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Several basics facts about US Debt and Spending..... trzaska2000 Send a noteboard - 16/04/2011 04:41:55 AM
No matter which side of the political spectrum you find yourself, there are a few facts that are irrefutable:

1. The US Federal debt as a percentage of GDP is at the highest point since WWII, and it is projected to continue increasing per the latest Obama budget.

2. Federal spending as a percentage of GDP is at its highest point in 60 years.

3. Federal deficits as a percentage of GDP are at their highest point in 60 years.

4. The fixed component of spending has increased over time, largely driven by entitlement spending. Many cite military spending as the culprit, but consider the change over time.

In 1968, the US allocated 46% of its budget towards the military. In 2008, that figure was 21%. Compare that to the sum of Medicare, Medicaid and Social Security. In 1968, these three items accounted for 17% of federal spending. In 2008, they accounted for 41%.

-------------------------------------------------------

Now for the opinion. We are in deep, deep trouble and entitlement spending needs to be scaled back significantly. We can't afford these reckless promises of the past. Either we start cutting now or we will end up like much of Europe and have to take extreme austerity measures when our house of cards comes crashing down.

If you disagree with this, please offer your solution.
*MySmiley*
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Several basics facts about US Debt and Spending..... trzaska2000 - 16/04/2011 04:41:55 AM 1275 Views
Well ... at least we've been here before ... ? The_Muted_Grimaud - 16/04/2011 06:41:00 AM 789 Views
Guess we should have okay'd those death panels for old people then. Big money saver. *NM* TaskmasterJack - 16/04/2011 03:38:00 PM 412 Views
Yeah, those old people are draining the system..... trzaska2000 - 16/04/2011 06:57:59 PM 806 Views
You're already worse off than much of Europe, honestly. Legolas - 16/04/2011 04:08:37 PM 912 Views
Re: You're already worse off than much of Europe, honestly. Tihs Tnuc - 17/04/2011 01:33:31 AM 927 Views
Balancing our budget would be easy. ranagrande - 16/04/2011 06:46:32 PM 736 Views
Several of those aren't as easy as you make it sound, but the import tax is a big no-no. Legolas - 16/04/2011 07:34:30 PM 957 Views
Also on the buying drugs from Canada idea Isaac - 16/04/2011 08:17:26 PM 839 Views
Re: Also on the buying drugs from Canada idea Macharius - 18/04/2011 01:59:44 PM 890 Views
Re: Also on the buying drugs from Canada idea Isaac - 18/04/2011 05:16:14 PM 1052 Views
Funny you mentioned WWII and 1968. Can you put tax rates at these times as well? Skeeve the Great - 16/04/2011 07:50:09 PM 1215 Views
Not really. Even if you can substantially raise tax revenue, the entitlement problem remains. *NM* Legolas - 16/04/2011 08:25:26 PM 356 Views
Re: Not really. Even if you can substantially raise tax revenue, the entitlement problem remains. Skeeve the Great - 16/04/2011 09:19:40 PM 876 Views
Have you ever looked at those projections for a decade or two hence? Legolas - 16/04/2011 10:13:12 PM 836 Views
Yes I have Skeeve the Great - 16/04/2011 10:44:50 PM 961 Views
Erm, and you think total health care spending is not getting out of control? I'm a little confused. Legolas - 16/04/2011 11:02:52 PM 887 Views
Yes it's going out of control Skeeve the Great - 16/04/2011 11:17:59 PM 833 Views
Good, we agree on that much then. Legolas - 17/04/2011 09:59:17 AM 811 Views
Exactly. Cutting back on fraud and waste doesn't really put much of a dent in those projections. *NM* Tom - 17/04/2011 02:31:13 AM 335 Views
Sorry, but that is a stupid opinion..... trzaska2000 - 16/04/2011 08:38:35 PM 803 Views
Sounds like another bull. Skeeve the Great - 16/04/2011 09:31:05 PM 1054 Views
Dude, the data is the data.....tax revenue increased all three times. trzaska2000 - 16/04/2011 09:47:37 PM 1014 Views
As I suspected, it's a bull. Skeeve the Great - 16/04/2011 10:02:05 PM 925 Views
Stop being a fool - read and react to the data provided, posting something..... trzaska2000 - 16/04/2011 10:14:11 PM 694 Views
Response is Skeeve the Great - 16/04/2011 10:19:00 PM 910 Views
Good lord.....it's like talking to a brick. I really hope you are 12 or 13. trzaska2000 - 16/04/2011 10:28:44 PM 910 Views
Re: Good lord.....it's like talking to a brick. I really hope you are 12 or 13. Skeeve the Great - 16/04/2011 10:47:24 PM 873 Views
I take it you mean "rate of revenue growth decreases". Legolas - 16/04/2011 11:11:19 PM 793 Views
Re: I take it you mean "rate of revenue growth decreases". Skeeve the Great - 16/04/2011 11:26:02 PM 931 Views
Additional point Skeeve the Great - 16/04/2011 11:37:17 PM 921 Views
It's not remarkable that revenue increased after the Reagan cuts. Tom - 17/04/2011 07:21:47 PM 1099 Views
I've just noticed that you've provided charts from Heritage Foundation! Are you f.. kidding me? Skeeve the Great - 16/04/2011 10:13:46 PM 786 Views
All the data is via CBO - do you know that the CBO is? trzaska2000 - 16/04/2011 10:16:08 PM 800 Views
Re: All the data is via CBO - do you know that the CBO is? Skeeve the Great - 16/04/2011 10:27:01 PM 909 Views
Nice try.....care to explain why the same exact thing happened..... trzaska2000 - 16/04/2011 10:35:44 PM 728 Views
Re: Nice try.....care to explain why the same exact thing happened..... Skeeve the Great - 16/04/2011 10:49:33 PM 880 Views
Krugman is a shill for the Obama administration. Tom - 17/04/2011 02:34:50 AM 745 Views
Re: Krugman is a shill for the Obama administration. Skeeve the Great - 17/04/2011 03:50:24 AM 965 Views
Some obesrvations by Republican economists Skeeve the Great - 18/04/2011 12:27:04 AM 1108 Views
You mean the Keynesian economist who wrote The Failure of Reaganomics random thoughts - 18/04/2011 04:00:52 PM 740 Views
Re: You mean the Keynesian economist who wrote The Failure of Reaganomics Skeeve the Great - 18/04/2011 05:36:44 PM 730 Views
You use Krugman and then complain about the Heritage Foundation! Are you f.. kidding me? *NM* random thoughts - 18/04/2011 02:46:47 AM 372 Views
Useless fact about our presidents since 1945. heartbreak - 17/04/2011 09:20:16 PM 1010 Views
Re: Several basics facts about US Debt and Spending..... Skeeve the Great - 20/04/2011 03:51:19 PM 1171 Views
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