The Inflation Reduction Act of 2022 ballooned the Internal Revenue Service (IRS) budget, with the bulk of new spending aimed at tougher enforcement. The law boosted IRS spending by $79 billion over coming years, which will double the agency’s budget by 2031 and grow its workforce by tens of thousands.
Downsizing Blog
Fast Facts about Medicare and Social Security
Medicare and Social Security are the two largest federal government programs that are also growing the fastest.
Biden’s IRS Enforcement Budget to Skyrocket
The Inflation Reduction Act of 2022 ballooned the Internal Revenue Service (IRS) budget, with the bulk of new spending aimed at tougher enforcement.
SNAP: A Nutrition Failure
Spending on the Supplemental Nutrition Assistance Program (SNAP) has doubled since 2019 to $127 billion in 2023.
Farm Bill 2023 and Obesity
A large and growing share of Americans are obese.
SNAP Spending Doubles to $127 Billion
SNAP spending doubled from $63 billion in 2019 to $127 billion in 2023.
The Unsustainable Burdens Posed by the So‐Called Medicare and Social Security Trust Funds
According to the Social Security and Medicare Boards of Trustees’ 2023 reports, Medicare and Social Security now exceed $78 trillion in long‐term unfunded obligations.
Government‐Run Business Fails
Holman Jenkins discusses problems with the air traffic control (ATC) system today in the Wall Street Journal.
Evidence Builds Against the Low‐Income Housing Tax Credit
The Low‐Income Housing Tax Credit (LIHTC) is a federal housing subsidy that allocates tax benefits to the states for constructing apartment buildings and other projects.
Medicare and Social Security Are Responsible for 95 Percent of U.S. Unfunded Obligations
Over the next 75 years, U.S. taxpayers face nearly $80 trillion in long‐term unfunded obligations.