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.
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.