This post shows the 2012 Federal Budget and Deficit in graphs.
------------------------------
This blog has previously looked at the 2012 United States Federal budget. We'll now look at it graphically.
http://debatablypolitical.blogspot.com/2012/09/rome-didnt-fall-in-day.html
Current Federal spending is about 3.9 trillion dollars annually, whereas tax receipts are about 2.6 trillion. This leaves an annual Federal deficit of about 1.3 trillion dollars.
The spending categories which have traditionally been considered sacred: Social Security, Defense, Medicare, and Interest, account for about 60% of Federal Spending. It's simplest to look at the charts.
------------------------------
This blog has previously looked at the 2012 United States Federal budget. We'll now look at it graphically.
http://debatablypolitical.blogspot.com/2012/09/rome-didnt-fall-in-day.html
Current Federal spending is about 3.9 trillion dollars annually, whereas tax receipts are about 2.6 trillion. This leaves an annual Federal deficit of about 1.3 trillion dollars.
The spending categories which have traditionally been considered sacred: Social Security, Defense, Medicare, and Interest, account for about 60% of Federal Spending. It's simplest to look at the charts.
If we overlay the spending categories with the funding picture, we can see that current tax revenue barely covers the "sacred" categories.
We cannot virtually eliminate all other functions of government to pay for defense and elder care. To reduce the deficit will require tax increases, as well as cuts to the "sacred" categories of Social Security, Defense, and Medicare.
No comments:
Post a Comment