CHART - It's The Spending, Stupid!

A fiscal cliff drop in the bucket.

CHART - CBO Projection Of Federal Spending 2002 - 2022.

Just a quick chart to demonstrate that the fiscal cliff deal on taxes means essentially nothing in the grand scheme of future federal spending.  Chart is from the following story:

Jobs Report - U6 Rate Holds at 14.4%, Actual Employment Falls to 58.6%

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UPDATE - Blink! U.S. Debt Just Grew by $11 Trillion

http://usdebtclock.org/

Comments

[DailyBail]

Here's some quick debt math.

The national debt will hit $25 trillion in 6-7 years. At that point, assuming a normal financing cost of 5% (could be higher if we have inflation, could be lower if we are still in slow growth Japan mode), the INTEREST on the debt will be $1.25 TRILLION annually. Assuming we have federal tax receipts of approximately $3 trillion (they are about $2.6 trillion now), that means we will be spending roughly 40% of all our annual revenue just to pay the interest on the money that we already borrowed.

At 40% no government can survive.

[DailyBail]

IT RISES EVERY YEAR - A Historical Look At Federal Government Spending

http://dailybail.com/home/it-rises-every-year-its-the-spending-stupid-a-historical-loo.html

[LadyLiberty]

How about those great tax breaks for friends of obama the same people who want to screw the seniors

A case of Wall Street greed gone too far

http://www.cnn.com/2013/01/08/opinion/antilla-goldman-stock/index.html?hpt=op_t1

Fiscal Cliff Deal Brings Business Big Benefits Even As Execs Carp

http://www.huffingtonpost.com/2013/01/05/fiscal-cliff-business_n_2412778.html

Why Corporate Subsidies in the Fiscal Cliff Bill Matter: We Can Stop Corruption If We Understand It

Read more at http://www.nakedcapitalism.com/2013/01/why-corporate-subsidies-in-the-fiscal-cliff-bill-matter-we-can-stop-corruption-if-we-understand-it.html#bJE23GebyyEvOyS3.99

Rich Catch a Break With Budget Deal Providing Deductions

http://www.bloomberg.com/news/2013-01-04/rich-catch-a-break-with-budget-deal-providing-deductions.html

Net worth of world's richest rose by $241B in 2012

http://www.chicagotribune.com/business/breaking/chi-net-worth-of-worlds-richest-rose-by-241b-in-2012-20130102,0,3779331.story

Growth of Income Inequality Is Worse Under Obama than Bush

Read more at http://www.nakedcapitalism.com/2012/04/growth-of-income-inequality-is-worse-under-obama-than-bush.html#XOso9jmcTLIOqwhq.99

Tax Avoidance on the rise it's twice the amount of Medicare and Social Security

http://www.nationofchange.org/tax-avoidance-rise-it-s-twice-amount-social-security-and-medicare-1357569601

JPMorgan Employees Join Goldman Sachs Among Top Obama Donors 2012

http://www.bloomberg.com/news/2012-03-20/jpmorgan-employees-join-goldman-sachs-among-top-obama-donors.html

2008

http://www.noquarterusa.net/blog/4939/baracks-wall-street-problem-is-now-americas/


Eric Zuesse: Obama Administration Lies, Then Covers Up, to Minimize BP Liabilities for Deepwater Horizon Disaster

Read more at http://www.nakedcapitalism.com/2013/01/eric-zuesse-obama-administration-lies-then-covers-up-to-minimize-bp-liabilities-for-deepwater-horizon-disaster.html#JPeYTWtLgLc8T0Xg.99

[Mr. Mojo]

Time to acquire some more silver and some more ammo, if I can find any. Both will be currency after this mess collapses.

[rollsthepaul]

Is this the modern version of fiddling while Rome burns?

[AussieObserver]

Strange...not a single comment about your evil war machine? Are you yanks completely stupid?
Seriously, don't you know that's what sending you broke? A nation of total idiots indeed!

[SKINFLINT]

Aussie, many thanks for calling us stupid. However, if you we're to read further into this site, you would find that there is ample discussion on that subject. Hope you are not in that part of Australia that has burst into flames.

[SKINFLINT]

ssie Observer.

http://dailybail.com/home/crime-and-punishment-on-wall-street.html

Beef Jerky

http://dailybail.com/home/pentagon-spends-15-million-to-develop-new-beef-jerky.html

Missing

http://dailybail.com/home/lost-but-not-found-23-trillion-still-missing-at-pentagon.html

http://dailybail.com/home/wake-up-america-the-real-us-budget-problem-defense-war-spend.html


If we are that stupid, then why do we have a plane that costs more than your ENTIRE COUNTRY.

http://dailybail.com/home/the-f-35-a-weapon-that-costs-more-than-australia.html


A sample of Aussie smarts.

http://www.dailymail.co.uk/news/article-2250888/Boy-hatches-snakes-cupboard-Australian-mum-finds-SEVEN-deadly-vipers-sons-wardrobe.html?ns_mchannel=rss&ns_campaign=1490


AND.


http://www.smh.com.au/news/national/steve-irwin-killed-by-stingray/2006/09/04/1157222051512.html



I am sure that you guys have all over us in every other way. Good day to you sir. DB, I will offer apologies to you and others if this is offensive in any way.

[DailyBail]

Skin

Thanks for taking care of that.

[Dudley Nightshade]

Any government program designed by monopolists
will mainly benefit the monopolists by covering the
monopoly blanket over the population as fully as
possible and then draining the population.

The opposite is empowering the population.

[AussieObserver]

A sample of yanky smarts... Proud to be Amercan are you.. And you wonder why you are hated by most of the world!

http://liberty.hypermart.net/cgi-bin/blogs/voices.php/2006/04/29/death_made_in_america

[SKINFLINT]

Aussie, Much to your chagrin, my niece married an Australian so I guess that makes us even. I think sir that what we have is a misguided attempt on your part to voice frustration of our governments on going wars etc. Please take into consideration that not all US people are of a mind for corparate conquests and such. I would certainly not personally hold you accountable for your governments hatred towards the Aborigines in your home land and your countries desire to help our government in Iraq. http://www.countercurrents.org/polya030410.htm Here also is a piece from your country where the eugenics movement was clearly being carried out!!!!!!!!!!!!!!!!!!!!!The Gloomy History of Australia

The Europeans, who established the new settlements in Australia, did not encounter any major resistance from the native population. The aboriginals sometimes helped the white settlers providing food when they faced scarcities. The Aboriginals were no match for the highly armed European settlers. Gradually the natives were attacked and driven to the desert land. In the ill famous Myall Creek massacre in 1830 even the aboriginal children were murdered.

From 1869 to the late 1960s (in some parts until 1970) the Australian governments removed part-Aboriginal children from their mothers, parents, families and communities, often by force. . Children were placed with institutions and from the 1950s began also being placed with white families. Aboriginal children were expected to become labourers or servants, Aboriginal girls in particular were sent to homes established by the Board to be trained in domestic service. These victims later came to know as the Stolen Generation. According to Dr Jane McKendrick Psychiatrist at the Melbourne University stated that ‘a large number of people from the Stolen Generations were either psychologically, physically or sexually abused while in
I guess I will not have to give you graphic pictures for your mind to comprehend just how evil your culture has been at times.

[DailyBail]

IT RISES EVERY YEAR - A Historical Look At Federal Government Spending

http://dailybail.com/home/it-rises-every-year-its-the-spending-stupid-a-historical-loo.html