Friday, January 4, 2013

THE COMPETENCE OF YOUR FEDERAL GOVERNMENT

The Green bar represents the ANNUAL TAX INCREASE under the new fiscal cliff plan.

The Red bar represents the BUDGET DEFICITunder the new fiscal cliff plan. It is the amount MORE than our income that we spend.

Does this tell you ANYTHING about our current crop of politicians? They think they fixed something.

And this doesn't even address the National Debt. For those of you educated in government schools, the Budget Deficit and the National Debe are different.

The Budget Deficit is the difference between what we expect to take in through taxation and what we expect to spend.

The National Debt is what we owe other entities from which we have borrowed money to operate.

They are related in that the greater the Budget Deficit, the more we have to borrow to operate.

There are a lot of people who seem to think this proportion is A-OK.

There are other who say, "Why don't we just increase the Annual Tax Increase to make up the difference?"

That's the height of stupidity.

There isn't enough income to tax at a rate that would make more than a dimple in the Budget Deficit.

There will come a time when all of this will catch up with us, and that time is not far off. Then we will fall as a country.

When we falls, we will fall hard. Harder than you want us to fall.

The graph comes from Zero Hedge.

6 comments:

Darth Bacon said...

No taxes on the middle class?
What a frighten joke

Silverfiddle said...

You've nailed it Joe.

It's all kabuki. The Titanic is still steaming towards the iceberg, but they've slowed it down by a quarter knot.

Let the party continue!

Joe said...

DB: It seems they have the "Middle Class" fooled.

Silverfiddle: A whole quarter knot? WOW!!

Glenn E. Chatfield said...

Demokrats, even moreso than the Republikans, can't understand that money doesn't grow on trees, and just keep on spending on their favorite pork, while burdening our great-great-great-great-grandchildren with staggering debt. What happens when China calls in our IOUs?

Fredd said...

It's a good thing that the GOP retained contoll of the House to reign in the drunken spending of this president and his Democrat controlled Senate, huh Joe?

Joe said...

GEC: I have long advocated one bill/one topic. But it won't happen, because it would interrupt the power protocol.

Fredd: I am so relieved.