This year, to mark the Fourth of July holiday, we’re featuring a chart showing the growth of the U.S. federal government’s spending, tax collections and the national debt from 1940 through 2014, using patriotic colors:
Probably the most amazing thing this chart reveals is how much faster the nation’s total public debt outstanding grows than its deficits (the amount of government spending not covered by tax collections) do.
[This chart was inspired by one featured by Ricochet’s John Gabriel in Athens on the Potomac.]
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