Government Spending
US public debt levels now exceed the size of the entire economy and are set to double by mid-century. Recent government spending has helped generate the largest surge in inflation in more than four decades. By showing that this surge will continue as long as policymakers fail to recognize its fiscal roots, Mercatus research endeavors to reignite and inform public debates on fiscal sustainability and entitlement reform.
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Latest work in Government Spending
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
The Impact of Public Debt on Economic Growth: A Living Review
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Tracking Efforts to Shrink the Size of the Federal Workforce: July 2025 Update | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Taxes Are Not an Answer, Higher or Lower | CBS Radio’s Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
What Kind of Government Do Americans Want Seriously Enough to Pay For? | Creators Syndicate
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Trade Deals That Cost Us More | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Trump's Fed Battle a Matter of Fiscal – Not Just Political – Control | Creators Syndicate
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Sovereign Wealth Funds: A Political Slush Fund in Disguise | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Tariffs Don’t Make American Cars Great Again | National Review’s “The Corner”
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
How Much Did Macroeconomic Policy Matter? | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Subsidies and Sports: How Government Picks Winners and Distorts the Game | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
GOP Vote To Cut Funds May Threaten Future Budget Deals | Marketplace Radio
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Cutting Energy Subsidies | CBS Radio’s Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
A Rare and Encouraging Rollback of Government Handouts | Creators Syndicate
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Millionaire Taxes Don’t Deliver: Lessons from New York and Massachusetts | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
How To Build a City | CapX
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
The Quarterly Ledger: A Review of the Nation’s Balance Sheet, Q3 FY2025 | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Government Lunches Are Always Expensive | The Corner (National Review)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
The Recycled Myths of Debt Sustainability | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Big Beautiful Bill Delivers Win for HSAs | Eye on the World with John Batchelor (CBS Radio)
- | Government Spending Government Spending
- | Podcast Appearance Podcast Appearance
Debt, Freedom, and the Fight for Growth | Going Big! Podcast
Latest work in Government Spending
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
The Impact of Public Debt on Economic Growth: A Living Review
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Tracking Efforts to Shrink the Size of the Federal Workforce: July 2025 Update | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Taxes Are Not an Answer, Higher or Lower | CBS Radio’s Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
What Kind of Government Do Americans Want Seriously Enough to Pay For? | Creators Syndicate
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Trade Deals That Cost Us More | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Trump's Fed Battle a Matter of Fiscal – Not Just Political – Control | Creators Syndicate
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Sovereign Wealth Funds: A Political Slush Fund in Disguise | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Tariffs Don’t Make American Cars Great Again | National Review’s “The Corner”
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
How Much Did Macroeconomic Policy Matter? | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Subsidies and Sports: How Government Picks Winners and Distorts the Game | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
GOP Vote To Cut Funds May Threaten Future Budget Deals | Marketplace Radio
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Cutting Energy Subsidies | CBS Radio’s Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
A Rare and Encouraging Rollback of Government Handouts | Creators Syndicate
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Millionaire Taxes Don’t Deliver: Lessons from New York and Massachusetts | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
How To Build a City | CapX
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
The Quarterly Ledger: A Review of the Nation’s Balance Sheet, Q3 FY2025 | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Government Lunches Are Always Expensive | The Corner (National Review)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
The Recycled Myths of Debt Sustainability | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Big Beautiful Bill Delivers Win for HSAs | Eye on the World with John Batchelor (CBS Radio)
- | Government Spending Government Spending
- | Podcast Appearance Podcast Appearance
Debt, Freedom, and the Fight for Growth | Going Big! Podcast
Latest work in Government Spending
- | Government Spending Government Spending
- | Research Papers Research Papers
Reducing Waste and Fraud in SNAP
Why SNAP fraud persists—and how to stop it
- | Government Spending Government Spending
- | Working Papers Working Papers
The Government Spending Multiplier: A Survey of Empirical Literature
What do empirical studies tell us about the effect of government spending on economic output?
- | Government Spending Government Spending
- | Research Papers Research Papers
Beyond Dynamic Scoring: Enhancing CBO’s Evaluation of Program Integrity Spending
- | Government Spending Government Spending
- | Research Papers Research Papers
A Fiscal Accounting of COVID Inflation
- | Government Spending Government Spending
- | Research Papers Research Papers
Why We Have Federal Deficits: An Updated Analysis
- | Government Spending Government Spending
- | Research Papers Research Papers
An Analysis of Connecticut’s Public Employee Retirement Plans
- | Corporate Welfare Corporate Welfare
- | Research Papers Research Papers
An Interstate Compact to End the Economic Development Subsidy Arms Race
- | Government Spending Government Spending
- | Research Papers Research Papers
Flattening the Debt Curve: Empirical Lessons for Fiscal Consolidation
- | Government Spending Government Spending
- | Journal Articles Journal Articles
Does Census Hiring Stimulate Jobs Growth?
- | Government Spending Government Spending
- | Books Books
Decoding the Debates: Fugitive Notes on Federal Economic Policy

- | Government Spending Government Spending
- | Research Papers Research Papers
Higher Education and the School-Work Mismatch in an Evolving Labor Market
- | Government Spending Government Spending
- | Research Papers Research Papers
The Economics of a Targeted Economic Development Subsidy
- | Government Spending Government Spending
- | Working Papers Working Papers
New Evidence on Debt as an Obstacle to US Economic Growth
- | Government Spending Government Spending
- | Data Visualizations Data Visualizations
CBO Offers Many Options to Reduce the Federal Deficit
- | Academic & Student Programs Academic & Student Programs
- | Government Spending Government Spending
- | Working Papers Working Papers
Income Inequality in the United States
- | Government Spending Government Spending
- | Research Papers Research Papers
Averting the Multiemployer Pension Solvency Crisis
- | Government Spending Government Spending
- | Data Visualizations Data Visualizations
Ex-Im Bank's Lack of Transparency
- | Government Spending Government Spending
- | Data Visualizations Data Visualizations
Social Security Can’t Afford Paid Family Leave
Funneling general funds through Social Security to pay for family leave benefits would cost $14 billion each year to cover only half of parents
- | Government Spending Government Spending
- | Data Visualizations Data Visualizations
Ex-Im: Still "Boeing's Bank"
- | Government Spending Government Spending
- | Data Visualizations Data Visualizations
Export-Import Bank Support Does Not Affect Majority of US Exports
Latest work in Government Spending
Latest work in Government Spending
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
The Impact of Public Debt on Economic Growth: A Living Review
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
The Impact of Public Debt on Interest Rates
Rising US debt is driving interest rates higher than CBO forecasts predict
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Introduction: A Principled Approach to Tax Expenditures
A roadmap for a more efficient, fair, and growth-oriented tax code
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Is the Federal Reserve Overstaffed or Overworked? Insights from the Fed’s Financial Statements
The Fed has gargantuan payrolls and building upgrades. Time for an external review.
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Fiscal Policy and Inflation Control: Insights from the COVID Economic Response
As the COVID inflation shows, the US government must nurture expectations for fiscal policy—and not rely on monetary policy alone—if it is to maintain control over inflation in the future.
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Social Security Needs Fixing, Tax Increases on Savings Are Not the Solution
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Fiscal Dominance: How Worried Should We Be?
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Funding Parental Leave Today with Tomorrow’s Social Security Benefits Won’t Work
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Keynesian Stimulus: A Virtuous Semicircle?
- | Monetary Policy Monetary Policy
- | Policy Briefs Policy Briefs
The Economic Situation, June 2021
- | Healthcare Healthcare
- | Policy Briefs Policy Briefs
Understanding CBO’s Medicare for All Cost Estimates
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
The Economic Situation, March 2021
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Recent Trends in US Highway and Bridge Conditions
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
No More State and Local Government Bailouts
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Debt and Growth: A Decade of Studies
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Public Sector Pensions and the COVID-19 Shock
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
The Cost of COVID-19: A Rough Estimate of the 2020 US GDP Impact
- | Corporate Welfare Corporate Welfare
- | Policy Briefs Policy Briefs
Corporate Welfare: Beyond the Budgetary Cost
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Revisiting the Proposal for a Wealth Tax
- | Government Spending Government Spending
- | Policy Briefs Policy Briefs
Cutting Red Tape to Cut the Deficit
An Innovative Approach to Balancing the Budget
Latest work in Government Spending
- | Government Spending Government Spending
- | Policy Spotlights Policy Spotlights
Enacting True Tax Reform, Not Just Tax Cuts
Latest work in Government Spending
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Taxes Are Not an Answer, Higher or Lower | CBS Radio’s Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
GOP Vote To Cut Funds May Threaten Future Budget Deals | Marketplace Radio
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Cutting Energy Subsidies | CBS Radio’s Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Big Beautiful Bill Delivers Win for HSAs | Eye on the World with John Batchelor (CBS Radio)
- | Government Spending Government Spending
- | Podcast Appearance Podcast Appearance
Debt, Freedom, and the Fight for Growth | Going Big! Podcast
- | Government Spending Government Spending
- | TV Appearance TV Appearance
Critic of Congress Tax Bill – It’s a ‘Monstrosity' | CBC News
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
The Future of Your Retirement: Why Medicare and Social Security May Collapse | The Manny Munoz Show (WIOD)
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Trump’s Disappointing New Budget | Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Spending by American Companies on Computers in Q1 Grew at the Fastest Pace Since 1983 | Marketplace Radio
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Apple Moves iPhone Production From China to India | Lars Larson Show
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Republicans Can’t Shrink Government by Ballooning the Deficit | CBS Radio’s Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Tariffs Cost Manufacturing Jobs | Eye on the World with John Batchelor (CBS Radio)
- | Government Spending Government Spending
- | TV Appearance TV Appearance
It’s Strictly Business? Trump’s Tariffs & the Erosion of Trust in the United States | The Debate (France 24)
- | Government Spending Government Spending
- | TV Appearance TV Appearance
The Future of Social Security | C-SPAN’s “Washington Journal”
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Exiting Education Department | Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Will Defense Spending Avoid the Scalpel Again? | Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Podcast Appearance Podcast Appearance
The Latest Inflation Numbers | The Alan Nathan Show
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
Cutting Waste and Fixing Entitlements | The Rod and Greg Show
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
DOGE: What Would Milton Friedman Do? | Eye on the World with John Batchelor
- | Government Spending Government Spending
- | Radio Appearance Radio Appearance
DOGE in DC – What Congress Must Do | CBS Radio’s “Eye on the World with John Batchelor”
Latest work in Government Spending
- | Government Spending Government Spending
- | Public Interest Comments Public Interest Comments
Response to Request for Information on Supporting Flexible Work and Independent Contractors through Universal Savings Accounts
- | Government Spending Government Spending
- | Federal Testimonies Federal Testimonies
Child Savings Accounts Are Not the Best Way to Help Low-Income Families Save
US Senate Committee on Finance | Child Savings Accounts and Other Tax-Advantaged Accounts Benefiting American Children
- | Government Spending Government Spending
- | Federal Testimonies Federal Testimonies
The Windfall Elimination Provision and Government Pension Offset
Statement of Charles P. Blahous Before the Social Security Subcommittee of the U.S. House Ways and Means Committee
- | Government Spending Government Spending
- | Federal Testimonies Federal Testimonies
Improving CBO Projections
- | Government Spending Government Spending
- | Federal Testimonies Federal Testimonies
Investing in the Future: Safeguarding Municipal Bonds from Climate Risk
Written Statement of Eric M. Leeper to the Committee on the Budget of the United States Senate
- | Government Spending Government Spending
- | Federal Testimonies Federal Testimonies
"Bidenomics" Is Not the Solution to Helping Low Income Americans
US Senate Committee on the Budget | Reducing Inequality, Fueling Growth: How Public Investment Promotes Prosperity for All
- | Government Spending Government Spending
- | Federal Testimonies Federal Testimonies
Spending Growth, Not Tax Policy, Is the Main Driver of Federal Debt
US Senate Committee on the Budget | The Rich Get Richer, Deficits Get Bigger: How Tax Cuts for the Wealthy and Corporations Drive the National Debt
- | Corporate Welfare Corporate Welfare
- | State Testimonies State Testimonies
An Interstate Compact to End Company-Specific Subsidies
Testimony before the Illinois General Assembly, House Revenue and Finance Committee
- | Corporate Welfare Corporate Welfare
- | State Testimonies State Testimonies
Ending Nondisclosure Agreements Would Reduce Subsidy Waste
Testimony before the Illinois General Assembly, House Revenue and Finance Committee
- | Government Spending Government Spending
- | Public Interest Comments Public Interest Comments
Project No. 3-20 Proposed Changes May Obscure Government Fiscal Health
- | Government Spending Government Spending
- | Public Interest Comments Public Interest Comments
Poor Americans Will Suffer from a Paid Leave Mandate
- | Corporate Welfare Corporate Welfare
- | Federal Testimonies Federal Testimonies
Congress Should Reflect on Past Financial Relief Before Providing More
Testimony before the US Senate, Committee on Homeland Security and Governmental Affairs
- | Government Spending Government Spending
- | Public Interest Comments Public Interest Comments
Comments on the Ex-Im Bank's Proposed Additionality Criteria
- | Government Spending Government Spending
- | Public Interest Comments Public Interest Comments
Comments on the Ex-Im Bank's Current Economic Impact Procedures
- | Government Spending Government Spending
- | Public Interest Comments Public Interest Comments
Comments on the Ex-Im Bank's Proposed Additionality Criteria
- | Government Spending Government Spending
- | State Testimonies State Testimonies
Pennsylvania's Fiscal Health: Current Status and Recommendations for Improvement
Testimony before the York County, Pennsylvania Legislative Delegation
- | Academic & Student Programs Academic & Student Programs
- | Government Spending Government Spending
- | Federal Testimonies Federal Testimonies
How to Make the BLS Better
Testimony before the House Committee on Education and the Workforce, Subcommittee on Health, Employment, Labor, and Pensions
- | Government Spending Government Spending
- | Federal Testimonies Federal Testimonies
Curbing Wasteful Year-End Federal Government Spending: Reforming "Use It or Lose It" Rules
Testimony before the Senate Committee on Homeland Security and Governmental Affairs
- | Government Spending Government Spending
- | Federal Testimonies Federal Testimonies
The Need for Constitutional Budget Reform
Testimony before the House Committee on the Judiciary
- | Government Spending Government Spending
- | Public Interest Comments Public Interest Comments
Response to Presidential Memorandum on Fiduciary Duty Rule
Latest work in Government Spending
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Tracking Efforts to Shrink the Size of the Federal Workforce: July 2025 Update | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
What Kind of Government Do Americans Want Seriously Enough to Pay For? | Creators Syndicate
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Trade Deals That Cost Us More | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Trump's Fed Battle a Matter of Fiscal – Not Just Political – Control | Creators Syndicate
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Sovereign Wealth Funds: A Political Slush Fund in Disguise | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Tariffs Don’t Make American Cars Great Again | National Review’s “The Corner”
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
How Much Did Macroeconomic Policy Matter? | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Subsidies and Sports: How Government Picks Winners and Distorts the Game | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Millionaire Taxes Don’t Deliver: Lessons from New York and Massachusetts | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
A Rare and Encouraging Rollback of Government Handouts | Creators Syndicate
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
How To Build a City | CapX
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
The Quarterly Ledger: A Review of the Nation’s Balance Sheet, Q3 FY2025 | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Government Lunches Are Always Expensive | The Corner (National Review)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
The Recycled Myths of Debt Sustainability | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Big Beautiful Bill Delivers Win for HSAs | Creators Syndicate
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Some Republicans Did Fight Hard to Make the One Big Beautiful Bill Act Less Bad | The Corner (National Review)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
The Overlooked Side of the Planned Parenthood Funding Issue | The Corner (National Review)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
What Kind of Government Are You Actually Willing to Fund? The Results Are In | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary
Important Lessons from the 2021–24 Inflation Surge | The Unseen and The Unsaid (Substack)
- | Government Spending Government Spending
- | Expert Commentary Expert Commentary