Crackup Central: The federal government’s own numbers crunchers project utter budgetary collapse.
By RALPH R. REILAND
Spectator.org
10 9 12
The way the federal government runs things is already bad enough, but it’s officially projected to get only worse, much worse, in the years ahead according to the government’s own number crunchers.
In fiscal year 2011 — October 1, 2010 to September 30, 2011– the Congressional Budget Office (CBO) reports that the federal government spent $3.6 trillion, or 24 percent of the Gross Domestic Product, 24 percent of the monetary value of all the goods and services produced in the United States in that year, the highest federal-spending-to-GDP ratio since World War II.
Federal outlays averaged 19.6 percent and 19.8 percent of GDP, respectively, during the George W. Bush and Bill Clinton administrations.
The CBO also reports that total federal tax revenues in fiscal year 2011 were $2.2 trillion, against $3.6 trillion in spending, producing a shortfall of nearly $1.4 trillion in red ink, a $1.4 trillion annual deficit that’s simply added to the federal debt and paid for by more borrowing and sticking future taxpayers with the tab.
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One of the Greatest Countries of known History and we have reduced ourselves to borrowed time of which the interest owed will be the decisive blow and for those that have accumulated massive wealth per corruption hungry people will eventually come for what you have as I’d start stimulating the economy NOW as it is urgent that Good jobs with benefits happen soon so we don’t need Government healthcare and so stimulation of the economy can occure without printing counterfeit money by the Billions…Money and Gold is not going to help you if people are starving and homeless by the millions as hunger will create the Animal in us all as Americans are used to full stomachs and they won’t have the stomach for starvation and sickness…Their seems to be two realities to this situation and if you’re still untouched I’d start donating funding to everything especially if your tax loop hole as kept you from paying your fair share as this Country is owned by China and the wealthy need to buy it back and get us on the right track…I call this the Loser generation as we lost everything our forefathers fought for in less than a decade as currently we fight wars on all fronts and the true enemy was right here all along selling our souls per our trust…