I’ve talked some here problems with our federal government’s finances. Perotcharts.com has a good set of charts explaining the situation, and which culminate with this chart. It quickly and easily describes visually what can be much more difficult to communicate verbally.
Tag: federal debt
So What Ought To Be Done?
“President Bush put in tax rate cuts. This boosted the economy and tax revenue is up. So it wasn’t a “tax cut”, because tax revenue increased. It was a tax rate cut and it worked perfectly.” (http://www.federalbudget.com) So just increasing taxes doesn’t necessarily help—in fact it could actually hurt. Cutting spending is the only solution.
The Federal Deficit: Making It Worse
To make matters worse, our government is spending at an extraordinary rate. Though officially the budget deficit (the amount spent beyond what is brought in each year) is in the hundreds of billions of dollars, according to experts, it’s actually much higher: “Congress uses “cash accounting” — an accounting practice that would be illegal for
The Problem of National Debt
If money were no issue, while these numbers on defense spending might seem amazing, we might also just shrug and say no big deal. But this all has to be paid somehow, and has to be paid by us eventually. The problem is, I believe, that government spending and borrowing are a mystery to most
Borrowing A Billion Dollars — Every Day
“Most Americans are vaguely aware that Congress has run up huge deficits in recent years, but the numbers involved are so large that it’s hard to grasp what our government’s indebtedness really means to us as individuals. “The total federal debt is quickly approaching $8 trillion, courtesy of an administration that borrows roughly one billion