"Last week, we reached an agreement that will make historic cuts to defense and domestic spending.  But there's not much further we can cut in either of those categories." President Obama, August 8, 2011. 

The Obama "Hockey Stick"

Source:  Tino Sanandaji at Super-Economy.

Hoven's Index for August 12, 2011

Federal spending (billions of 2005 inflation-adjusted dollars) in 2007:

Energy: $3.4 B

Education: $54.7 B

International affairs: $32.8 B

Income security (non-housing): $15.9 B

General government: $14.8 B

All non-defense discretionary: $458.4 B

Federal spending (billions of 2005 inflation-adjusted dollars) in 2011:

Energy: $20.0 B (488% increase over 2007)

Education: $86.0 B (57%)

International affairs: $51.3 B (56%)

Income security (non-housing): $22.2 B (40%)

General government: $19.8 B (34%)

All non-defense discretionary: $568.7 B (24%)

Source: White House Office of Management and Budget (Table 8.8).

Graph of the Day Archive.