Two graphs showing RW and PF13 are right: We running out of money
 

How much money is in the federal bank account? These two graphs, updated daily, tell the story. - By Chris Wilson - Slate Magazine

The two graphs are truly scary and can't be wished away. The Slate article opens with the following:Real World and Patsfan13 have agreed with this article's premise in the past.

Anyone who doesn't now is actively engaging in denial.

And, no, military spending cuts are not going to save the day.

Re: Two graphs showing RW and PF13 are right: We running out of money
 

Sounds like we might just have a revenue problem, too.

:singing::singing::singing:

Re: Two graphs showing RW and PF13 are right: We running out of money
 

If you try to extract too much revenue you hurt the economy and reduce the revenue the Treasury takes in . The best way to generate revenue is to grow the economy not strangle it with excessive regulation and government spending and excessive taxes on the revenue and job producers.

Re: Two graphs showing RW and PF13 are right: We running out of money
 

Revenues as % of GDP appear to be lower than the 18-20% range, suggesting that maybe we have gone too low.

I think we need to do both. You need to stop the bleeding and give the patient a couple of pints (of plasma, not Guiness).

Re: Two graphs showing RW and PF13 are right: We running out of money
 

Well the rates haven't been changed directly. What has happened is that incomes especially in the upper brackets have been reduced, so the decline of Revenue as a % of GDP is a direct reflection of that in the absence of changes in the tax rates. So addition taxes will drive the % even lower. That is the point.

Re: Two graphs showing RW and PF13 are right: We running out of money
 

We're taxed enough. What we need to do is take an axe to some of the needless subsidies corporations get, as well as eliminate alot of the deductions found throughout the tax base. Combine that with a simplified code, restructuring of free trade agreements, the elimination of a lot of foreign aide, a 20% slash in defense spending (do we really need to be all over the world like we are?), the deportation of red ink illegals, and an end to the government buying people a hoverround, and giving out free cell phones, and we'll be in better shape moving forward. It's really not that complicated imo.

Re: Two graphs showing RW and PF13 are right: We running out of money
 

I don't know why there are Army Bases in Europe.

Re: Two graphs showing RW and PF13 are right: We running out of money
 

At least why there are ones that we pay for alone.

Re: Two graphs showing RW and PF13 are right: We running out of money
 

Those Bush and Reagan tax cuts for the wealthy continue to haunt us to this day.

Re: Two graphs showing RW and PF13 are right: We running out of money