We all know about it, Have heard about it, and have experienced it? The National Deficit
A budget deficit occurs when an entity spends more money than it takes in.
The government has created and continues to grow a budget deficit simply because they continue to spend more than they take in. Unemployment is still at record levels, that means fewer tax payers which means less money pumping into “the man’s” pocket. So WE SHOULD spend less or appropriately down size in areas of the government. However, we engage in a seemingly endless war in multiple locations, and several government payout programs.
In 2009, we spent $10.2 trillion on national debt payment, $515.4 billion on the national defense, $189.3 billion fighting the “global” war on terrorism, $68.5 billion on health and human services, approximately $63 billion on transportation, $59 billion on education, $38 billion on housing and urban development, and $25 billion on the department of energy.
The national debt is at approximately $12.5 trillion and climbing. With just over 300 million US home makers, that breaks the debt out to YOU owing about $40,000. How does that make you feel? Do you care? Should we care at all? Is the national deficit just something that we will talk about or do we even care?
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Yes, we should care. However, until we can get our own government to cut out the dirty accounting, people will remain apathetic because even broaching the subject can be daunting.
Case in point: the current health car bill and how we can lower the deficit and increase the debt.
http://money.cnn.com/2010/03/12/news/economy/debt_health_care.fortune/index.htm
Our government needs to learn how to stop being so obtuse.
If earn less, then my budget goes down. If I earn less, then the Gov gets less from me. Why shouldn’t their budget go down?
I’m holding my response until Wenchypoo shows up and justifies outrageous spending. I’m too much of a retard to figure it out myself
That’s the same thing I would like to know. And with so many people unemployed, why do we still operate on the same budget we did 5 years ago.
It’s funny how we, excuse me, our government has a budget, but of course it chooses not follow it or purposely omits inserting things into the budget. I believe (I may be wrong) that the wars we are fighting in the -STANlands are not included in the budget.
How is this not in the budget when we know from year to year we are going be sending troops over there? Any company that runs business like this wouldn’t last a day.
Also, do we even make payments on the debt, or are we just trying to pay the interest? What an example to set for your people…
I thought Barry O already fixed this??
Please tell me you’re kidding
I think we should just start over. Just wipe the slate clean and start over. I mean, who are we in debt to? Who are we paying this money to????
I’m pretty sure if someone owed you 12 Trillion you’d want it all back.
We are in debt everyone, but mainly ourselves…http://www.brillig.com/debt_clock/faq.html
I don’t understand how you owe yourself money and want it back. (Take money out of the right hand and place it in the left hand????)
i dont understand how the us can be in dept if it makes its own money