Monday, January 4, 2010
Am I missing something?
U.S. Government Revenue vs. Outlays
Is there something wrong here? Hmmm. So, our "unfunded liabilities" (money we owe because we promised) are in the $100 TRILLION range, yet we feel free to spend far, far more than we take in, and plan to year after year? Somehow, that doesn't seem smart. Or maybe it's so stupid it's smart? No, it's straight-up stupid. There's no way those numbers work.
There is one amusing thing on these. In the year 2000 it shows a surplus. If you remember, Clinton changed the accounting rules so that the shoebox of IOU's for Social Security counted against the deficit, conjuring up a phantom "surplus" for a few years. Kind of cute in a cheap card trick kind of way. Some people even report those "surpluses" as if they were real-life numbers, which is fun.
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