us.gov annual report

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D5CAV
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Joined: Tue Aug 19, 2008 2:48 am

us.gov annual report

Post by D5CAV »

Your tax dollars at work: https://fiscal.treasury.gov/files/repor ... Final).pdf

In case you don't want to read, here are the highlights:

1. We have a big math problem, about $1.1 trillion of problem.
$3.4 trillion of revenue
$4.5 trillion of expenses

2. You are the solution, not China and not corporations.
taxpayers funded 83% of that $3.4 trillion of revenue
Total other revenue (including all tariffs) was 11%
Corporate taxes was 6%

3. Most of your tax dollars go out the door even if us.gov is permanently shut down.
Non-discretionary means that it is signed into law, so those checks go out whether us.gov is closed or not.
Those checks include HHS, medicare, medicaid and social security
Interest payments on treasury debt is not legislated, but failure to pay would be default, so those checks go out as well.
Over half of that $4.5 trillion goes out the door, even if every us.gov agency, including DOD, is shut down to zero

4. We have an even bigger balance sheet math problem - like over $20 trillion.
Assets are $3.8 trillion, including about $1.4 trillion in student loans (oh yeah, those are the loans AOC wants to "forgive")
Liabilities are $25.4 trillion

5. Unfunded liabilities add another $50 trillion of problem
Looking at the balance between expected revenue and expected payouts over the next 75 years, based on typically optimistic us.gov scenarios, the net unfunded liability is another $53 trillion
Total liabilities (if us.gov had to account for pensions as corporations do) is about $75 trillion

Solutions?
1. More taxes (see No. 1: you are the solution; by the way, if your income is above us.gov poverty line, you are part of "taxing the rich". Congratulations! you are now rich!; own a house? Wealth tax!)
2. Default on some debts and liabilities ("needs tested" social security, etc., "age tested" obama-care, etc. - what? you thought us.gov would default on debts held by Chinese banks? ha-ha!)
3. Inflate currency (print more money - MMT)
4. All of the above (most likely)

"Democracy is the system of government that says the people deserve to get the government they want - and deserve to get it good and hard." Mencken
None are more hopelessly enslaved than those who falsely believe they are free.” Johann Wolfgang von Goethe
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Jered
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Joined: Wed Aug 20, 2008 1:30 am

Re: us.gov annual report

Post by Jered »

Keep stockpiling essentials...
The avalanche has already started. It is too late for the pebbles to vote.
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g-man
Posts: 1430
Joined: Tue Aug 19, 2008 4:40 pm

Re: us.gov annual report

Post by g-man »

D5CAV wrote: Tue Apr 09, 2019 1:34 am Your tax dollars at work: https://fiscal.treasury.gov/files/repor ... Final).pdf

In case you don't want to read, here are the highlights:

1. We have a big math problem, about $1.1 trillion of problem.
$3.4 trillion of revenue
$4.5 trillion of expenses
Yeah, that's a big problem. Obviously Congress can't math.
D5CAV wrote: Tue Apr 09, 2019 1:34 am 2. You are the solution, not China and not corporations.
taxpayers funded 83% of that $3.4 trillion of revenue
Total other revenue (including all tariffs) was 11%
Corporate taxes was 6%
We pay corporate taxes through the increase in cost of goods and services, however we have discretion on whether or not to make those purchases, so at least shifting taxes to the corporate base gives us options.
D5CAV wrote: Tue Apr 09, 2019 1:34 am 3. Most of your tax dollars go out the door even if us.gov is permanently shut down.
Non-discretionary means that it is signed into law, so those checks go out whether us.gov is closed or not.
Those checks include HHS, medicare, medicaid and social security
Interest payments on treasury debt is not legislated, but failure to pay would be default, so those checks go out as well.
Over half of that $4.5 trillion goes out the door, even if every us.gov agency, including DOD, is shut down to zero
While non-discretionary does go out the door whether or not the .gov doors are closed, Congress DOES have the discretion to cancel ALL of that nonsense, so their calling it non-discretionary is obfuscation, spin, and flat lying.
D5CAV wrote: Tue Apr 09, 2019 1:34 am 4. We have an even bigger balance sheet math problem - like over $20 trillion.
Assets are $3.8 trillion, including about $1.4 trillion in student loans (oh yeah, those are the loans AOC wants to "forgive")
Liabilities are $25.4 trillion
Debt sucks. National debt sucks a LOT.
D5CAV wrote: Tue Apr 09, 2019 1:34 am 5. Unfunded liabilities add another $50 trillion of problem
Looking at the balance between expected revenue and expected payouts over the next 75 years, based on typically optimistic us.gov scenarios, the net unfunded liability is another $53 trillion
Total liabilities (if us.gov had to account for pensions as corporations do) is about $75 trillion
This entire 'liability' goes the hell away the instant we pass (read: Article V convention) a balanced budget amendment, because they're not allowed to overspend every year. For. Damn. Ever.
D5CAV wrote: Tue Apr 09, 2019 1:34 am Solutions?
1. More taxes (see No. 1: you are the solution; by the way, if your income is above us.gov poverty line, you are part of "taxing the rich". Congratulations! you are now rich!; own a house? Wealth tax!)
2. Default on some debts and liabilities ("needs tested" social security, etc., "age tested" obama-care, etc. - what? you thought us.gov would default on debts held by Chinese banks? ha-ha!)
3. Inflate currency (print more money - MMT)
4. All of the above (most likely)

"Democracy is the system of government that says the people deserve to get the government they want - and deserve to get it good and hard." Mencken
Yeah, their 'solutions' are not. But you're probably right, it will likely be #4, and some other retarded scheme we haven't even heard of yet.

Also, what Jered said...
Igitur qui desiderat pacem, praeparet bellum
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