More Proof That We are Screwed

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Here’s The Only Chart You Need To See To Understand Why The US Is Screwed

Henry Blodget | Feb. 28, 2011, 8:39 AM | 82,287 | 263
We’re still working our way through Kleiner Perkins‘ partner Mary Meeker‘s excellent analysis of the financial condition of the United States.
We’ll be breaking out some key sections in the next few days. In the meantime, here’s the one chart you need to see to understand why the US is screwed.
This is the “income statement” of the United States in 2010.  “Revenue” is on the left.  “Expenses” are on the right.
Note a few things…
First, “Revenue” is tiny relative to “Expenses.”
Second, most of the expense is entitlement programs, not defense, education, or any of the other line items that most budget crusaders normally howl about.
Third, as horrifying as these charts are, they don’t even show the trends of these two pies: The “expense” pie is growing like gangbusters, driven by the explosive growth of the entitlement programs that no one in government even has the balls to talk about. “Revenue” is barely growing at all.
As we’ll illustrate with more of Mary’s charts next week, the US cannot grow its way out of this problem. It needs to cut spending, specifically entitlement spending. We hereby announce that we’ll give a special gold star to the first “leader” with the guts to say that publicly.
Here’s the chart.  Click for larger version. SEE ALSO: Your Short Course On Why The US Is Screwed
USA income statement
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Tom in NC
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0 responses to “More Proof That We are Screwed

  1. Progressive Dem LEFT are Statists (large Fed government) and don’t know math. They’re like the greedy wife who grabs her husband’s credit cards and runs out to the mall, cards in extended hand ahead of her, screaming, “CH-AA-RGE! They don’t know how to fix problems. They think the solution is UN’s Global Communism.
    The RIGHT is filled with the good ‘ole boy network of Establishment Neocons, aka Progressives as well. STATISTS as well. They call themselves GOP but they’re not. They’re warmongers and corrupted by multinational businesses who want Global Corporatist Fascism and working to put in place a Police State by carving out at the Constitution, bit by bit! They’ve sold this country out with the Military Industrial Complex and their giving in to the CFRm, who has basically taken over the Secretary of State Dept. You can tell they’re crooks, because for cuts they don’t want to touch the Homeland Security and Militart budgets. And every bill they pass has some secret sale of public resources to prvatization. CRIMES! How do these people sleep at night knowing they are betraying their country and their people?!
    Please VOTE for Ron Paul for 2012. We need a LIBERTARIAN Republican who will wipe out top-heavy government and release us from this EVIL! The Neocon FoxNews won’t supresses Ron Paul’s appearances because he’s not a Neocon and they don’t to endanger a Neocon presidential candidate to Ron Paul’s sheer popularity.

    • Candance Moore

      You really shouldn’t be so hard on Fox News. It’s not perfect, but it’s the only media outlet we have that’s remotely on our side.
      Even if Ron Paul wins, Congress controls the purse strings and SCOTUS is right down the middle. I agree with Sage: there would be very little he could do to help us at this point.

  2. BTW: Defense is a far higher figure than their disclosure. Their blackOps are hidden in difference line items, like miscellaneous, pentagon, red bird, black canary… all BS names intended to hide the actual total. And, Military is a different line item than Homeland Security and different from Defense.
    And, I also wanted to say, that Social Security is NOT an entitlement. Thousands of people payed into it from their paychecks. They payed Medicare as well, as did their employers, however, Medicare is an insurance. But the Social Security funds should NOT be cut for all those who payed into it. Public Employee Pensions need to GO. They payed nothing into those, and many of them ins various States, also collect Social Security for which they never paid into.

  3. Social Security is a TRUST FUND which had 2.5 TRILLION dollars in it before Obama, but he ripped it off. They should be arrested just for this.

  4. Candance Moore

    200 billion in interest payments alone. We paid out more in interest than what we received through corporate taxes. That should really make people nervous.

  5. Seems pretty clear to me…why can’t those in DC do simple math?
    Good grief, if my budget looked anything like that, I woulda been homeless many years ago!

  6. Medicare/Medicaid, Unemployment Insurance, International Defense and non-defense spending amount to 70% of the total budget!
    It’s all welfare!
    A Republican controlled congress dump them all?
    But, I’m not going to hold my breath?

  7. And all the repubes can come up with is a piddling $60 billion in cuts.
    We’re so forked it ain’t even funny.


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