Though it lasted fewer than four years, World War II was the most expensive war in United States history. Adjusted for inflation to today’s dollars, the war cost over $4 trillion and in 1945, the war’s last year, defense spending comprised about 40% of gross domestic product (GDP). During that time, the government used new methods to raise the required funds and succeeded in accomplishing its goal. While the wars waged in today’s world are significant and costly, they still pale in comp...| online.norwich.edu
Government total expenditures| fred.stlouisfed.org
Federal government current tax receipts| fred.stlouisfed.org
Avoiding massive tax hikes means increasing the debt, but the alternative is more costly in the long run. Many provisions of the pro-growth 2017 Tax Cuts and Jobs Act expire at the end of this year. If Congress refuses to act, Americans will face the largest tax hike in history — hitting workers, families, and […] The post Economic growth is the only way to a balanced federal budget appeared first on Protect Prosperity.| Protect Prosperity
