How The Federal Government Spends Your Tax Dollars

Posted by accountingweb on Oct 26 2010 967 printer friendly

Two things my blog readers seem to always like, pretty charts and posts regarding Gov’t spending/tax updates. Well today is your lucky day!

The good folks at MyBankTracker have created a very cool chart that shows just how our government spends our tax dollars. This chart shows the areas of spending, discretionary and mandatory. What is key to note here is that our mandatory spending is almost twice what our discretionary spending is. That means when it comes time to cut spending, so much of our budget is fixed and not able to be cut without some major changes (i.e. social security, medicare…). Click here to view a larger version.

One thing is certain, we may need a chainsaw to fix this problem and not a scalpel.

View the discussion thread.

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