Did you know that government spending is at a record high while government revenue is at a record low?
As a nation, we are stupid, greedy and adamant – we demand less government spending, no increase in taxes and no change in current benefits.
· The public is livid about federal debt and deficits – we demand that the fiscal house be brought back under control.
· Experts say government debt is an imminent pending disaster.
· Experts and politicians – could there be a starker contrast between two groups – agree that current deficits are unsustainable.
· Experts agree that the problem is entitlements, specifically Medicare but also Social Security – even military spending, which must be reduced, pales in comparison.
· The public has made it unmistakably clear that we are completely unwilling to accept any cuts in government benefits, now or for future generations. This is doubly true of seniors – how shameful. [Here lies an irrefutable argument against direct democracy.]
· Given the state of entitlements and the public attitude, experts are unanimous that the solution to deficits and then debt requires both deep spending cuts and significant revenue increases.
We shall have our hands full selecting leaders who are willing to tell us the truth – right now we prefer demagogues and knaves.
For what it’s worth, government spending is at its highest percent of GDP since 1946 while government revenue is at the lowest percent of GDP since 1943.
· Government spending in 2011 will be more than a quarter of GDP [25.4%] – mean spending since 1946 was 20% of GDP.
· Government revenue in 2011 will be a record low of 14% - mean revenue since 1943 was 18% of GDP.
· Got it? “Normal” spending is up over 5% while “normal” income is down almost 4%. Nine percent of the 2011 economy will be $1.2 trillion and then there’re the years after this one.
· As a result of many factors, spending will increase dramatically in coming years as a result of unfunded promises in our entitlement programs.
The stories we get from lefties and the tea party are utter nonsense.
Level heads in Congress – with a very few exceptions – are saying nothing because the moronic voting public – that’s you and me folks – will shoot the messenger. In 2010, our radical political parties ousted every single sensible person they could. Our angry tea party neighbors righteously took to the streets and then fired anybody who told the truth. The guy with the bully pulpit spends his time either quiet or lying – he has to go.
The truth is that Americans must pay more into government and demand less service. We have to find representatives that will tell us that and then act that way in concert with “the enemy”. Crikey, our leaders will have their hands full – if we can find any.
Spending data.
Revenue data.
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