SOURCES: Data from Office of Management and Budget, The President's Budget for Fiscal Year 2014, April 2013; and the Congressional Budget Office, The 2012 Long-Term Budget Outlook, June 2012. Compiled by PGPF.
By 2040, projected interest costs on the debt will be almost four times what the federal government has historically spent on education, research and development and infrastructure. Interest costs buy us nothing; they are about the past, not the future, and, indeed, they will inevitably crowd out critically needed investments in that future. If we're going to prepare the U.S. to compete globally over the long-term and ensure that the American Dream is accessible to all Americans, we're going to need to make substantial investments — in both the public sector and the private sector.
Social Security, Health Care, and Defense Spending 1965-2010
U.S. Defense Spending Compared to Other Countries
2012 Discretionary Spending Breakdown
Composition of Spending 1965-2010
The Size of Tax Expenditures
Peter G. Peterson Foundation Chart Pack:
The PGPF chart pack illustrates that budget-making involves many competing priorities, limited resources, and complex issues. In this set of charts, we aim to frame the financial condition and fiscal outlook of the U.S. government within a broad economic, political, and demographic context.
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