How Much Does Government Really Cost?



 

A lot. In fact, much more than you think. The federal government's debt today is significantly more than what you, or your children, or your grandchildren can afford to pay.

There is a big, ever-growing gap between the taxes that the government is projected to take in and the money that the government is expected to spend in the future. That difference — known as the "fiscal gap" — currently sits at more than $210 trillion. That's a lot bigger than the $17 trillion debt held by the public that official government figures show. And the number is only growing.

The reality of the government's financial situation is staggering. Without major changes to our fiscal and tax policies, we won't be able to bridge the fiscal gap.