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The following charts are per capita, in constant, 2005 dollars.
Federal Revenue
Federal Spending
This is PER PERSON spending...does anyone really think this trend is sustainable?
Most libs really do believe that the second chart is good and sustainable since it would appear to them that it shows money taken in not that which is spent.
Thanks for posting. Nice to see some data. What is the source?
What is interesting about that graph is the variability. Not that after 2000 the income gets highly variable. We all know why income collapsed after 2008, but why did it fall in 2000? Were they both bubbles and crashes, or was the earlier drop due to tax cuts? The huge increase after 2004 does not impress me, because it was the bogus housing bubble.
Certainly expenses seem to have risen, but with two wars, keynesian spending to prop. up the economy in a recession, and a drop in revenue due to tax cuts and a huge financial crash, is now the time to cut revenues?
I agree that the trend in spending is exponential, starting in 2000. But the wars and budget meltdown will both eventually end, so although the trajectory is bad, it my reverse itself soon.
I think it is overly simplistic to say we have either a revenue or spending problem with all the stuff going on.We probably have both. Folks with political agendas want to pin all this on Obama, which is a joke. The jury is out on him and the current congress. If we look at the historic data over a longer arc, the period since 2000 has been characterized by tax cuts, wars, and laissez faire economics, with volatile and unflattering results generally. Clinton policies are looking much better than Bushes, and if Obama/Congress can go back to the 1990s model, it sure looks better than the Bush era, but the latter is what we are being sold by the TP gang.
Last edited by Fiddlehead; 07-23-2011 at 11:33 PM..
You really should plot both graphs on the same plot. Then you could illustrate that the first graph "revenues" has almost never been above the second graph "spending". Second it must be noted that spending on America's welfare class (America's senior citizens ) is between $20,000 to $30,000 (~$20,000 Social Security + $ 7,500 Medicare). If you tried to plot that on those graphs it would be off the charts. This privileged entiled class numbers 55,000,000 projected to grow to 75,000,000 by 2020 and they are not getting any healther so that spending can only go up like a rocket.
Now there will those who protest we earned those benefits and paid for them. The truth is they didn't. At best they only paid in 1/3 of the amount they are going to collect if the laws are unchanged.The rest is going to come from the hard working 20-50 somethings who better not lose their jobs! Otherwise were are going to come up short.
You really should plot both graphs on the same plot. Then you could illustrate that the first graph "revenues" has almost never been above the second graph "spending". Second it must be noted that spending on America's welfare class (America's senior citizens ) is between $20,000 to $30,000 (~$20,000 Social Security + $ 7,500 Medicare). If you tried to plot that on those graphs it would be off the charts. This privileged entiled class numbers 55,000,000 projected to grow to 75,000,000 by 2020 and they are not getting any healther so that spending can only go up like a rocket.
Now there will those who protest we earned those benefits and paid for them. The truth is they didn't. At best they only paid in 1/3 of the amount they are going to collect if the laws are unchanged.The rest is going to come from the hard working 20-50 somethings who better not lose their jobs! Otherwise were are going to come up short.
Good points.
What gets me truly furious is that most of those who will be bleeding us dry in a few year are the same ones who have enjoyed tremendous gifts of the last century in infrastructure,etc.,etc., and are rabid Tea Party types trying to pay the minimum possible taxes during their working years. Let the kids take the tax hikes and until then... nuke the gubbermint! (except my SS check).
what tells me that we have a spending problem is that we can tax all income over $50,000 at 100%, and take all profits from all businesses in the country, and we can run the government at current spending levels for 7 months. that indicates far too much spending.
We have a spending problem. And we certainly have a revenue problem. Close the damn tax loopholes for the rich. End the subsidies for companies who don't need it.
Close the damn tax loopholes for the rich. End the subsidies for companies who don't need it.
GE is probably one of the biggest companies exploiting these subsidies/tax loopholes with green energy credits. Are suggesting we drop those incentives just for GE or all companies?
Also keep in mind if the credit is dropped those projects become non profitable and the cost will either be passed onto the ratepayer if it's mandated or the projects go bye bye.
It's funny because it's liberal energy policy that is driving what has to be the largest subsidized sector in the US benefiting large corporations like GE, Exxon etc.
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chart on historic fall of the US dollar
