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View Full Version : EU federal budget 20x smaller than US federal budget



Maciamo
24-01-06, 13:51
Euroskeptics who think that the EU is wasting their money should reconsider. The EU's annual budget represents less than 1% of the EU's GDP, 20x less than the US Federal budget.

In 2005, the US Federal government spent $2,466 billion. The EU only spent 105 billions, i.e. 23.5x less for a population of 480 million, against 300 million for the USA. Proportionally to its population, the EU thus spends 37.5x less than the US Federal government.

The European Union overtook the USA as the largest economy in the world in 2005, with a GDP of 12,865,602 vs. 11,734,300, according to the International Monetary Fund.

Duo
29-01-06, 05:01
I thought that the EU budget was 1% of the Gross National Product(GNP) of all EU countries put together. In either case, would like to see this figure increase, obviously not as much as that of the Federal gov. in the US, that will require more time and more EU friendly attitudes ;) , but for now how about we see the budget rise to about 5%. I think it's a reasonable figure.


Euroskeptics complain about the EU dragging the economy down, how about they give the EU a real chance with some real money to bring things up and about. The EU is already investing in regional development projects; I think this to be a key for the future and prosperity of the EU. Projects like these help to bring up less developed regions and produce more jobs, so giving the EU more money for more EU-based, and not national based projects would be a good way to start improving conditions all around Europe. In either case, this money will circulate in the inner EU market so I see no loss of it.