Government spends we lose 9.6.10

Government Spending Grows = The Economy Slows Presented by Rich Sokol September 5, 2010

Purpose ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

What is GDP? ,[object Object],[object Object],[object Object],[object Object],[object Object]

GDP per US resident adjusted for inflation ,[object Object],[object Object],[object Object],1949 $13,945 1959 $16,961 1969 $23,293 1979 $29,083 1989 $35,612 1999 $42,797 2009 $47,488

GDP per US resident adjusted for inflation : growth by decade ,[object Object],[object Object],[object Object],[object Object],1960s 37% 1970s 25% 1980s 22% 1990s 20% 2000s 11% 2010s ??

What About Other Measures of Wealth?

Disposable Income per US resident adjusted for inflation: growth by decade ,[object Object],[object Object],[object Object],[object Object],1960s 37% 1970s 26% 1980s 26% 1990s 20% 2000s 15% 2010s ??

Total Government Spending per US resident, adjusted for inflation ,[object Object],[object Object],[object Object],[object Object],[object Object],Note: Total Government Spending = Federal + State + Local 1969 $6,874 1979 $8,585 1989 $11,208 1999 $12,415 2009 $17,144 2019 est. $20,495

Total Government Spending per US resident, adjusted for inflation: The Future ,[object Object],[object Object],[object Object],[object Object],2009 $17,144 2019 $20,495 2029 $26,037 2039 $32,909 2049 $41,313 2059 $52,276

Is the spending increase due to National Defense? Federal Defense Spending as a % of GDP and as a % of total federal spending ,[object Object],[object Object],[object Object],DEFENSE % of GDP DEFENSE % of spending 1950s 10.5% 59.5% 1960s 8.7% 46.4% 1970s 5.5% 27.4% 1980s 5.8% 26.2% 1990s 3.8% 18.8% 2000s 3.8% 19.0%

HOW ARE WE PAYING FOR ALL THIS SPENDING ?

United States Debt Held By Public: Inflation Adjusted ,[object Object],[object Object],[object Object],[object Object],[object Object],Inflation Adjusted ($s trillion) Per US resident 1979 $1.7T $7,445 1989 $3.6T $14,449 1999 $4.7T $16,882 2009 $7.7T $25,185 9/2/10 $8.9T $28,794

United States Debt Future Debt Levels ,[object Object],[object Object],[object Object],[object Object],Inflation adjusted ($s T) Per US resident 9/2/2010 $8.9T $28,794 2019 $16.0T $47,441 2029 $31.7T $84,964 2039 $63.3T $153,474 2049 $116.2T $254,920 2059 $200.3T $397,808

US Debt as a % of GDP ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],1979 26% 1989 41% 1999 39% 2009 53% 9/2/2010 61% 2019 84% 2029 138% 2039 223% 2049 332% 2059 468%

Don’t Worry ,[object Object],[object Object]

Now Worry ,[object Object],[object Object]

What does the future hold? ,[object Object],[object Object],[object Object],[object Object],[object Object]

Spending vs Taxes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

CONCLUSIONS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

WHAT FUTURE ARE WE LEAVING FOR OUR KIDS?

Sources and Notes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Government spends we lose 9.6.10

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