Government spending and debt are ballooning to dangerous and unprecedented levels. Using the most reliable data available, the Government Cost Calculator estimates that the current U.S. national debt of more than $16 trillion will reach $23 trillion dollars by the year 2019. This year alone, Americans can expect federal spending of $3.6 trillion with up to $1 trillion of that spending financed by debt.
The Government Cost Calculator is a unique service from The Independent Institute that enables any American to clearly understand three aspects of federal government spending. First, the Calculator helps you determine how much you will pay for various federal programs now and over the course of a lifetime. Second, it compares those tax payments to the forgone earnings that would have been possible if such funds were kept and invested in private, market accounts. Finally, the Calculator enables you to see the difference between government expenditures and your tax payments, clearly illustrating the growing debt obligations you face in the future.