PDA

View Full Version : A rather startling different way of looking at government spending



Mainecoons
04-11-2013, 10:53 AM
http://www.sumnerbooks.com/books/view/completely-predictable

Came across this by accident. Looks like a valid computation to me.


As reported in my new book, “Completely Predictable,” the combined spending of federal, state and local governments actually exceeded the median household income for 2010, which is the latest year for which all relevant government data are available.In fiscal 2010, according to numbers published by the Census Bureau and the Office of Management and Budget (OMB), net spending by all levels of government in the United States was $5,942,988,401,000. That equaled $50,074 for each one of the 118,682,000 households in the country.
In that same year, according to the Census Bureau, the median household income was $49,445

If he's even close, it is just another confirmation that what we have here is not a revenue problem it is a runaway government spending problem.

And he correctly lays the blame at the feet of not only the current administration but the last one too.

Peter1469
04-11-2013, 10:55 AM
Clearly. We could not possibly raise taxes to cover the ~$1.3T delta between revenue and spending.

Agravan
04-11-2013, 11:01 AM
Clearly. We could not possibly raise taxes to cover the ~$1.3T delta between revenue and spending.

But, but, the Rich....

Chris
04-11-2013, 11:03 AM
That equaled $50,074 for each one of the 118,682,000 households in the country.

Sorry, but I just can't afford this!


Thanks for posting, I was looking for this the other day.

Chris
04-11-2013, 11:04 AM
Actually this varies by age. I actually owe $110,222.

Calculate yours here: http://www.budget.senate.gov/republican/public/index.cfm/national-debt

Greenridgeman
04-11-2013, 11:09 AM
http://www.sumnerbooks.com/books/view/completely-predictable

Came across this by accident. Looks like a valid computation to me.


Blame where blame is due, American Idol Nation elected these idiots.





If he's even close, it is just another confirmation that what we have here is not a revenue problem it is a runaway government spending problem.

And he correctly lays the blame at the feet of not only the current administration but the last one too.

truthmatters
04-11-2013, 11:18 AM
see this is why you dont ask just the medium income people to pay the bills

truthmatters
04-11-2013, 11:19 AM
what slaves to the wealthy you people are

patrickt
04-11-2013, 11:50 AM
see this is why you dont ask just the medium income people to pay the bills

And why you don't ask the Democrats, who aren't paying income tax, to reduce spending.

Peter1469
04-11-2013, 11:59 AM
If we taxed the wealthy at 100% that money would fund the current budget for 8 months. What will you statists do for money after that?

KC
04-11-2013, 12:38 PM
Actually this varies by age. I actually owe $110,222.

Calculate yours here: http://www.budget.senate.gov/republican/public/index.cfm/national-debt


Holy shit. I owe $740,275.

I better get back to work!

nic34
04-11-2013, 12:38 PM
If you pay for everything you own and have 0 debt, then you are either really really rich or you have some really really crappy old house and cars....:laugh:

Chris
04-11-2013, 12:45 PM
Holy shit. I owe $740,275.

I better get back to work!

It pays to be old. :-P

Peter1469
04-11-2013, 02:33 PM
If you pay for everything you own and have 0 debt, then you are either really really rich or you have some really really crappy old house and cars....:laugh:

Really? Why is that? I do have a mortgage, but that is about 20% of my paycheck.