So, would President Obama’s budget plan really increase deficit spending much more than other modern presidents? Well, yeah, to the tune of seven times more, measured as a percentage of economic output, than under President Kennedy over 45 years ago — as you can see in this chart.
It’s one of the 37 easy-to-follow information graphics in Heritage’s updated and expanded 2009 Federal Revenue and Spending Book of Charts.
How much and how fast would our national debt go up under the Obama plan? Is it true that, amid the flood of government spending, the defense budget would fall to what it was before the 9/11 attacks?
In the Book of Charts, taxpayers will find clear answers to those questions about the new administration, along with other tax and budget trends important to them. For one: Tax rates will have to be doubled if Congress doesn’t reform Social Security, Medicare and Medicaid.
New features include an interactive “flash” graphic that dramatically shows that the more Americans earn, the higher their portion of total federal taxes. Click on the image to see that the top 10 percent of earners pay 71 percent of all taxes while the bottom 50 percent pay a mere 3 percent.
The new Book of Charts allows visitors to download, post or e-mail any of the 37 charts and graphs, as well as click on links to related Heritage research and analysis, including here at The Foundry. You can quickly bookmark, embed and share the data.
Nicola Moore, assistant director of Heritage’s Roe Institute for Economic Policy Studies, collaborated on the improved Book of Charts with research assistant Steve Keen and senior graphics editor John Fleming. Moore says:
“More than ever, concerned taxpayers — as well as journalists and members of Congress – will find Heritage’s Book of Charts to be the go-to site for details on federal spending and taxes, whether past, present or projected.”