Spending Addiction Disorder (SAD) Rampant in Democratic and Republican Parties–The Collapse of The American Dream–Videos
|The bar chart comes directly from the Monthly Treasury Statement published by the U. S. Treasury Department. <<< Click on the chart for more info.
The “Debt Total” bar chart is generated from the Treasury Department’s “Debt Report” found on the Treasury Direct web site. It has links to search the debt for any given date range, and access to debt interest information. It is a direct source to government provided budget information.
|— “Deficit” vs. “Debt”—Suppose you spend more money this month than your income. This situation is called a “budget deficit”. So you borrow (ie; use your credit card). The amount you borrowed (and now owe) is called your debt. You have to pay interest on your debt. If next month you spend more than your income, another deficit, you must borrow some more, and you’ll still have to pay the interest on your debt (now larger). If you have a deficit every month, you keep borrowing and your debt grows. Soon the interest payment on your loan is bigger than any other item in your budget. Eventually, all you can do is pay the interest payment, and you don’t have any money left over for anything else. This situation is known as bankruptcy.
Each year since 1969, Congress has spent more money than its income. The Treasury Department has to borrow money to meet Congress’s appropriations. Here is a direct link to the Congressional Budget Office web site’s deficit analysis. We have to pay interest* on that huge, growing debt; and it cuts into our budget big time.
The table below summarizes the failed 10 year record of both political parties in controlling government spending that have produced massive fiscal-year deficits and an ever increasing national debt.
|Summary of Tax Receipts and Spending Outlays of the United States Government for Fiscal Years 2002-2012[in million of dollars]|
|Fiscal Year||Tax Receipts||Spending Outlays||Deficits (+) or Surplus (-)|
|Source: Department of the Treasury, Final Monthly Treasury Statements of Receipts and Outlays of the United States Government for Fiscal Years 2002-2012, table 1.|
Congress Sells America Down the River to Avoid the Fiscal Cliff
Funding Government by the Minute
The Fiscal Cliff – Federal Spending Per Capita from 1900-2012.
Government Debt and You
Brother, Can You Spare A Trillion?: Government Gone Wild!
Got a Government Jones? The 12 Steps for Overcoming Addiction to Government
HOW The PHONY FIAT FEDERAL RESERVE Bankster SYSTEM “MONEY” Is CREATED
FIAT EMPIRE: Why the Federal Reserve Violates the U.S. Constitution
Milton Friedman on the Federal Reserve and the Great Depression
Hyperinflation: The Fall of the American Dollar
The Dollar Collapse Revisited and a Bull Market in US Treasuries w/Peter Schiff!
Federal Reserve Balance Sheet Illustrated
The Collapse of The American Dream Explained in Animation