Federal Spending Is Growing Faster Than Federal Revenue

Since 1965, federal tax revenues and spending have soared. Revenues have increased by more than
$1.9 trillion, and spending is up by $2.1 trillion. The government spent more than it took in during
most of this period, generating an average annual deficit of $167.8 billion from 1965 to 2007.

Total Federal Tax Revenue and Spending, 1965–2007, in Billions

Source: Receipts from FY 2009 Historical Tables, Budget of the United States Government, Table 2.1; Outlays from FY
2009 Historical Tables, Budget of the United States Government, Table 8.1.