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Quote of the Day: From Your Federal Government
“These pie charts show the relative sizes of the major categories of federal income and outlays for fiscal year 2019.” That’s from page 110 of the IRS instructions for your 2020 taxes. Here are the charts:
If the IRS had a nickel for every liberal who thinks military spending is the reason we have a debt problem, maybe we could use them to do something about the debt. But it turns out badly managed federal welfare programs are actually more than double military spending.
Interest on the debt is already over a third the size of military spending.
A full 22% of the federal so-called “income” came from borrowing!
It’s bad. It’s very bad. Until the welfare programs are reformed, it’s going to remain very, very bad. I wish we could bring Paul Ryan out of retirement for this one last job.
Published in General
Look at the Social Security, Medicare and Other category!!! Good grief! I spoke to a young lady over the weekend from Venezuela. Please – don’t let that happen here…………
The ” It was already backed into the cake ” Paul Ryan ?
Bwahahahahahahahahahahah!!!!!!!!
That cake was the largest
budgetomnibus spending bill to date with him seated as speaker of a republican house.No, he needs a noose for many other things including that omnibus.
Maybe this post could help Sen. Diane Feinstein, who doesn’t seem to understand the fundamentals of income and outlays of federal government budgeting, despite that she has been involved in government politics for decades. See the post on Biden’s “balanced” budget by @occupantcdn below.
Well, I don’t want to say that stuff was good. But how bad was it by comparison–how much money was involved there compared to the entitlements?
More importantly, I said “this one last job.”
I.e., just one. Not omnibus spending. Just the entitlement reform.
Did I miss it when someone else was pushing for better entitlement reforms?
I thought went spent 3% on developing viruses in Wuhan. They must hide that in the “foreign aid”.
They can’t help themselves. Buying votes with giveaways is the only thing they know how to do. Both parties. And bad as it is, Xiden Inc. will add trillions to those awful statistics. The spending spree won’t stop. Ever. Not until the coming financial crisis brings the game to a screeching halt. Only bankruptcy will force the needed mucking-out of the budgetary stables.
Page 110?!!??!!!
Wouldn’t want to be accused of not being transparent.
And, don’t forget, Xiden Inc has plans to require banks to report change in bank balances to the IRS. Expanding the surveillance state plus increasing the tax rates. That’s the plan to address the problem … a couple additional turns of the screws.
It doen’s say how much of our “income” comes from just printing money as fast as they can.
To be fair, there is some real transparency here. On the size of the debt I wouldn’t want the government bureaucrats to escape their fair share of the blame, but I wouldn’t want the people to escape it either. We keep voting for this debt.
No one told me there would be math.
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Shouldn’t national defense be included under social programs? (I’m referring to the unwoke kind of national defense.)
I love data. Just the fact ma’am.
That guy doesn’t even look like Data.
Anyway, Spock is better.
Note: Borrowing is not income.
But better than both is something you can refer to quickly to learn what you need to know, which is to say…
+
We should not let people vote if they don’t know the basics of your graph Saint Augustine.
That’s why the likes of a Paul Ryan are gone from our political scene. Trump turned the GOP into Dem Lite saying he wouldn’t touch entitlements under any circumstances. As H. L. Mencken said, “Democracy is the theory that the common people know what they want and deserve to get it good and hard.”
The plan is to keep printing money. Hyperinflation is on the horizon, which will wreck what’s left of the middle class (feature, not bug to those who love MMT,) and take care of that pesky interest problem. Who needs the dollar as the reserve currency anyway? You will own nothing, and you will like it. Or else.
Trump was right to do so. The people cannot be made numerate.
But to be fair to Trump, his Kudlowish optimism about growing the economy out of the debt problem is surely part of the solution.
It was a part that was working, too. That deregulation works.
Lyin’ Ryan is and always was a Chamber of Commerce fraudster. There will be no “reform” until real wages and real employment of American citizens sharply increases in the lower quintiles, which will only happen in the teeth of opposition from Lyin’ Ryan and the Chamber of Commerce and all the “conservative” economic think tanks.
Are there better entitlement reform ideas that I don’t know about?
But this looks like it’s on a different topic anyway. I probably don’t know anything about it. How do we accomplish this employment and wage increase? Trumpy deregulation, I hope.
Looks like he is about to say resistance is futile.
What do the “conservative” economic think tanks advocate that isn’t conservative.