Monday, January 21, 2013

The Congressional Budget Office Infographic (2011)

From the CBO (Congressional Budget Office) we have an interesting infographic for the 2011 budget. Go look at it.

Total Expenditures: $3.6 trillion
Total Revenues: $2.3 trillion
Difference: $1.3 trillion
Is it any wonder why we're having a continuous debt crisis now?

"Mandatory" spending is made up of four major categories: Social Security ($725 billion), Medicare ($480 billion), Medicaid ($275 billion), and "Other" ($545 billion, consisting of "unemployment, federal civilian and military retirement, veteran's benefits, earned income tax credit, food stamps, and other programs" - I interpret other programs as "pork").

"Discretionary" spending is made up of: Defense ($700 billion), and Non defense ($646 billion consisting of "health, income security, education, veteran's benefits, transportation, and other activities")

Net interest on debt already accumulated in 2011 equaled $227 billion.

Looking back only a few years, this current debt crisis could have been easily avoided - and forget about that "hindsight has 20/20 vision" BS. When your income only covers 2/3 of your spending, you're not going to be solvent for long.

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