The Patriot Post® · Annual Report of the USA

Harvard Political Review, in collaboration with the American Education Foundation, is out with their FY2013 analysis of government spending figures. According to the Annual Report of the USA, the federal deficit has blossomed by 58% under Barack Obama – from $10.6 trillion to $16.7 trillion. “If the federal government spent its yearly revenues exclusively on debt reduction and ceased all of its operations, it would take three of four years to pay down the debt,” the study finds. “Or, the government could pay down the debt in one blow if it simply took more than $52,000 from every person living in the U.S., including children, the elderly, and the unemployed. If this one-time ‘debt reduction fee’ were levied only on those in the workforce, the cost would be over $106,000 per person.” They also report that, “Between 2007 and 2011, average monthly participation in SNAP, or the food stamp program, grew nearly 77 percent. The cost of the program grew as well: it was up to $71.8 billion in 2011 from $30.4 billion four years earlier.” Check out other key findings from the study below.