2015 Federal Budget in Pictures

The Heritage Foundation ^

[1rudeboy]

Federal spending and debt are out of control

If America does not change course, the future will be dramatically worse. Now more than ever, it is crucial that Americans understand what our nation's spending, taxes, and debt mean for them and their families. The Heritage Foundation's Federal Budget in Pictures offers a unique tool to learn about the federal budget in a clear and compelling way.

What if a Typical Family Spent and Borrowed Like the Federal Government?

If a median-income family spent and borrowed like the federal government does, it would spend $61,000 despite earning only $52,000. It would pile $9,000 on top of an already massive debt of more than $311,000—like having a mortgage, only without the house.

[other pictographs include]:

• Publicly Held Debt Set to Skyrocket
  
• All Tax Revenue Will Go Toward Health Care, Social Security, and Net Interest by 2031
  
• Social Security Deficits: Permanent and Growing
  
• Top 10 Percent of Earners Paid 68 Percent of Federal Income Taxes
  
• How Government Transfer Payments Affect Net Tax Rates
  
• U.S. Corporate Tax Rates Are the Highest in the Developed World
  
• Raising Tax Rates Does Not Necessarily Lead to Higher Tax Receipts
  
• Where Does All the Money Go?
  
• Federal Spending per Household Is on the Rise
  
• Entitlement Reform Is Necessary to Rein in Spending and Debt
  
• Total Social Security Benefit Payments Are Growing Rapidly
  
• Low- and Middle-Income Americans Get Hit with the Payroll Tax
  
• Obamacare Comes With a Barrage of Tax Hikes
  
• Congress Should Cut Spending Before It Considers Raising the Debt Limit

[demshateGod]

“Congress should do this. Congress should do that.” Since they won’t, invest in ammo.

[Tzimisce]

So?

We’ll just print more.

Now shut your racist face and go pay your taxes. Your hard working government is broke. :)

/sarc(????)

[concernedcitizen76]

No mention there of the Woolly Mammoth in the room, Unfunded Federal Obligations. According to prominent Boston University economics professor, Laurence Kotlikoff, unfunded obigations are $210 trillion. Those are CURRENT unfunded obligations, Kotlikoff stresses. Kotlikoff has been on top of this problem for decades. He shows that CBO methodology grossly understates the amount. (Anyone surprised?) CBO used to bury Kotlikoff's numbers in a footnote. They've even stopped doing that. Bitter almonds on that burnt toast, anyone? http://teapartyeconomist.com/2015/03/12/washingtons-210-trillion-deficit/

[sten]

math is the answer.

US annual revenues haven’t changed much... hovering around $2.5 t*
(a quick google shows the revenue jumped to $3.0t for 2014... my back of the napkin was off a tad)

Our national debt has increased $8 t, from $10t to $18+t in just 6 years.

that’s $1.3 t avg debt increase per year, putting the spending about $3.8 t on average (it’s been $4t+ the last two years). this is $1.5t above revenue, or about 1.6x revenue.

translating that into relatable numbers...

$83k is 1.6x above $52k which results in $31k increased debt annually.

if tax revenue is yearly gross, then $3.0t is $52k and $18t national debt would be equivalent to $362k personal debt.

please, in the future, do your own homework. especially for things that are this simple.

[Toddsterpatriot]

US annual revenues haven’t changed much... hovering around $2.5 t* (a quick google shows the revenue jumped to $3.0t for 2014... my back of the napkin was off a tad)

Your revenue number was off by $500 billion.

Your spending number was off by about $500 billion.

please, in the future, do your own homework. especially for things that are this simple.

Feel free to post the proof that the deficit was closer to your $1.5 trillion claim than the ~$484 billion deficit at the link I provided.

Then I'll apologize for pointing out your bad numbers.

[sten]

yes, i alreayd admitted my $2.5t was off ... as it just bumped last year to $3t due to the deflated dollar

of course, my point still stands... and my math is right where OPs math is WAY off.

OP stated fedgov spending was $61k a year, $9k over the total revenue of $52k, or 17% over revenue.

if this were true, annual spending would only be $3.5t (using the updated number) instead of the more accurate $4t

[Toddsterpatriot]

Your $1.5 trillion deficit claim was off by $1 trillion.

if this were true, annual spending would only be $3.5t

It was $3.5 trillion last year.

[Slambat]

“Ok, so the answer is none.”

So figuring things out for yourself doesn’t count. It has
to come from a “confident source” other than ones own
practical thought. Is that how you make all your decisions?

Is it time to mow the yard yet? I don’t know go find a
“confident source” and ask them. The grass is three feet
tall but we should still make sure.

[Toddsterpatriot]

So figuring things out for yourself doesn’t count.

Pulling numbers out of your butt doesn't count.

[Slambat]

“Pulling numbers out of your butt doesn’t count.”

How you do things yourself is of no concern to me
however devoid of critical thought it may be. The
point is you can’t say one way or the other whats
right or wrong anyway. You are way to dependent on
what other people tell you much less what counts and
doesn’t.

[Toddsterpatriot]

How you do things yourself is of no concern to me

That was sten.

The point is you can’t say one way or the other whats right or wrong anyway.

Yes I can

[1rudeboy]

If you are questioning Heritage's numbers, you should provide a source for yours so that the reason for the discrepancy can be established.

It's not a matter of "figuring things out for yourself." It's a matter the premier conservative think-tank in the world vs. some guy making numbers up on the internet.

[1rudeboy]

matter of

[Huskerfan44]

I heard that was the standard Federal government way.

[Zeppelin]

sten got owned.

Toddster, I too did my own homework and am aligned with your numbers. Good work.

[ripley]

No matter what anyone says, no matter what facts are presented, no matter how much reality shows itself, they will still vote for irresponsible, revolutionary Progressives because it’s the “intellectual, brilliant, scientific, compassionate” thing to do, as they consider the Constitution to be an impediment to human progress.

(It’s sick and getting sicker out there.)

IMHO

[Pan_Yan]

My teenage son pointed out the other day that the difference between poor and middle class in our country is not the standard of living; it’s who pays for it.

[OldNavyVet]

We’ll probably be seeing $1,000 and $10,000 US Dollar bills floating around soon.

[OldNavyVet]

Your son has wisdom ... that shows.

[Toddsterpatriot]

$10,000 bill? Sounds fishy.