The Learning Curve

New tricks for an old dog.

U. S. Defense Spending and Income Tax Receipts

To put things into proper perspective, I gathered the annual data from the U.S. Department of Treasury, Financial Management Service, and graphed it. The easy and obvious conclusions are: (1) Defense and military spending has more than doubled during the period FY 1998 to FY 2011 (the most recent year with complete information), (2) Federal Income tax receipts have not increased nearly that fast, and (3) President Barack Obama has not reduced defense military spending during his first term, even though the rate of increase has slowed since the end of the Iraq war.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As you can see, as a percent of Federal Income Tax receipts, defense military spending has gone from about 30% to more than 60%, from 1998 to 2011.

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Written by Tom Fox

10/10/2012 at 9:51 am

Posted in Uncategorized

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