Economic Cheer
A couple of charts showing how screwed we are. And this:
If the entire U.S budget were cut to zero, effective immediately—the military, all entitlements, the electricity bill for the Capitol—there still wouldn’t be enough money to cover the payments on old debt that come due every day.
July 26th, 2011 at 10:30 am
Of course, if it wasn’t for Bush and those Tea Partyers, the Anointed One would have solved this lickity split! Well, that’s what he claimed last night on the TeeWee!
July 26th, 2011 at 11:44 am
But the One is soooo smart, soooo articulate, soooo cool that none of that matters– don’t you inbred, Bible-thumping, gun-nut, simpletons know anything?
July 26th, 2011 at 12:04 pm
We have money! We still have ink!
July 26th, 2011 at 12:46 pm
The congressholes and the community organizer should be fired.
July 26th, 2011 at 2:30 pm
Last year we had interest payments on the debt of $413 billion vs revenue of 2.1 trillion. That leaves about 1.7 trillion roughly that the government could spend. That would allow money for the paydown of existing debt and some funding for government programs(at a drastically lower level of course). That statement doesn’t seem accurate.
July 26th, 2011 at 4:22 pm
If you spent $1 million a day, every day, since Jesus Christ was born until today, you still would not have spent $1 trillion.
It’s as if we were having budget talks to a recently unfrozen Dr. Evil who does not understand the word “billion”.
July 26th, 2011 at 4:50 pm
I’m with BigP. There’s no mention of incoming revenues (~180B/month according to a few sources, so I’ve heard) and no mention of what the monthly debt payment is (~19B/month, according to those same fly-by-night sources). Funny how the article ends with “Are there other ways that you’d like to see the budget visualized?” How about “accurately.”
Two charts and a couple of paragraphs with incomplete information and Chris Wilson thinks he’s made his case?
Now, don’t get me wrong, the situation is dire, but mostly for those feeding off the gov’t teat, *if* we can keep melting the congressional phone system reminding the republicritters not to back down so that should the limit not be increased, then the things that don’t get paid are the things that should never have been paid in the first place. Dept. of Education, Dept. of Energy, and the EPA for starters.
July 26th, 2011 at 4:54 pm
Hey, now. If all expenses are cut to zero, no one is around to collect the revenue. Brilliant!