In 2010 the US government spent
3.5 Trillion dollars. 2.2 Trillion dollars was collected in tax revenue. 1.3 Trillion was borrowed and will ultimately be paid by the children.Here is the breakdown of the budget.
Defense..................................20% or $705 Billion. (of this 4.8% or $170 Billion went the Afganistan and Iraq wars)
Social Security..........................20% or $707 Billion (54.1 Million receive checks)
Medicare, Medicaid and Childrens Health Ins. Program.......... 21% or $732 Billion
Safety Net Programs......................14% or $496 Billion
Interest on the National Debt.............6% $196 Billion
Payments to Fed. Retires and Vet...........7% or $245 Billion
That's 88% of the budget.
So were do we cut?
Mikek
Data from