Wasteful Government Spending

Is the Current Level of Federal Spending Sustainable?

Over the last several years, the total amounts of federal spending have been rising sharply. Part of the reason for this, is because of the different entitlement programs (such as: Social Security and Medicare). While at the same time, Defense spending and the costs associated with the War on Terrorism, have been having an impact upon these levels. A good example of this can be seen by looking no further than a report released by the National Commission on Fiscal Responsibility and Reform. They found that federal debt has risen from: 33% of the gross domestic product (GDP) in 2001, to 62% of the GDP in 2010. While, federal spending (in 2010) encompassed the greatest portion of the economy at 24% of the GDP. Only World War II shares this same distinction of: federal spending comprising the most of...
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