Friday, March 4, 2011
Current Pace Of Annual Budget Deficit Reduction Doubles National Debt In 17 Years
The pace of balancing federal spending is far too slow. Rational citizens understand this issue. If our electors continue on the course of cutting $2 Billion per week, $104 Billion per year, here is what that will look like...
I started with Obama's 2011 budget deficit of $1.7 trillion increase to the overall national debt. Assuming a spending freeze at the 2011 levels, with $2 Billion a week in cuts, it will take 17 years before a balanced budget is attained, however at the same time the overall national debt will have added another $13 trillion to the debt total because of the too slow pace of spending cuts; The national debt in 2028 would be $27.5 trillion.
The 2010 election was a mandate to reverse the direction of government spending, not double up the problem.
Steve
1700 104 1596 1596
1596 104 1492 3088
1492 104 1388 4476
1388 104 1284 5760
1284 104 1180 6940
1180 104 1076 8016
1076 104 972 8988
972 104 868 9856
868 104 764 10620
764 104 660 11280
660 104 556 11836
556 104 452 12288
452 104 348 12636
348 104 244 12880
244 104 144 13024
144 104 40 13064
40 40 0
I started with Obama's 2011 budget deficit of $1.7 trillion increase to the overall national debt. Assuming a spending freeze at the 2011 levels, with $2 Billion a week in cuts, it will take 17 years before a balanced budget is attained, however at the same time the overall national debt will have added another $13 trillion to the debt total because of the too slow pace of spending cuts; The national debt in 2028 would be $27.5 trillion.
The 2010 election was a mandate to reverse the direction of government spending, not double up the problem.
Steve
1700 104 1596 1596
1596 104 1492 3088
1492 104 1388 4476
1388 104 1284 5760
1284 104 1180 6940
1180 104 1076 8016
1076 104 972 8988
972 104 868 9856
868 104 764 10620
764 104 660 11280
660 104 556 11836
556 104 452 12288
452 104 348 12636
348 104 244 12880
244 104 144 13024
144 104 40 13064
40 40 0
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An election for President and Commander in Chief of the Military must strive to be above reproach. Our public institutions must give the public confidence that a presidential candidate has complied with the election process that is prescribed by our Constitution and laws. It is only after a presidential candidate satisfies the rules of such a process that he/she can expect members of the public, regardless of their party affiliations, to give him/her the respect that the Office of President so much deserves.
Yep, the budget must be fixed -- and soon. It's going to take both tax increases and spending cuts to make any kind of progress. We should really go back to the 2000 budget surplus spending and taxation levels, but I'm not sure if that's even possible given all the entitlement programs that are growing out of control.
ReplyDeleteGovernment pensions are significant even though everyone focuses on SS and Health care.