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Americans For Prosperity Americans for Prosperity (AFP) and Americans for Prosperity Foundation (AFP Foundation) are committed to educating citizens about economic policy and mobilizing those citizens as advocates in the public policy process. AFP is an organization of grassroots leaders who engage citizens in the name of limited government and free markets on the local, state and federal levels. The grassroots members of AFP advocate for public policies that champion the principles of entrepreneurship and fiscal and regulatory restraint.

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No Monsters Needed: These 4*Federal*Overspending Facts Are Sure to Give You a Fright*

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Unread 10.29.18, 10:52 AM
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No Monsters Needed: These 4*Federal*Overspending Facts Are Sure to Give You a Fright*

10.29.18 07:49 AM

Halloween isnít until Wednesday, but federal spending has been scary this entire year.*Actually, itís*been scary for decades. A new report*Speeding Toward Bankruptcy*indicates that spending grew an average of 2.3 percent each year over the past 30*years.*Thatís*greater than the average annual revenue growth during that same amount of time! But those arenít the only frightening facts about overspending. Here are four more that are sure to scare you. A record $4.1 trillion* During*fiscal 2018, federal spending increased*3 percent,*to*more than*$4 trillion*for the first time ever. Entitlement programs increased spending the most… The biggest drivers of*fiscal 2018*spending increases*were Social Security (5 percent increase), Medicaid, (4 percent increase) defense (5 percent increase) and interest on the debt (20 percent increase). …And they will continue to increase spending Social Security, Medicare and Medicaid will increase by nearly 90 percent over the next 10 years, or over*$1.7 trillion. $7 trillion in 10 years In*10 years from now,*total annual federal spending is projected to*top $7 trillion. Thatís an increase of roughly 72 percent over Fiscal Year 2018. Like every zombie apocalypse or other Halloween-ish*epidemic, thereís an antidote for out-of-control federal spending. According*to*Speeding*Toward Bankruptcy,*the*cure lies with Congress. ďWith spending growth outpacing revenues and accelerating ever faster in the […]

The post No Monsters Needed: These 4*Federal*Overspending Facts Are Sure to Give You a Fright* appeared first on Americans for Prosperity.

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