This year, total federal spending in the U.S. is projected to be $3.6 trillion. The top three budgetary categories are:
- Medicare/Medicaid — $826 billion
- Social Security — $717 billion
- Defense/Wars — $703 billion
Medicare and Medicaid costs alone account for 23% of total federal spending.
If the magnitude of these projections does not alarm you, let’s look at it from a revenue perspective. This year, the total U.S.tax revenue is projected to be $2.2 …