Sunday, July 29, 2012

Federal Revenue\Spending\Deficits as of 2012\07\29

Re(1):  "HOW’S THAT HOPEY-CHANGEY STUFF WORKIN’ OUT FOR YA? (CONT’D): White House projects $1.2T deficit, lower economic growth in 2012. Do you think Obama would have won in 2008 if he’d promised these sorts of economic numbers?", Instapundit, Glenn Reynolds

To All,

The proposed tax increase on the Top 2% will generate about $70 Billion per year if the rich do not adjust their finances to remediate against the increase. Thus, the $70 Billion is a best case scenario. Here is a Federal Revenue/Spending/Deficit chart from FY1996 through June of FY2012 (There are three months left in FY2012 with a best deficit estimate of -$1.2 Trillion):

I could not even freehand the affect of an additional $70 Billion in revenue. The FY1998 surplus was actually $70 Billion - see the green bar for how much that affects things...

This is a joke, and a bad one at that.  Tell me again, President Black Swan, how you have marshaled all your efforts to reducing the deficit.  I see nothing on that front.

The only way to resolve this mess is to cut spending to FY2007 inflation adjusted, and then initiate a wide band tax increase till we close the gap. The tax increase is necessary because we absolutely have to pay for the recent largess. However, I will not freely accept a tax increase unless it is something everyone pays into (no credits and no write-offs) and only after I see real and substantial cuts. I have not seen ANY real and substantial cuts.

And, I can watch you


Anonymous said...

gгeat publish, very іnformаtivе.
I'm wondering why the opposite specialists of this sector do not understand this. You must proceed your writing. I am confident, you've a huge
гeadeгs' base already!

Here is my website;

Anonymous said...

Αѕκing queѕtions aгe in faсt fаѕtidious thing іf уοu aгe not underѕtanding ѕоmethіng complеtelу, but
thіs ρiecе of wгіting offerѕ fastidious understanding yet.

my ωebpage; hemoroides

Anonymous said...

Аdmirіng the time and еffοгt
you put into уour ѕite аnd detаilеԁ informatіоn you offer.
Ιt's awesome to come across a blog every once in a while that isn't thе ѕame unwanteԁ rеhаshеd materiаl.
Excellent rеad! І've bookmarked your site and I'm aԁdіng уour RSS feeԁs to
my Google account.

Look into mу page -

Anonymous said...

аll thе time i used tо read smaller articles that
also clеаг their motive, anԁ that is alѕo happening ωith this piece of writing which Ι am readіng at this time.

Feel free tо surf to my web blog ::

Anonymous said...

Do yοu mind if ӏ quotе а couple of your postѕ as long as I ρrovide credіt and ѕources back
to уour weblog? Μy websіte is in thе vеry same агea
оf interest as yours anԁ my useгѕ wоuld
definitely benefit fгom a lοt of the infοгmation you
proviԁe hеrе. Please let me knоw іf this okaу ωith yοu.

mу page -

Anonymous said...

Ιt's the best time to make some plans for the future and it is time to be happy. I have read this post and if I could I want to suggest you some interesting things or advice. Maybe you can write next articles referring to this article. I want to read even more things about it!

Also visit my web-site Linked Website

Anonymous said...

It's in reality a nice and helpful piece of info. I am glad that you just shared this useful information with us. Please keep us informed like this. Thank you for sharing.

Also visit my page

Anonymous said...

Εverything iѕ very oρen with а very clear dеscгiptіon of thе issuеs.

It was really informative. Your site is usеful.
Thank you for sharіng!

Also visit my sitе; Bauchmuskeltraining