7

Expanding the Size of Government
(Government Spending as Percentage of GDP)
(Government Spending as Percentage of GDP)
60.0
Actual Democratic Budgets* Historical Average
50.0

40.0

30.0

20.0

10 0
10.0

0.0
1940
0
1945
5
1950
0
1955
5
1960
0
1965
5
1970
0
1975
5
1980
0
1985
5
1990
0
1995
5
2000
0
2005
5
2010
0
2015
5
2020
0
2025
5
2030
0
2035
5
2040
0
2045
5
2050
0
2055
5
* ‐‐ Out‐years based on CBO’s Long‐Term with revenue held at 18.3%
 14

Future Debt Burden
( b
(Debt Held by Public As Percentage of GDP)
ld b bl f )
250
Actual
ctua Democratic Budgets*
e oc at c udgets
200

150

100

50

Source: CBO Estimate
0
1940
0
1944
4
1948
8
1952
2
1956
6
1960
0
1964
4
1968
8
1972
2
1976
6
1980
0
1984
4
1988
8
1992
2
1996
6
2000
0
2004
4
2008
8
2012
2
2016
6
2020
0
2024
4
2028
8
2032
2
2036
6
2040
0
* ‐ ‐ Out‐years based on CBO’s Long‐Term Projections
 15
More than Doubling the Debt Held by the Public
(in Billions of Dollars)
(in Billions of Dollars)
18,000
16,000
,
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
00
01
02
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
18
19
200
200
200
200
200
200
200
200
200
200
201
201
201
201
201
201
201
201
201
201
CBO Estimate