We're Screwed!

Gipper

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Thanks to big government politicians (i.e. liberals and progressives)...and other than a few conservative/Tea Party Republicans, no one in Congress is working to solve the problem.

The D party has no intention of controlling entitlements or spending evidenced by BO's joke of a budget...

Here's The Only Chart You Need To See To Understand Why The US Is Screwed
Henry Blodget | Feb. 28, 2011, 8:39 AM | 107,515 | 279

We're still working our way through Kleiner Perkins' partner Mary Meeker's excellent analysis of the financial condition of the United States.
We'll be breaking out some key sections in the next few days. In the meantime, here's the one chart you need to see to understand why the US is screwed.
This is the "income statement" of the United States in 2010. "Revenue" is on the left. "Expenses" are on the right.
Note a few things...
First, "Revenue" is tiny relative to "Expenses."
Second, most of the expense is entitlement programs, not defense, education, or any of the other line items that most budget crusaders normally howl about.
Third, as horrifying as these charts are, they don't even show the trends of these two pies: The "expense" pie is growing like gangbusters, driven by the explosive growth of the entitlement programs that no one in government even has the balls to talk about. "Revenue" is barely growing at all.
As we'll illustrate with more of Mary's charts next week, the US cannot grow its way out of this problem. It needs to cut spending, specifically entitlement spending. We hereby announce that we'll give a special gold star to the first "leader" with the guts to say that publicly.

usa-income-statement.jpg


Read more: http://www.businessinsider.com/the-...nd-why-the-us-is-screwed-2011-2#ixzz1FRnP3dYi
 
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Is this not a problem? Apparently BO and his party do not think so. I suspect they believe like some here at the HOP, that all we need to do is raise taxes. :rolleyes:

by-the-governments-own-estimate-entitlement-spending-plus-the-interest-on-our-debt-will-consume-all-government-revenue-by-2025-freaked-out-yet.jpg
 
Do they believe that the solution to the problem of high debt and deficit is to raise taxes or is it that the goal is high taxes all along?
 
Thanks to big government politicians (i.e. liberals and progressives)...and other than a few conservative/Tea Party Republicans, no one in Congress is working to solve the problem.

The D party has no intention of controlling entitlements or spending evidenced by BO's joke of a budget...

There's an error in the chart on the right (F2010 Expenses). It shows "Net interest" as being $196 billion. But that includes the interest paid on the national Debt in 2010... MINUS the interest the govt charges for lending out various monies in other programs.

That interest the govt charges, is revenue, not an expense. It doesn't belong in that chart at all. It should be in the chart on the left (F2010 Revenue), not the one on the right (F2010 Expenses).

This "error" frequently occurs in govt reports on how much they are spending. It's put there to fool people into believing the Govt is paying only $196 billion per year for interest on the National Debt.

In fact, the govt paid $425.1 billion for interest on the National Debt in 2010.

http://www.census.gov/compendia/statab/2011/tables/11s0471.xls

That's $1,370 for every man, woman, and child in the U.S.

Or nearly $5,500 for each family of 4.

Could your family have used that $5,500 for something else?

And that's just in the year 2010. They're paying a similar amount again, every year. And with the record doubling of the size of the National Debt we're seeing in the Obama admin's plans, guess what will happen to the amount paid for interest on that Debt.

Watch that "creative bookkeeping". Interest Paid, goes in the Expense column. Interest Charged, goes in the Revenue column. Simple, straightforward, and accurate...

...but NOT what the govt wants you to find out.
 
Like i said,,If Hitler would had won the war the World would been a better place.

If the South would won the war the Nation would been better off.
 
I agree, we do spend way to much on military spending thanks for the graph.

I agree.

But, I guess you think the unsustainable spending on your beloved socialistic entitlements should stay unchanged, since you only chose to cut military spending. Most inconsistent, but most liberal.

Liberals! They really have no clue and yet they are running our government and many of our largest institutions. CRAZY!
 
And why are they running so much of our government?

I answered that question a year ago:

https://www.houseofpolitics.com/forum/showthread.php?p=137634

.

I agree.

The Rs were and many still are, are bunch of stinking progressives. The American public turned to BO and the Dems in 2008 thinking they would be different than the Rs. Of course, many voters did not expect BO to be a socialist even though it was apparent well before the election.

Thanks to the left wing media many Americans were duped.

But the sliver lining in all of this is hopefully America now knows that liberalism and all it's sister ideologies SUCK. And, they turn out BO and all his commie conspirators come 2012. I foresee results similar to 1980.

350px-ElectoralCollege1980.svg.png
 
I agree.

But, I guess you think the unsustainable spending on your beloved socialistic entitlements should stay unchanged, since you only chose to cut military spending. Most inconsistent, but most liberal.

Liberals! They really have no clue and yet they are running our government and many of our largest institutions. CRAZY!

I never said that no changes should happen to any entitlements...Thats the thing about people like you...you think that we should cut what ever you want...to as much as you want....but don't have to listen to what others want to cut and how much...And your side for the most part will not touch one of the biggest spending areas we have...
 
...And your side for the most part will not touch one of the biggest spending areas we have...

This is a lot like a bunch of people in an airliner, when one or more engines start losing power over the ocean and the pilot says we have to lighten the plane to make it able to reach land. POS wants you to listen just as seriously to those who want to start cutting pieces off the wing to lighten it, as you listen to people who say we have to throw out the suitcases and water bottles.

:rolleyes: :rolleyes: :rolleyes:
 
I never said that no changes should happen to any entitlements...Thats the thing about people like you...you think that we should cut what ever you want...to as much as you want....but don't have to listen to what others want to cut and how much...And your side for the most part will not touch one of the biggest spending areas we have...

I know you are obsessed with cutting defense. Why is it liberals always want to cut defense spending, but nothing else?

At any rate, I already stated defense spending should be cut and so have many conservatives and Rs. But, I have yet to hear any libs or Dems indicate they are willing to cut entitlements.

Oh the hypocrisy!
 
Social Security, Medicare and Umemployment have their own taxes.

Just imagine if you have to pay a 5% Pentagon Tax.

Social Security and Medicare taxes
Main article: Federal Insurance Contributions Act tax

Federal social insurance taxes are imposed equally on employers[5] and employees,[6] consisting of a tax of 6.2% of wages up to an annual wage maximum ($106,800 in 2010) plus a tax of 1.45% of total wages.[7] In 2011, the employee's contribution was reduced to 4.2%, while the employer's portion remained at 6.2%.[8] To the extent an employee's portion of the 6.2% tax exceeded the maximum by reason of multiple employers, the employee is entitled to a refundable tax credit upon filing an income tax return for the year.[9]

Employers are subject to unemployment taxes by the federal[10] and all state governments. The tax is a percentage of taxable wages[11] with a cap. The tax rate and cap vary by jurisdiction and by employer's industry and experience rating. For 2009, the typical maximum tax per employee was under $1,000.[12] Some states also impose unemployment, disability insurance, or similar taxes on employees.[13]

http://en.wikipedia.org/wiki/Payroll_tax


Comrade Stalin
 
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Social Security, Medicare and Unemployment have their own taxes.

Just imagine if you have to pay a 5% Pentagon Tax.

With socials security you know exactly how much you are paying.

It should be a law that for every tax you pay you are told exactly how much you pay. There should be a line on your w2 saying how much of your tax went to the pentagon.
 
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