Runaway Federal Government Spending?

Lets look historically at the size of the federal government workforce,

the federal budget deficit, and national debt .

Ferderal Government

Sep-10

Jan-09

May-07

Sep-05

Jan-04

May-02

Sep-00

Jan-99

May-97

Sep-95

Jan-94

May-92

Sep-90

Jan-89

May-87

Sep-85

Jan-84

May-82

Sep-80

Jan-79

May-77

Sep-75

Jan-74

May-72

Sep-70

Jan-69

May-67

Sep-65

Jan-64

May-62

Sep-60

Jan-59

May-57

Sep-55

Jan-54

May-52

Sep-50

Jan-49

May-47

Sep-45

Jan-44

May-42

Sep-40

Jan-39

Government Non-Farm Jobs in Thousands

3500

3000

2500

2000

1500

1000

500

Federal Government as a proportion of the Civilian Labor Force

Jan-11

Jul-09

Jan-08

Jul-06

Jan-05

Jul-03

Jan-02

Jul-00

Jan-99

Jul-97

Jan-96

Jul-94

Jan-93

Jul-91

Jan-90

Jul-88

Jan-87

Jul-85

Jan-84

Jul-82

Jan-81

Jul-79

Jan-78

Jul-76

Jan-75

Jul-73

Jan-72

Jul-70

Jan-69

Jul-67

Jan-66

Jul-64

Jan-63

Jul-61

Jan-60

Jul-58

Jan-57

Jul-55

Jan-54

Jul-52

Jan-51

Jul-49

Jan-48

Federal Government Jobs as a proportion of the Civilian Labor Force

0.05

0.045

0.04

0.035

0.03

0.025

0.02

0.015

0.01

0.005

-200,000

-400,000

-600,000

-800,000

-1,000,000

-1,200,000

-1,400,000

-1,600,000

2012

2009

2006

2003

2000

1997

1994

1991

1988

1985

1982

1979

1976

1973

1970

1967

1964

1961

1958

1955

1952

1949

1946

1943

1940

1937

1934

1931

1928

1925

1922

1919

1916

1913

1910

1907

1904

1901

Surplus or Deficit in Millions

400,000

200,000

-5.0

-10.0

-15.0

-20.0

-25.0

-30.0

-35.0

2012

2010

2008

2006

2004

2002

2000

1998

1996

1994

1992

1990

1988

1986

1984

1982

1980

1978

1976

1974

1972

1970

1968

1966

1964

1962

1960

1958

1956

1954

1952

1950

1948

1946

1944

1942

1940

1938

1936

1934

1932

1930

Surplus or Deficit as Percent of GDP

5.0

0.0

Gross Federal Debt as a Percent of GDP

140

120

100

80

60

40

20

A future debt crisis?

1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011

Annualized Average Yield for US Government Debt

16

14

12

10

3-Month Yield
2-Year Yield
10-Year Yield
30-Year Yield

US
UK
Germany
France
Netherlands
Finland
Sweden

May-12

Jan-12

Sep-11

May-11

Jan-11

Sep-10

May-10

Jan-10

Sep-09

May-09

Jan-09

Sep-08

May-08

Jan-08

Sep-07

May-07

Jan-07

Sep-06

May-06

Jan-06

Sep-05

May-05

Jan-05

Sep-04

May-04

Jan-04

Sep-03

May-03

Jan-03

Sep-02

May-02

Jan-02

Sep-01

May-01

Jan-01

Average Monthly 10-Year Government Bond Yield

US vs Western and Northern Europe

US
Poland
Hungary
Latvia

May-12

Jan-12

Sep-11

May-11

Jan-11

Sep-10

May-10

Jan-10

Sep-09

May-09

Jan-09

Sep-08

May-08

Jan-08

Sep-07

May-07

Jan-07

Sep-06

May-06

Jan-06

Sep-05

May-05

Jan-05

Sep-04

May-04

Jan-04

Sep-03

May-03

Jan-03

Sep-02

May-02

Jan-02

Sep-01

May-01

Jan-01

Average Monthly 10-Year Government Bond Yield

US vs Eastern Europe

16

14

12

10

US
Portugal
Ireland
Italy
Greece
Spain

May-12

Jan-12

Sep-11

May-11

Jan-11

Sep-10

May-10

Jan-10

Sep-09

May-09

Jan-09

Sep-08

May-08

Jan-08

Sep-07

May-07

Jan-07

Sep-06

May-06

Jan-06

Sep-05

May-05

Jan-05

Sep-04

May-04

Jan-04

Sep-03

May-03

Jan-03

Sep-02

May-02

Jan-02

Sep-01

May-01

Jan-01

Average Monthly 10-Year Government Bond Yield

US vs PIGS

30

25

20

15

10