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Why Has Debt Risen So Much? Public Debt Up 2x Over Past 3 Decades
Source: White House Office of Management and Budget. USA Inc. | Income Statement Drilldown 147
Answer Part 1:
% Change From 1965
KP
1200%
1000%
800%
600%
400%
200%
0%
Debt Level: Why It Has Risen Expenses (Entitlement + One-Time Items*) Grew Faster Than GDP
USA Real Federal Expenses vs. Real GDP % Change, 1965 — 2010
Total Expenses
Entitlement Programs
Non-Defense Discretionary
Defense
Net Interest Payments —- =Real GDP
1969 1973 1977 1981 1985 1989 1993 1997 2001 2005 2009
Note: *One-time items could not be shown in chart because % change from 1965 is not available. For context, one-time items totaled $377B in 2009 and $152B in 2010 (both in 2005 constant dollars), both of which are the 3” largest line item after entitlement expenses and defense spending. Data adjusted
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for inflation. Source: White House Office of Management and Budget. USA Inc. | Income Statement Drilldown 148
HOUSE_OVERSIGHT_020915