Sooner5030
1/9/2011, 12:33 PM
http://www.gao.gov/financial/fy2010/10frusg.pdf
Financial Statement data starts on page 40 (PDF).
Good read for every citizen. The bottom line is that total revenue increased $18 billion or .8% from $2,198 to $2,216 billion while operating costs increased $862 billion or 25.1% from $3,434 to $4,296 billion.
The big 4:
DoD – Increased $207 billion or 30.4% from $682 to $889 billion. Gates might want to change that $100 billion savings plan over five years to $200 billion in one year.
DHHS – Increased $51 billion or 6.3% from $806 to $857 billion.
SSA – Increased $17 billion or 2.3% from $736 to $753 billion.
Treasury – Increased $137 billion or 58.3% from $235 to $372 billion.
Other notable changes:
Interest on Debt - Increased $25 billion or 13.2% from $189 to $214 billion.
Labor - Increased $39 billion or 27.9% from $140 to $179 billion.
Education - Increased $51 billion or 134.2% from $38 to $89 billion. WTF?
Revenue:
Individual Income Tax – Decreased $43 billion or 2.4% from $1,775 to $1,732 billion.
Corporate Tax – Increased $49 billion or 37.7% from $130 to $179 billion.
Analysis: we’re f’ed! You don’t have to have a degree in accountancy to figure out that we have structural problems and that we cannot simply stimulate/grow our way out of this and that cutting fraud alone will not work. Even combined these efforts will not close the almost $2 trillion annual gap between revenue and operating costs.
If I wouldn’t be put on some watch list I’d write my STATE congressmen and ask what SHTF plans they have to ensure basic services and order is maintained if everyone freaks out when the US defaults….or if food and energy hyper inflate when .gov prints its way outta this mess.
The mob is addicted to hopium and I don’t think that average person gets what will be required to fix this. GDP will have to contract dramatically if we do what is right and slash spending while increasing taxes.
Think about what will have to happen to get DoD under $500 billion per year. Troop levels will have to be cut which will add upward pressure to the unemployment problem. Gadgets will not be purchased that provide a lot of income to states and localities.
We also have to totally rethink entitlements. 42 million citizens on food stamps should not be a consistent month to month number. I’m sure WALMART loves the increased revenue on the 1st of each month. Those snappy EBT cards allow the leech society to hide their sponging from others and even themselves. Also, it is not possible that a person truly seeking employment cannot find a job eventually. MOVE to a different location or take a shiatty job just to get things going.
My only solution is to go into Bunker Defcon Level 2 and buy +20 acres in the most “property rights friendly”, homestead/pioneering area that has good ground water and rich soil. Too bad Mrs. 5030 is keeping me from doing this…..at least she let me buy some gold and silver and put in a safe though.
Financial Statement data starts on page 40 (PDF).
Good read for every citizen. The bottom line is that total revenue increased $18 billion or .8% from $2,198 to $2,216 billion while operating costs increased $862 billion or 25.1% from $3,434 to $4,296 billion.
The big 4:
DoD – Increased $207 billion or 30.4% from $682 to $889 billion. Gates might want to change that $100 billion savings plan over five years to $200 billion in one year.
DHHS – Increased $51 billion or 6.3% from $806 to $857 billion.
SSA – Increased $17 billion or 2.3% from $736 to $753 billion.
Treasury – Increased $137 billion or 58.3% from $235 to $372 billion.
Other notable changes:
Interest on Debt - Increased $25 billion or 13.2% from $189 to $214 billion.
Labor - Increased $39 billion or 27.9% from $140 to $179 billion.
Education - Increased $51 billion or 134.2% from $38 to $89 billion. WTF?
Revenue:
Individual Income Tax – Decreased $43 billion or 2.4% from $1,775 to $1,732 billion.
Corporate Tax – Increased $49 billion or 37.7% from $130 to $179 billion.
Analysis: we’re f’ed! You don’t have to have a degree in accountancy to figure out that we have structural problems and that we cannot simply stimulate/grow our way out of this and that cutting fraud alone will not work. Even combined these efforts will not close the almost $2 trillion annual gap between revenue and operating costs.
If I wouldn’t be put on some watch list I’d write my STATE congressmen and ask what SHTF plans they have to ensure basic services and order is maintained if everyone freaks out when the US defaults….or if food and energy hyper inflate when .gov prints its way outta this mess.
The mob is addicted to hopium and I don’t think that average person gets what will be required to fix this. GDP will have to contract dramatically if we do what is right and slash spending while increasing taxes.
Think about what will have to happen to get DoD under $500 billion per year. Troop levels will have to be cut which will add upward pressure to the unemployment problem. Gadgets will not be purchased that provide a lot of income to states and localities.
We also have to totally rethink entitlements. 42 million citizens on food stamps should not be a consistent month to month number. I’m sure WALMART loves the increased revenue on the 1st of each month. Those snappy EBT cards allow the leech society to hide their sponging from others and even themselves. Also, it is not possible that a person truly seeking employment cannot find a job eventually. MOVE to a different location or take a shiatty job just to get things going.
My only solution is to go into Bunker Defcon Level 2 and buy +20 acres in the most “property rights friendly”, homestead/pioneering area that has good ground water and rich soil. Too bad Mrs. 5030 is keeping me from doing this…..at least she let me buy some gold and silver and put in a safe though.