August 18, 2022
Update: Budget Chart Book August 2022
As we wait for the Office of Management and Budget to release its Mid-Session Review, which is intended to provide an update of the administration’s budget estimates, AAF’s Director of Fiscal Policy Gordon Gray has compiled the latest fiscal data in an updated chart book.
- Mandatory spending over the last 50 years has risen from 31 percent to 66 percent of the federal budget;
- As entitlements and interest continue to grow, defense and non-defense priorities are squeezed; and
- By 2052, the federal debt will be nearing twice the size of the economy.