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"Federal Spending by the Numbers - 2012
"Federal Spending by the Numbers - 2012
Introduction The federal government has closed out its fourth straight year of trillion-dollar-plus deficits, and the imperative to rein in spending has never been greater. Because all government spending gets paid for through either taxes or borrowing—both of which burden the economy— spending reduction is an essential condition for promoting economic growth... ....Federal entitlements are driving this spending growth, having increased from less than half of total federal outlays just 20 years ago to nearly 62 percent in 2012. Three major programs—Medicare, Medicaid, and Social Security—dominate in size and growth.... ....Other entitlements continue growing as well. Anti-poverty programs have surged by 49 percent in just the past decade, even after adjusting for inflation. Spending for food stamps alone has more than tripled since 2002. Health programs, including Medicaid, have increased by 38 percent, and housing assistance by 48 percent... In 1962, defense spending was nearly half the total federal budget (49 percent); Social Security and other mandatory programs were less than one-third of the budget (31 percent). Two major entitlement programs, Medicaid and Medicare, were signed into law by President Johnson in 1965. In 2012 entitlements were nearly 62 percent of total spending, while defense dropped to less than one-fifth (18.7 percent) of the budget......" |
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"Federal Spending by the Numbers - 2012
PJ O'D wrote: "Federal Spending by the Numbers - 2012 Introduction The federal government has closed out its fourth straight year of trillion-dollar-plus deficits, and the imperative to rein in spending has never been greater. Because all government spending gets paid for through either taxes or borrowing—both of which burden the economy— spending reduction is an essential condition for promoting economic growth... Eliminating them federal deficit will cause a depression. That is a fact. Pretending doesn't change facts. Laws were passed in 2011 that go into effect Jan 2 2013. Those laws cut the deficit in half by spending cuts and allowing tax cuts to expire. That is being called a "fiscal cliff" because if those laws go into effect it will trigger a depression. Cutting the deficit won't promote economic growth. It will cause a depression. |
#3
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"Federal Spending by the Numbers - 2012
On Dec 19, 3:25*am, "PJ O'D" wrote:
"Federal Spending by the Numbers - 2012 Introduction The federal government has closed out its fourth straight year of trillion-dollar-plus deficits, and the imperative to rein in spending has never been greater. Because all government spending gets paid for through either taxes or borrowing—both of which burden the economy— spending reduction is an essential condition for promoting economic growth... ...Federal entitlements are driving this spending growth, having increased from less than half of total federal outlays just 20 years ago to nearly 62 percent in 2012. Three major programs—Medicare, Medicaid, and Social Security—dominate in size and growth.... ...Other entitlements continue growing as well. Anti-poverty programs have surged by 49 percent in just the past decade, even after adjusting for inflation. Spending for food stamps alone has more than tripled since 2002. Health programs, including Medicaid, have increased by 38 percent, and housing assistance by 48 percent... In 1962, defense spending was nearly half the total federal budget (49 percent); Social Security and other mandatory programs were less than one-third of the budget (31 percent). Two major entitlement programs, Medicaid and Medicare, were signed into law by President Johnson in 1965. In 2012 entitlements were nearly 62 percent of total spending, while defense dropped to less than one-fifth (18.7 percent) of the budget......" Here are a couple of quotes (and a video) from Ronald Reagan: “Social Security has nothing to do with the deficit. Social Security is totally funded by the payroll tax levied on employer and employee.” “Social Security has nothing to do with balancing a budget or erasing or lowering the deficit.” |
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"Federal Spending by the Numbers - 2012
"Federal Spending by the Numbers - 2012
Introduction The federal government has closed out its fourth straight year of trillion-dollar-plus deficits, and the imperative to rein in spending has never been greater. Because all government spending gets paid for through either taxes or borrowing—both of which burden the economy— spending reduction is an essential condition for promoting economic growth... Eliminating them federal deficit will cause a depression. That is a fact. Pretending doesn't change facts. Boehner knows this which is why he he is caving. Laws were passed in 2011 that go into effect Jan 2 2013. Those laws cut the deficit in half by spending cuts and allowing tax cuts to expire. That is being called a "fiscal cliff" because if those laws go into effect it will trigger a depression. Cutting the deficit won't promote economic growth. It will cause a depression. And an even bigger deficit. Austerity: free marketry w/o money. Reaganomics: free marketry w/o free speech. Teabagnomics: free marketry w/o free speech or money Bret Cahill |
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"Federal Spending by the Numbers - 2012
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"Federal Spending by the Numbers - 2012
An economist on national TV showed bar graphs for the average daily
spending (from memory-HHS, Medicare, SS, military, gov't operating costs, etc) in Nov 2012 by the US government. Rounding it out it was 11 billion dollars a day including 0.8+ billion in interest payments. The US government took in a revenue of 5 billion dollars a day for Nov 2012. Assuming he's wrong and he threw his career under the bus on national TV, what are the real numbers for spending vs revenue? His are 120% and what would be a good % for spending money that you don't have that you must borrow daily? |
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