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« Iraq War Ends With A $4 Trillion IOU | Main | THE NFL: A Lip Reading Comedy »
Saturday
Feb022013

WAKE UP AMERICA! - The Real U.S. Budget Problem: Defense & War Spending Equal 94% Of All Federal Income Tax Revenues

From Reddit:

I thought this kind of puts things in perspective.  In 2010, the US government collected $898 billion in federal income tax revenues.  The same year, we spent $847 billion on useless wars and national defense.  That means that 94% of all federal income tax revenue is equivalent to what we spend on the Pentagon.  Who out there thinks it was money well spent?

Also, just to piss you off a little bit more - defense spending is equivalent to 443% of what we collect in total corporate taxes.

---

Hidden cost of war in Afghanistan:

Short video on the unseen and often uncalculated costs of war. 

 

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Reader Comments (30)

Little accountability in America’s privatized war

http://rt.com/news/america-war-contractors-scandal/
Jul 27, 2011 at 12:21 PM | Registered CommenterDailyBail
A former Colorado Springs police officer facing allegations of abusing children is now accused of sexually assaulting 22 victims — up from six.

http://www.gazette.com/articles/springs-122067-former-victims.html#ixzz1TK7HvL6U
Jul 27, 2011 at 12:23 PM | Registered CommenterDailyBail
Exclusive: SEC builds new tips machine to catch the next Madoff

http://www.reuters.com/article/2011/07/27/us-sec-investigations-idUSTRE76Q2NY20110727

Are these guys fucking serious?
Jul 27, 2011 at 4:49 PM | Unregistered Commenterjohn
Jul 27, 2011 at 5:15 PM | Unregistered Commenterjohn
Jul 27, 2011 at 7:40 PM | Unregistered CommenterTR
Why does NO ONE tell that of the 14 trillion dollar debt- almost TWELVE trillion is owed to the FED RESERVE! This is one 'debt' that should be repudiated fully and FED disbanded. After how much in bailouts WE owe THEM?? People for Gods sake wake up and open your eyes, not your wallets.

Calling all US citizens: COMPLETE MORATORIUM ON CREDIT CARD DEBT REPAYAMENT until justice is impelemted.
Jul 28, 2011 at 1:44 AM | Unregistered CommenterCivic duty
The solution to USA/Feds heep of economic shitt is mindboggling simple, end the fed and just eraze the dept.
Thats it.
Hell you own our own deopt, so cutt it a way, the dept is a ilusion, its just digital numbers.
Do it and cut military spendings, USA use more chash on wars and arms than the hole world combined, and they are afaid of what, and from who?.
There is nobody out there, its just a scam.
Jul 28, 2011 at 3:07 AM | Unregistered Commentermikael
The other component is that US taxes are lowest in 60 years. Never hear that said much, either.

Someone above says:

---
Why does NO ONE tell that of the 14 trillion dollar debt- almost TWELVE trillion is owed to the FED RESERVE!
-----------------

If it is "owed" to the FED reserve then it is owed to the government - the FED rebates its surplus to the Government.

So......it isn't really a big deal at all. Though that won't suit your perspective, I am sure.
Jul 28, 2011 at 6:27 PM | Unregistered CommenterTLNL
In spite of the clever name, the Federal Reserve is not part of the federal government. They are a private, for-profit banking cartel which managed to steal the money creation franchise from the American people nearly 100 years ago (rot in hell Wilson, you scumbag) and it has been off to the races ever since. The dollar has lost 98% of its purchasing power to date. Re military spending, refer to former defense secretary Donald Rumsfeld's mea culpa in 2001 that the Pentagon "could not account for 2.3 trillion". As in dollars. As in 8 times their yearly budget back then. You didn't hear about it because Donny chose September 10, 2001 as the day to come clean.

Most of the budget numbers bandied about in the press are meaningless-- it's much, much worse than reported. The Fed had their first audit in a century this summer, done by their golfing buddies in the General Accounting Office. The GAO still managed to discover $16 trillion handed to the banks over the last few years. There was another $27 trillion they somehow missed which went to Wall Street to prop up the DOW. Expect things to roll merrily from bad to worse until the greenback is only good for lighting fires and wiping butts.
Jul 28, 2011 at 6:51 PM | Unregistered Commenterh5mind
Please keep in mind that deep down, Geithner and Bernanke, and friends work for an entity hostile to the American people, as they always have been. I would never consider developing a crack habit and subjecting my friends or boss to my self-indulgent stupidity. It is only logical to conclude that Geithner and Bernanke feel the same about their self-indulgences. That is why they repeatedly chant Ooops! Ooops! Ooops! Ooops! as they FAIL to come up with remedies or plans that amount to anything.

Ford just bailed and is constructing three plants in China. So much for old man Ford and his loyal workers. Ford MoCo died with Ford, jr. Now the factory is leaving.
We need a Constitutional public bank, and quick. Innovation and hope are at a serious low and it better change before the hunger kicks in. And lets elect a president that doesn't get a woody every time they see an American soldier.
Jul 28, 2011 at 7:01 PM | Unregistered CommenterHoward T. Lewis III
In spite of the clever name, the Federal Reserve is not part of the federal government.

----------------

Then how come it is mandated by Congress and returns its profits to the government every year?

It's autonomous - by design - to prevent politicians using money supply and interest rates as political tools - to ensure a "well-run economy' in the interests of all classes.

Arguably it fails to do that, but don't pretend having Obama or Congress directly controlling the FED and interest rates etc is without problems. You might find some serious opposition to running American central bank like the Chinese run theirs.

It's always surprising to see how Americans treat the boogey-man of the "privately-run" FED........even RonPaul attacks it using the "PRIVATELY RUN" barb. Usually RonPaul and fellow conservatives are dead-keen on PRIVATE PROPERTY. They see it as some bulwark against corruption, a guarantor of "liberty". And yet where the FED is concerned its (semi) pivate nature is seen as a serious problem (explaining greed, corruption, and all the other ills the FED is supposed responsible for).

That's what the commenter above was referring to, by mentioning its private nature. Why is that a problem to Americans? Hey, nationalise it, and make it an arm of cabinet! See if you fancy that?

Another question arises from attacking the "private" ownership of the FED: if these supposed private interests can't run a bank properly, why would you (like RonPaul) insist they can run healthcare, education, and everything else?

Bizarre.
Jul 28, 2011 at 7:12 PM | Unregistered CommenterTLNL
Ford just bailed and is constructing three plants in China.
--------------

BECAUSE IT IS CHEAPER.

People need wake-up to this simple fact. And stop tilting at windmills. This is how capitalism works. American workers learnt to love capitalism, it seems. But that was on the uptick. The downtick comes next - whereby American wages face downward pressure from overseas......China, India, etc.

Until American wages fall, or Chinese and Indian levels rise to some sort of equilibrium, there's nothing anyone can do to stop the process* We know the rules of the game - you liked them when they seemed to work for you.

*I posit that all the spending on the military is a break on the process......the loss of American (economic) eminence. If that's true and effective, then cutting military budget would work to accelerate the relative decline.
Jul 28, 2011 at 7:24 PM | Unregistered CommenterTLNL
@Civic Duty...

Your facts are wrong. We do not owe the Fed $12 trillion. Not even close. Read this:

http://www.businessinsider.com/who-owns-us-debt-2011-7
Jul 28, 2011 at 10:02 PM | Registered CommenterDailyBail
@ DB: AAA rating

Some on this list are those NASTY SOCIALIST?

http://money.cnn.com/2011/07/29/news/international/countries_with_aaa_rating/index.htm
Jul 31, 2011 at 1:31 PM | Unregistered CommenterTR
Military may take up almost all Federal revenue. But total Federal revenue would cover about 4 months of entitlements... that's the real problem. And taxe rates are not at their lowest in 60 years. Tax receipts are at their lowest, perhaps. because no one has a job. Since 2008, my income has gone from $103K to $12K. Guess what? I pay less income tax.
Jul 31, 2011 at 5:12 PM | Unregistered CommenterJohn S
Gotta love these articles.....other - 612 billion. That's definitive. Thanks. And by the way, you can bail me out as well since I paid into the system for many decades and I would like either my money back (at 3% annual interest) or loan me that same amount at zero interest. If you can't do that, then file bankruptcy and stop the freaking wars. We are the beneficiaries of the "system" because without us there is not funding for the system, let alone support for the system.

Huh? "But total Federal revenue would cover about 4 months of entitlements... that's the real problem."

No...the real problem is where the 2.3 supposed trillion in the Medicare/SS Trust Fund has gone. Are we assuming that its gone? Has anyone answered that question? Maybe its there and they want to spend that to. Who knows? Certainly not us because we are not privy even though it is our money.

Amazing that no GIVES A SHIT about that question!! The response from most is.....whine whine....we can't afford the entitlements now, but heck, war in 5 other countries is fine, and let's continue to send out 10s of billions in foreign aid, and while we're at it, let's give Israel some more fighters and patriot missiles. God knows....Israel is so loved they must need these weapons for their museums.

What about the over 8 trillion dollars missing from pentagon? Just fuzzy math? Is there any accountability for anything?

Its a fucking joke. Even the conversations regarding the subject is a joke. No one is on cue. Every one continues to feed the monster. Nothing changes for the better. I'll say it again, its a fucking joke. And exactly why its fruitless to even hold a conversation on this subject or any other. Because people are all talk and no action. The monster gets fed regardless of the blatant criminality that is exposed.

BTW TNLN - take a look at the valuation of the dollar since 1913 and tell us all how harmless the Fed Reserve is. Do you really believe the Federal Reserve is an independent entity from all other central banks? The world bank? The BIS?
Aug 14, 2011 at 10:04 PM | Unregistered Commenterdogismyth
Aug 15, 2011 at 11:32 AM | Unregistered CommenterThe Other Side Of The Story
I've been telling people for years that the American people are STUPID. Thank you for confirming that.
Aug 16, 2011 at 1:27 AM | Unregistered Commenterdavr
I just saw Ron Paul's contributor report.
Most of his money comes from military sources.
Look it up.
Go figure.
Jan 17, 2012 at 12:16 PM | Unregistered Commenterprofnasty
You are right profnasty.
Jan 17, 2012 at 12:28 PM | Registered CommenterDailyBail
MADONNA WORSHIPS SATAN VIDEO…PARTS FROM THE OCCULT SUPER BOWL IN INDPLS, IN…2012
GO:
http://www.youtube.com/watch?v=hHKW3ZC33lM
Feb 7, 2012 at 7:56 PM | Unregistered Commenterrthorne
INTEREST on our debt is the greatest expense

Payments on Interest to Exceed Defense Spending by $125 Billion
11:49 AM, OCT 23, 2012

http://www.weeklystandard.com/blogs/payments-interest-exceed-defense-spending-125-billion_657230.html

Followed by defense because frankly this is misleading when they talk about entitlements they include Social Security which is a self funded program and doesn't add a penny to the debt

http://www.heritage.org/research/reports/2012/10/federal-spending-by-the-numbers-2012

but if you think that's bad just wait

CBO: Federal Healthcare Spending To Surpass All Discretionary Spending By 2016

http://cnsnews.com/news/article/cbo-federal-healthcare-spending-surpass-all-discretionary-spending-2016
Dec 5, 2012 at 4:50 PM | Unregistered CommenterLadyLiberty
With the recent revelation here at DB site from Ms. Fitts, this would seem to make sense in that the black ops money hole that we have paid for at least since the 1980's. This just opens a whole pandoras box of questions of which we will never know the answers to until, I fear, it is too late.
Dec 5, 2012 at 8:38 PM | Unregistered CommenterSKINFLINT
The French automotive industry is imploding. This after The Bernanke sneaked a $400 million loan to Peugeot @near 0% interest. Do you think we will get the money back? No. But the bank will take your house. 20 million homes sit unoccupied in the US.
Dec 6, 2012 at 12:54 AM | Unregistered CommenterHoward T. Lewis III
Read this chart closly, specaly sosialwelfare "expences" and the goverment income from the same "expences" do you see this, its almoust att a selfsustaiable level, and what extra cost driven into this "sosiale" system is Privatly indused, by rising costs and intress/tax whatever. When a goverment rises taxes YOU scream, when a Corp. does the same YOU scream about "comunism" when we try to regulate this, copared to the dogmas on State sponcored sec systems.

The costs of sosial sec systems are a long term invetment, in helath and schools, better inner clima and you/USA caan save millions of children from simply been Ill by the crumbling inrfastucture, this children may be crippeled before the are mature, the number of respiratory trubles are staggering.
And You are afraid of "terror", when this mass slaughter of right infron of your eyes.

Sosial sec systems can be made to fonds and state runn banking systems can have just the margun needed for a continous invetmenst into infrastucture, the bvery thing that our Intress and Taxes was originaly intended for, to the bennefitt of us ALL.
Not just for Some.

In this system, like scnadinavia/finnland is more humane, and its selfsustaiability is not highlighted, and largly uverlooked, intentionaly or by consensus, but I belive its intetionaly.
Wars never pay, its the Broken Window falasy on steroids and on topp of it, we subsidice the build up of the same war, money goes to the same intetys that is behind the bombs as to the boots on the ground, all payed By You, thats "welfare" that will eventualy ruin the USA.

Im am not saying tomorrow, not even next month, but when the Syrian war starts, be prepared for shocking inflations, and controll of virtualy everything, by the Lord of peace and Drones, the evershining and everlasting ObamaLama.

Yehaa

You are fu.... , because your goverment chouse the Zimbawian way.

peace
Dec 6, 2012 at 3:20 AM | Unregistered Commentermikael
Where in the world do you get your numbers? They are incorrect. Defense spending in 2010 was $689B NOT $895B. (www.cbc.gov/historical budget data). That is only 53% of eligible revenue (total revenue less social insurance taxes), NOT 94%. Whether this is excessive, or alarming, or warranted is certainly debatable. But fictitious data to derive grossly exaggerated ratios are not acceptable and damage your credibility tremendously with well-informed readers. However, perhaps it is not the well-informed that you aim to influence.
Jan 9, 2013 at 7:16 PM | Unregistered CommenterMcCatherine
McCatherine

Since you are a shill for the military industrial complex, and since you also can't read, presumably. What else should I think when the numbers are linked in the story, and then you ask where did we get our numbers.

http://www.usgovernmentspending.com/spend.php?span=usgs302&year=2010&view=1&expand=30&expandC=&units=b&fy=fy12&local=s&state=US&pie=#usgs30250

http://www.washingtonpost.com/wp-srv/special/politics/budget-2010/
Jan 9, 2013 at 11:49 PM | Registered CommenterDailyBail
Watched JFK this weekend. Interesting quote from "X" played by Donald Suherland:

"The organizing principle of any society, Mr. Garrison, is for war. The authority of the state over its people resides in its war powers."

Oh so right...
Feb 3, 2013 at 11:42 AM | Unregistered CommenterJosie
GEORGE BUSHIT'S HOMELAND SECURITY--COSTS??? Odd that is missing from the graph or how about the military aid to those nice pals of ours--namely Israel. Get this---whole downing of America's economy is done on purpose. Just as it was prior to WWI and WWII.
When young folks of military age have no future--the army is the place to get a hotmeal and a bullet in the stomach. Time to demand term limits for all politicians 8 years max and 4 years for president. Consider Lieberman or John Kerry or McCain and a host of other evil people running your lives. wake-up fools--just having guns ain't going to change things--cause most Americans are too FKN stupid--when the need arises.
Feb 3, 2013 at 5:24 PM | Unregistered Commenterjojo
ya know this is just sad and makes more people angry than not,more taxes on people who can barely afford rent on social security han on corporations....oh yeah your taxes areREALLY in teh right spot x.x especially since corporations CAN AFFORD IT THE OTHERS CANNOT
Feb 3, 2013 at 5:27 PM | Unregistered CommenterJake MacLeod

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