spending in a state has grown relative to the rate of population growth plus inflation. It will publish and promote an annual benchmark spending level for every state, which lawmakers must not exceed if they want to keep state spending in check.

Byย Grover Norquist andย Vance Ginn

Read Full Article

Wall Street Journal
Wall Street Journalhttps://www.wsj.com/
The Wall Street Journal was founded in July 1889. Ever since, the Journal has led the way in chronicling the rise of industries in America and around the world.

The Looming Threat To Our Homeland

After success of โ€œOperation Midnight Hammer,โ€ where U.S. military bombed Iranian nuclear facilities, the threat to America has never been greater.

Groundhog Day came late this year to the Land of Smiles.

itโ€™s the same rigmarole, on whatever pretext, the army commandeers the Thai state with vague promises to restore democracy at some unspecified future date.

Resource number one

Russia has an unsustainable birthrate worsened by mortality rate of Russian males through war and alcoholism. One solution, steal young children from other countries.ย 

Expansionist CCP Runs Amok in Pacific After U.S. Relocates Naval Assets to Mid-East

Caveat established, Chinaโ€™s been going bananas on the high seas as the eyes of the world, and U.S. military assets, hone in on Iran.

The Anti-Trump Protests โ€“ Why Are They So Important?

The anti-Trump stance is not a political position, but a desperate gesture, a mental diagnosis of those who refuse to accept the reality of the World today.

21.8 Million US Seniors Paying for Expenses With Only Social Security Income: Survey

An estimated 21.8 million senior citizens in America make ends meet solely using their social security funds, The Senior Citizens League (TSCL) said.

Supreme Court Temporarily Allows Deportations to Third Countries

Supreme Court temporarily lifted lower court order blocking Trump admin from deporting illegals to so-called third countries they have no connection.

US Manufacturing Output, Hiring Rise to Multi-Month Highs

U.S. manufacturing activity climbed in June, fueled by strong domestic demand and tariff-driven stockpiling, according to report from S&P Global.

Largest US Power Grid Issues Emergency Energy Alerts

The alerts follow a report released last month that predicted that parts of the country would face difficulties meeting electricity demand during the summer.

No Changes Planned for FDAโ€™s Vaccine Advisory Committee โ€˜At This Timeโ€™: Spokesperson

There are no plans to remove any members of the panel that advises the FDA on vaccines, a spokesperson said on June 20.

Trump Says Trade Deals Expected With India and Pakistan

President Trump expects US will sign trade deals with India and Pakistan, signaling growing momentum in push to reshape global trade through tariff diplomacy.

Trump Says US Intelligence Communityโ€™s Assessment of Iranโ€™s Nuclear Program โ€˜Was Wrongโ€™

President Trump said his director of national intelligenceโ€™s assessment in March that Iran had yet to decide on building a nuclear weapon was wrong.

NIH Ends Gain-of-Function Research, Implementing Trumpโ€™s Executive Order

The NIH announced the end of gain-of-function research. The instituteโ€™s update said the move is in compliance with President Trumpโ€™s EO on the topic.ย 
spot_img

Related Articles