US federal budget, 2007 - $2.8 trillion (submitted 2006 by President Bush)
US federal budget, 2006 - $2.6 trillion (submitted 2005 by President Bush)
US federal budget, 2005 - $2.4 trillion (submitted 2004 by President Bush)
US federal budget, 2004 - $2.2 trillion (submitted 2003 by President Bush)
US federal budget, 2003 - $2.1 trillion (submitted 2002 by President Bush)
US federal budget, 2002 - $2.0 trillion (submitted 2001 by President Bush)
US federal budget, 2001 - $1.8 trillion (submitted 2000 by President Clinton)
US federal budget, 2000 - $1.8 trillion (submitted 1999 by President Clinton)
US federal budget, 1999 - $1.7 trillion (submitted 1998 by President Clinton)
US federal budget, 1998 - $1.7 trillion (submitted 1997 by President Clinton)
US federal budget, 1997 - $1.6 trillion (submitted 1996 by President Clinton)
US federal budget, 1996 - $1.6 trillion (submitted 1995 by President Clinton)
Year to
30 September
U.S. Govt Debt
US$ billions
1910 2.6
1920 25.9
1930 16.2
1940 43.0
1950 257.4
1960 290.2
1970 389.2
1980 930.2
1990 3,233.3
2000 5,674.2
2005 7,932.7
2006 8,506.9
It looks as if federal spending has increased 60% over six years and there has been a 50% increase in the "on budget" federal debt at the same time. I guess Keynes was right.
ReplyDeleteIt's the Trillions in off budget obligations that will be coming home to roost.
ReplyDeleteThe Iraq War being instructive in that regard. The Federals will have cycled nearly a $ Trillion $ USD through Iraq, in five years, with barely an economic ripple.
So a $13 Trillion USD unfunded liability may not be as great as it appears. Besides the Supremes have Ruled, the Federals do not really owe Social Security benefits, to anyone.
So it's is not a "real" liability.
This comment has been removed by a blog administrator.
ReplyDeleteAnother reason, rufus, to further discount the possibility of covert military operations against Iran.
ReplyDeleteProsperity in the Homeland is going to be of paramount importance come '08.
If it is to be a "Long War" then the successful hand off of Presidental Authority should become the mission of primary importance, from here on out.
Or become the crowning item on the Administrations list of slow cascading failures in TWAT.
To neatly complement Deuce’s thread, see TigerHawk:
ReplyDeleteDefense Spending and GDP
***
Overt was, should, have been the word.
ReplyDeleteThe Administration talked up a mountain, produced a molehill.
Afraid of the ramifications of reality.
Let’s see, you are the government of Kenya and you have in custody jihadist foreign nationals, arrested upon illegally entering your country while fleeing the forces of the lawful government of Somalia, upon whom same jihadists had waged an unlawful war, so, what do you do, what do you do?
ReplyDelete1) Turn the scumbags over to the government of Somalia.
2) Tell the State Department to “bite it.”
Two American Muslims Arrested in Kenya Fighting for Somalia
From LGF
Oh my god, there's so much worthwhile information here!
ReplyDelete