Given all the focus on the debt ceiling, we propose a thought experiment in which all 100 federal agencies must compete for charitable donations. If taxpayers get to choose for themselves what to fund, what might we learn?
- The federal government is “obligated” to spend $4.6 trillion in FY23, with spending by the largest agencies outlined in the bottom table. This represents nearly $30,000 per taxpayer (2020 total) or 37% of the country’s 2020’s total adjusted gross income.
- Let’s imagine that each of the 100 federal agencies had to compete for their own charitable donations (only the largest agencies are listed below).
- Perhaps the feds would quickly learn how to get government spending under control if taxpayers were given a vote of how to spend their own hard-earned dollars.