Fearmongering by the mainstream press, lockstep with Government Officials is generally called propaganda. The self serving expression of "looming debt crisis" has been adopted quite nicely by the press. It is of their own making, this potential Armageddon.
Instead of more blind speculation, and rhetoric, I just thought it might be nice to look at a couple of FACTS... ( God forbid ) so that we are at least armed with some basics as to how we got here, as opposed to the blame game, which get's nobody anywhere.
First it's important to know that total Government receipts in the United States are 4.5 Trillion dollars. About a third of that is personal income tax, the rest is derived from fees, import taxes, and corporate taxes. At 4.5 Trillion per year, with no tax increase, ask yourself a simple question: Does the Government take in plenty of money?
The United States Government takes in more money than any enterprise, corporate or otherwise in the history of mankind.
The Office of Management and Budget prepares the Administration's Budget Proposal to Congress, and maintains documents for the public to review. The link to those documents is: http://www.whitehouse.gov/omb/budget/Historicals
Here's a chart prepared by the OMB:
The pink line on the far end which runs literally off the chart is the current projected debt, about a ten percent increase over last years record breaking debt.
Now, we hear alot that the National Debt was inherited, and caused by wars with Iraq, and a host of other causes ( the endless blame game ) forgotten is the fact that almost a Trillion dollars was borrowed in the very first month of the Obama Administration when both the Senate and the House of Representatives were under Democrat Control. This was called the "Stimulus Package".
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Instead of more blind speculation, and rhetoric, I just thought it might be nice to look at a couple of FACTS... ( God forbid ) so that we are at least armed with some basics as to how we got here, as opposed to the blame game, which get's nobody anywhere.
First it's important to know that total Government receipts in the United States are 4.5 Trillion dollars. About a third of that is personal income tax, the rest is derived from fees, import taxes, and corporate taxes. At 4.5 Trillion per year, with no tax increase, ask yourself a simple question: Does the Government take in plenty of money?
The United States Government takes in more money than any enterprise, corporate or otherwise in the history of mankind.
The Office of Management and Budget prepares the Administration's Budget Proposal to Congress, and maintains documents for the public to review. The link to those documents is: http://www.whitehouse.gov/omb/budget/Historicals
Here's a chart prepared by the OMB:
The pink line on the far end which runs literally off the chart is the current projected debt, about a ten percent increase over last years record breaking debt.
Now, we hear alot that the National Debt was inherited, and caused by wars with Iraq, and a host of other causes ( the endless blame game ) forgotten is the fact that almost a Trillion dollars was borrowed in the very first month of the Obama Administration when both the Senate and the House of Representatives were under Democrat Control. This was called the "Stimulus Package".
The Above Chart is a Debt to Jobs Chart. It shows the creation of new jobs (green line) to the amount of Debt (red line). Notice that Debt has risen sharply, new job creation is down sharply. It is not lost upon the American public that the unemployment rate has risen from 6% ( before the Stimulus Package ) to 9.5 percent currently.
When you hear there is a "looming debt crisis" and you hear the media predict the end of mankind, and emergency remedies, remember, the Government doesn't need any more money, it needs to manage better what it is already taking in.
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Lon
Dunn writes on Evan Carmichael as a productivity and efficiency
expert. He wrote and edited The Thesaurus News from 1995 to 2001
with a specialty in Telephony Infastructure Stocks. With over 20
years following the Mobile Industry, Lon helps Companies,
Professionals and Organizations develop Mobile Marketing Strategies
combined with Social Media Strategies to strategically target
specific markets and demographics to rapidly increase revenues. His
most recent book available on Amazon is “How to Use Twitter for
Local Business” with Tips and Mobile Marketing Strategies that
anyone can do themselves. You can download the free “Kindle App
for PC to download the book to your Desktop available on the Kindle
Site:
http://www.amazon.com/How-Twitter-Local-Business-ebook/dp/B007VSR6Y2
