Tag Archives: Fiscal Imbalance

Understanding the long-term forecast for the federal budget

Watch this 2 minute video from Political Math.

Mandatory spending includes entitlements like social security, medicare and medicaid. It also includes payments on the national debt, which Obama intends to grow from about 12 trillion to about 19 trillion. The problem is that mandatory spending is set to skyrocket out of control in the next 8 years, and there isn’t any money available to pay for it.

Attacking businesses and productive individuals just reduces the amounts collected in income and sales taxes. In other words, taxing the rich just lowers government revenues by destroying economic growth. No one gets out of bed in the morning to earn 50% of what they are worth.

Public Debt Outlook
Public Debt Outlook

Click the images to enlarge them.

More charts:

Jobs Lost
Jobs Lost
National Debt
National Debt
Budget Deficit
Budget Deficit

More here.

In short, we’re doomed.

UPDATE: 1RedThread advises that I post the Doom Song.

I was JUST THINKING about 1RedThread a little earlier. I am NOT KIDDING.

This video is so going into the Friday Funny post.

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Obama’s spending spree in one simple chart

This one graphic tells the whole story. (H/T RedState and Ace of Spades)

Public Debt Outlook
Public Debt Outlook

Click the images to enlarge them.

More charts:

Jobs Lost
Jobs Lost
National Debt
National Debt
Budget Deficit
Budget Deficit

More here.

RELATED: The Heritage Foundation has more details on the spending catastrophes of the first 100 days. And he hasn’t even gotten started on card check, health care and cap and trade, yet!

UPDATE: Chad from Truthbomb Apologetics e-mails me regarding this essay by John Hawkins, (of Right Wing News), documenting the 20 most notable features of Obama’s first 100 days.

My favorite:

7) In the best example yet of Obama’s over-reliance on a teleprompter and the mainstream media’s fervent devotion to him, during an appearance with the Irish prime minister, there was a mix-up — and “President Obama thanked President Obama for inviting everyone over.” The same mainstream media which relentlessly mocked George Bush for his slip-ups wouldn’t even release the footage.

Read the whole thing! Early humor before this week’s Friday funny.