Moral Outrage
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Posts Tagged ‘federal budget deficit

The Super Committee failure reflects our own super failure

November 22, 2011

Leaders of the congressional supercommittee charged with trimming the federal budget deficit by at least $1.2 trillion have announced that the panel could not reach an agreement. As a result, across-the-board spending cuts—largely in Medicare and defense—are slated to go into effect in 2013. So the “super committee” failed. Can you honestly say you were […]

And we wonder why US credit was downgraded

September 27, 2011

The numbers leading S&P to downgrade U.S. Credit: • U.S. Tax revenue:___$2,170,000,000,000 • Federal budget:_____$3,820,000,000,000 • New debt:_________$1,650,000,000,000 • National debt:_____$14,271,000,000,000 • Recent budget cut:____$38,500,000,000 Let’s remove 8 zeros and pretend this is a household budget: • Annual family income:____________________$21,700 • Money the family spent:___________________$38,200 • New debt on the credit card:_______________$16,500 • Outstanding balance […]

What the Military Budget has to do with the US Federal Budget Deficit and Debt Ceiling

July 24, 2011

The bond rating agencies that gave junk derivatives triple-A ratings threatened to downgrade US Treasury bonds if the White House and Congress do not reach a deficit reduction deal and debt ceiling increase. Meanwhile, the total military/security budget is in the vicinity of $1.1-$1.2 trillion, or 70% -75% of the federal budget deficit. [Yet another […]

Balancing the US Budget Deficit in 3 Easy Steps

July 18, 2011

No one in Washington can agree on how to narrow the budget deficit. With only partial seriousness, I’m going to balance next year’s $1.1 trillion budget deficit in three easy steps. Step one: Return real (inflation-adjusted) defense spending to average 1990s levels Current projections show that $738 billion will go toward defense spending in 2012. […]

The Tragic State of the United States: “It’s like we are living in a Third World country”

November 23, 2009

The following is an edited excerpt from the Amped Status report, “The Critical Unraveling of U.S. Society.” 1. The gap between the top 1 percent and the remaining 99 percent of the U.S. population has grown to a record high. 2. The three big banks that took taxpayer money and benefited the most from the […]