Cato on How the Government Should Be Spending Our Money – IOTW Report

Cato on How the Government Should Be Spending Our Money

Wednesday, 13 March 2024, 21:00 Dr. Tar Uncategorized 19

Cato Institute

Federal spending is rising faster than tax revenues, generating a massive flow of red ink. Congress has not balanced the budget in more than two decades, and by 2023 it was spending almost $2 trillion more than it was raising in revenues.1 Overspending is pushing costs onto younger generations, undermining economic growth, and sowing the seeds of a financial crisis.2

To tackle the problem, Congress should pursue wide­spread spending cuts in the $6.7 trillion federal budget. This study explores what spending to cut using data from the US Bureau of Economic Analysis (BEA).3 The government runs thousands of programs in hundreds of agencies, but the BEA data show that all spending is one of five types: transfers (benefit and subsidy payments), aid to the states, purchases, federal worker compensation, and interest on the debt. More

19 Comments on Cato on How the Government Should Be Spending Our Money

  4. If you want to get control of the Federal Government the first thing that needs to happen is the destruction of the CIA, the FBI, The Department of Justice and the IRS. In that order. All at once would be good. But probably not practical.

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  5. The government can only prosper at the expense of productive Americans. The bigger the federal government becomes, the poorer and less free the American people will become.

    The Federal government already has enough money to solve just about every problem on earth. It just wastes money. This is why giving the government more tax dollars will never fix anything. The government will simply waste that money too and then ask for more.

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  7. “The Federal government already has enough money to solve just about every problem on earth. It just wastes money”

    Wow! Really. What backs up that printed dollar? Gold? No. Silver? Never. Oh. it’s our good credit. The U.S. dollar has no value globally. That’s the truth. And it’s all crashing down soon.

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  11. Instead of spending our money, we should be protecting the value of our money! Just wait till BRICS gets well organized. We might have a day of reckoning coming that very few of us are prepared for. The donkeys and the rinos are fully involved in destroying our independence! Trump better win or we are fucked! And if those of us MAGA supporters just sit on our ass and say he has my vote, will be non-participants in why we will lose! We need to pay attention! I don’t have all the recommendations, all I know is we can’t think someone else is going to do what needs to be done.

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  12. Joe6
    I agree with everything you say. However, that paper needs to be based on something. Gold, Silver, Petro. Better be Petro we gave all of our yellow metal to China. Trump was on Target with the Petro Dollar. That’s why they killed it.

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  16. Maine is one of the worst moochers.
    Thanks in large part to RINO Susan Collins, we get about $1.50, give or take for every dollar we send to the fed govt in taxes.
    The two largest employers are ME Med and the state of Maine.
    What I’m getting at is that the cost cutting needs to start by cutting off the states and forcing them to live within their means.
    Because Maine gets so many handouts the politicians have made poverty the largest industry in the state. Non profits building more and more subsidized housing and illegals on welfare, etc.

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  19. They’re spending money like there’s no tomorrow. I think they know something That’s why the elite are building bunkers. Something like the magnetic pole shift or a comet or asteroid is gonna wipe us out and they know but won’t tell us.

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