Debt & Deficits
One in seven Americans rely on food stamps, costing taxpayers $78 billion in 2011.
The U.S. government owes most of its $16 trillion debt to itself, and the Fed has been buying $85 billion more each month. But there are also big IOU’s to China and Japan.
International trade has risen dramatically in the past 20 years, but the U.S. still runs a trade deficit, most dramatically with China.
The U.S. government spends $74 billion on information technology, but a quarter of funded programs have “serious management issues.”
Every second of 2011, the federal deficit rose another $41,210. That means it spent $114,253 and took in only $73,043 during that one tick of the clock.
More Americans have overdue debt payments, despite the end of the recession. The average past-due amount is historically high, too.
Improper payments by the federal government amounted to $115 billion lost in 2011 – despite legislative attempts to clamp down.
- 1 of 3
- Next Facts