In 2016, the federal government spent $3.8 Trillion to pay its bills (I.e. Military, Social Security, Medicare/Medicaid, Education etc.). Here’s how much of it was spent:
* Medicare/Medicaid – $1.1 Trillion
* Social Security – $976 Billion
* Dept. of Defense – $565 Billion
* Dept. of Treasury INTEREST ONLY on our Debt – $429 Billion
Those four “items” alone account for roughly $.80 for every $1 spent by the federal government.
The other roughly $.20 combined spending goes for everything else including Education, Veterans, Homeland Security, Housing & Urban Development, Transportation, Energy, Agriculture, Environmental Protection.
The federal government also collected roughly $3.2 Trillion from taxpayers (I.e. Your paycheck).
Finally, over the years, the federal government has borrowed money to take care of its needs. Currently, it owes over $19.8 Trillion on its “credit cards” and “loans” combined (national debt).
As stated earlier, in 2016, the federal government used the taxes we paid to pay $429 Billion in INTEREST ONLY on the total amount it owes.
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