September 4, 2019
Update: Budget Chart Book Q4 2019
Recent projections indicate that the federal deficit will exceed a trillion dollars next fiscal year. With increased concern about the federal budget outlook, AAF’s Director of Fiscal Policy Gordon Gray has compiled the latest fiscal data in an updated chart book.
- Mandatory spending over the last 60 years has risen from 29 percent to 64 percent of the federal budget;
- As entitlements and interest continue to grow, defense and non-defense priorities are squeezed; and
- By 2049, the federal debt will be 1.5 times the size of the economy.