Federal debt and spending are spiraling out of control. America is digging itself deeper and deeper in debt, burdening the next generation and America’s future.

In an effort to better communicate the crippling problem of debt, The Heritage Foundation has updated its “Federal Budget in Pictures” website to demonstrate visually how runaway taxes and spending are hurting America.

The charts are revealing and capture the disastrous effect of our nation’s budget. These charts are particularly telling:

  • Publicly held debt is set to skyrocket– Runaway spending on Medicare, Medicaid, and Social Security will drive federal debt to unsustainable levels over the next few decades. Total national debt consists of publicly held debt and intergovernmental debt. Intergovernmental debt is the amount that the government owes to specific programs or agencies, such as the Social Security Trust Fund. Publicly held debt is owed to individual private lenders.
  • Obama’s budget will raise taxes by $2 trillion– President Obama’s 2013 budget includes about $1.5 trillion in tax hikes. Other proposals bring the true size of President Obama’s tax hikes to over $2 trillion. This includes letting the 2001 and 2003 tax cuts expire for high-income earners and small businesses and imposing additional taxes on these groups. President Obama also proposes a higher death tax and the institution of new taxes, such as the punitive bank tax.
  • Federal spending exceeds federal revenue by more than $1 trillion – Since 1965, spending has risen constantly. While federal revenues are recovering from the recent recession, spending is growing sharply, resulting in four consecutive years of deficits exceeding $1 trillion.
  • Entitlement spending will nearly double by 2050– Spending on Medicare, Medicaid, Social Security, and the Obamacare subsidies will soar as 78 million baby boomers retire and health care costs climb. Total spending on federal health care programs will more than double. Future generations will be left with an untenable debt burden.

You can view all the charts and analysis on the Federal Budget in Pictures website.

Despite the grim picture painted by the charts, The Heritage Foundation has a plan to turn the nation’s debt problem around. Heritage’s plan, Saving the American Dream, cuts spending, balances the budget within ten years, reduces the size of government, encourages personal fiscal responsibility and fosters economic growth—all without raising taxes.

Which Heritage chart is your favorite? Post links to your favorite chart in the comments.

Comments (12)

Emma Runion - April 26, 2012

I always wonder at how the utopian Socialist movement stays alive when it’s proven a failure over & over decade after decade.I pray that enough people in the world have had enough of this experiment & especially Americans whom have already lost many freedoms.We must strive to hold our elected officials accountable in our lifetime.

Joan Howard - April 26, 2012

It is known that Congress saw the Social Security had a nice amount of funds in the treasury so they dipped their sticky hands into it for other agendas. Make those that voted &/or dipped into it, pay it back out of their own pockets, particularly using their self-imposed inflated raises. Those who did not take from S.S. doesn’t have to pay back into it. Those who are out of office, alive, still have to pay and those who died & left a sizable estate, must pay. Each the amount they took out..

Edith Kurie - April 26, 2012

I don’t know how we will fight obama and his collateral damage if he serves a second term.

Lowell E. McCoy - April 26, 2012

I am 84 and I can remember the FDR Administration when socialism began getting a real hold on our country. When a nation begins getting involved in the citizens’ personal well-being it has begun its downward trend to ultimate collapse. There is no way to change direction as long as those receiving government handouts are sill able to vote!

Stan Bennett - April 26, 2012

The problem is, the Republicans won’t cut either. They have their utopian social programs just like the dems and there is no end. The Repub “establishment” wants control of the money. I’ve written my useless rep. Dan Lungren once a month asking him to sponsor legislation taking the S.S. trust fund back out of the Treasury and placing it back in to “lock box” status and it’s a waste of my time. Can you imagine ANY congressman or senator voting no?

Jim Bowers - April 27, 2012

Failure to pay for the Iraq conflict and recognize its costs led Congress to continue reduced taxes when it should have been eliminating tax breaks. It was a period of financial boom for most sectors of the economy, there was no reason to leave tax cuts in place. We need to forget the blame game and accept what we can afford by having honest discussions. We cannot make all interest groups happy.

John Hazeltine - April 27, 2012

Good charts. The question is how to use them to get the “99%” voters to see what it means to them personally in the near future. Figure out how to interpret the charts for the “me” generation. Unless they see how this information hits their personal hopes for the very near term, you have lost them. Don’t expect that they care more for their children and grandchildren than themselves.

Martha Perry - April 27, 2012

Heritage did a splendid job on the charts displaying our elevating debt(s). Electing Romney is more urgent than ever. America cannot survive under another Obama term. Americans, our situation is serious and the November election is our last hope. If you read this Member Briefing from Heritage, you know what we must do. Start immediately. Another mistake will be fatal.

Elizabeth Hand - April 28, 2012

I read through Saving the dream.
Two issues-why do you penalize married couples in your income. Charts? Shouldn’t. The couples level be 222,000. Not 165,000 since the top bracket for singles is $110,000?
Additionally, in the (FEHBP)- if there is no premium support above $ 165,000 for couples, that would mean that all confess and high paid administration would be paying their entire. Premium because they all have incomes above 165k!

Please clarify.

E. Hand

willis ritter - May 1, 2012

Republicans gave us ………
Bush (“Temporary”) Tax Cuts,
Unfunded Iraqi war,
Undfunded Afghan war,
Unregulated financial markets.and
Congreessional gridlock.

You want these folks back in power??

willis ritter - May 1, 2012

You don’t hire the crew of the Titanic to refloat your ship.

William Waters - May 6, 2012

Thank you Heritage for bringing this into the spotlight and out of the limelight…Whenever obozo finds a problem he knows how to fix it! Throw money at it…….
As of this moment in time, our little war that we have engaged in the Middle East, is costing the U S Gov’t
2 BILLION DOLLARS/WEEK!!!!! Which also means it is causing us taxpayers the same figure above. What Mitt Romney needs to do in 2013, is start creating jobs in the private energy sector and put millions of people back to work, as Obama does not want this to happen yet until
the elections are upon us….and obozo can take credit for it, just like he continues to do with Osama bin Laden.
And using that as part of his campaign strategy is nothing short of repulsive, arrogant, self righteous,
malicious, and malevolent (wishing evil or harm to another/injurious) and spiteful. Do not let this graph fool or trick you, it is very real. And somebody needs to step in and get that engineer off of the train that he is
driving us into complete socialism and economic collapse and panic…….Lets change the direction that graph is showing, and let a businessman put our Country back on the right track!

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