10 Essential Fiscal Charts Demonstrating America's Disastrous Condition
By now nobody should have any doubts as to just how disturbing America's fiscal debacle is. For those naive and innocent few who still think there is a Hollywood ending with a pot of gold awaiting everyone at the end of the rainbow, we present the following "10 essential fiscal charts" from the Pew Policy Institute. To be sure, these are all charts summarizing data that has appeared on Zero Hedge repeatedly over the years in some way shape or form. Pew does, however, have a flair for dramatic visual presentation. In Pew's own words: "Since April 2010, the Pew Fiscal Analysis Initiative has published several reports explaining the medium-and long-term fiscal challenges facing the federal government. With stagnating economic conditions and the passage of new legislation, especially the Budget Control Act of 2011, the outlook for the deficit and debt has changed considerably over the past six months. We have created 10 charts that illustrate how the choices made over the last 10 years contributed to our nation’s debt and the challenges currently facing the Joint Select Committee on Deficit Reduction." So without further ado...
Source: Pew
(16 votes)
»
- Login or register to post comments
- 38633 reads
- Printer-friendly version
- Send to friend
Similar Articles You Might Enjoy:
- ES Premarket Bid/Offer At 1167, Down 30 Handles
- Hoarding Of Physical Gold, Voracious Global Demand To Produce Undeliverable Gold Futures, Parabolic Move to $2700-3000/oz
- Guest Post: Gold and Economic Decline
- IceCap Asset Management: The Return Of The Dollar
- Charting David Rosenberg's Thesis: "No Gold Bubble Until $3,000"
Timmay!!!!!!
Ohhhhhh Timmmmmaayy..... http://www.youtube.com/watch?v=pz7ruJw6byQ
Ohhhhh USaaaaaaaaaiihhh - US collapse becomes evident to all the world - and just maybe even to the most ardent and proud US HEGEMONS in next six months.
Denial of US decline henceforth is an artform for arses.
It is an amusing coincidence that THIS article is (for) now just above an article on how the euro is doomed...
Isn't it amazing how Charts can show you so clearly the direction or current state of something. In this case it shows the current condition this economy is in.
Its just a cycle and unless, Jobs come back / Hiring picks up we are going to continue the downward trend.
http://www.dailyjobcuts.com
.
It's been more than 3 days - Jobs ain't coming back
Mr. Geitnuh...I've got my cwayons open and I'm weady to color. Do I have to stay inside the lines ?
Elizabeth Warren lobs soft balls to Geithner ! Pure theatre just like Binky got before Congressional Committee ! They are carefully worded (and shared with Timmy beforehand) to make it look like a fiscally conservative bitch is giving him a grilling ! She's the biggest fiscal whore on the hill ! Monedas 2011 Schweinfurt Ball Bearing
Pew Research Centre Oct 12, 2011
Perceptions of Economic News Less Negativehttp://www.people-press.org/files/legacy-pdf/10-12-11%20NII%20Final.pdf#...
http://psr.iq.harvard.edu/feeds/pew-research-center-people-press
thanks timmy. Futures on the highs... already up half a percent and it is not even midnight http://hedge.ly/qNLJBY
These charts are what Krugman and the failed Keynesian clowns refer to as an appetizer.
What happened, I can actually see the charts on my IPhone.
Keep on innovating
I didn't even look at the charts that carefully, because they are based on CBO projections and CBO projections have been and always will be utter crap. They always are way too optimistic in their projections.
Pew, pew-pew!
Usury bitchez.
indeed, without the QEs thus far the U.S. would not have been able to fund the overseas Empire. That is why the Federal Reserve must go, as it not only encourages war but outright prints money to fund them! Without Herman Cain's buddy Greenspan's complacency in the enormous expansion of Federal debt during his tenure as chairman of the FED, It is very possible the US would never have been involved in the many wars it now finds itself neck-deep in. Bernanke, however, has proved the FED has no independence whatsoever. Wait till the Republicans that formally critized him for QE2 start begging for more easing before the Nov. 2012 elections, Bernanke after all is a Republican appointee
Herman Cain!!! The best!!! 9 9 9. Best slogan ever!! Better than "we deliver in 30 minutes or less"!!!!
Has any one run the numbers?
Does 9% of corporate profits and 9% of personal income plus an excise tax of 9% on GDP really produce the $3.5 trillion we currently spend at the federal level each year? Or, is it 999 plus some $500 billion in yet to be announced expenditures reductions. I hear Cain talking about the revenues ala 9,9,9 but have never heard him mention cuts in expenditures. Why?
All I needed to see on the resume to exclude him was "former governor Federal Reserve."
Fool me once shame on you. Fool me twice shame on me.
I'm out on Cain.
If he actually wants to generate $3.5 trillion through taxes that tells us all we need to know.
By my count 9,9,9 generates $3 trillion in revenue which is $700 Billion above our current tax revenue level and still $500 Billion below our spending level.
He sites Kissinger and Greenspan as persons of influence in his life. I would caution him about this propensity. Is he being used?
Negative implications in my view when every single economic transaction is tracked as it would need to be under an excise tax system that he suggests.
999
why, Cain's whole world must be upside down.....
what is it with oligarchs & THAT fricken number?
9-9-9 has alot of assumptions...
like with a 9% fed sales tax people will pay it, like anacho- capitalism wont explode in growth like it already has, no to mention the black and grey markets, and merchants doing cash deals to avoid going out of business...to start.
like the underclass wont rise up because of no earned income tax credits, plus they'll start having to pay taxes....
nope, i dont believe it'll fly, wish it would, for i'd love to see budget surpluses again..
maybe mr cain should have stayed at the federal reserve...or in the pizza business!
He uses a dart board for number generating purposes.
A former chairman (1995–96) of the board of directors of the Federal Reserve Bank of Kansas City. Yeah, that's exactly who I want as my next president.
Like about Herman: that he seems to say what he thinks and doesn't coddle bad behavior.
Don't Like: I'm dead set against another way for this government to tax us. in no time flat 999 will go to 11-11-11 then 16-16-16 and we'll be frickin SOL.
Neither do I think a 9% income tax for everyone will fly with the heavily vote-endowed presently non-income-tax-paying folks.
And I agree with other comments: where are the cuts in spending?
BB is a tptb appointee. Bankers creating war to make countries borrow is a tried and true plan. This is all part of the loose plan: encourage sovereign borrowing. They don't care if they get paid back - they are earning the vig.
How can anyone 'analyze' a system that was created as a fraud against the people. Fruit of the poisonous tree and all...
Bernanke was reappointed by Hopey, so call him the bitch of both parties.
I'll bet you spent a week writing that remark Blythe. I can do it in one sentence.
China finances their exports, via the FED!
I don't care for these numbers. Preparations in place, its ideal to enjoy the current conditions to the fullest. I just got back from Sardegna, Italy, where the city shuts down for 2 hours after lunch so people can take a nap. Deal.
I need an updated version of the tiny umbrella to protect me from all this. Something that can repell a 16-ton weight.
"You load 16-tons, waddya get, another day older and a deeper in debt....
"Saint Peter don't you call me 'cuz I can't go....
"I owe my soul to the Company Store...."
Tennesse Ernie Ford would be proud for using his most popular song; but dismayed at how "real" our lives of owing have become.This was not even thought of during his time.
Bernanke believes infinite QE will make America and the world a much better place.
'Bernanke believes infinite QE will make America and the world a much better place' for the rich.
His goal is deflate the value or the Dollar and Debt owed by the Government and his Bankster Cartel.
He cares not that will impose a heavy burden on those who save and those who's wages are going down.
We are " Worse than Japan Now".
Zombie Banks and a No Growth Society. The only ones growing are the wages of CEO's and Banksters.
That's it, socialism for bankers.
Have you ever stopped to think that perhaps Bernanke is working for the Russians?
Have you ever stopped to think ...
Short answer. No.
But I did stop to think that your post is another good example of why TD should bring the captcha back.
coitus ?
It's all Greek to me.
Risk On.
Peak charts!
It's too late for charts and graphs at this stage of the game...
... basic arithmetic tells us that there is no way out of this without most people getting wiped out. That's what a ponzi scheme is designed to do, and this financial ponzi scheme has done it's job in speculator fashion...
... time for a new system to fleece the masses now, and yes, they will be stupid enough to accept a new system that robs them of a lifetime worth of labor generated wealth.
To me, the whole Atlas thing was the purposeful destruction of the world economy. They disappear while we knife fight each other for food and then they miraculously reappear with solutions. Solutions humanity will never escape henceforth. It will be too rife with tech to turn back.
Before they come back, as we wheedle for them to add some semblance of sanity to society, we'll strike a deal. We'll do whatever they say from that moment forward.
Now you're a slave forevermore.
Last chance saloon.
You and funkymonkeyboy should hang out together, fun times.
Hmm...this is a fight club. Could you be so bold as to elaborate?
You're point lacks succinctness. Perspicacity. It's a half-assed phrase that hangs in the air like smog. A patina of intellectual dross.
Neural scoria.
Speak quickly if you can. It grows late here.
Funny, + 1
I'll keep this short: Buy gold.
So the .01% go underground with their (alien?) tech? Do they have enough for 6 billion people? Because that's what will be left unless most of the nukes and other WMDs fly, along with bioweapons. If they emerge to find 6 billion people busy burying another billion while they jerked off in their tech lairs, unless they have tech that renders us inert, we're going to kill them and take it for ourselves. At that point, people will be more than pissed. If the heavy stuff gets used, they can't control who owns the remainders if they are underground. They may emerge to find themselves outgunned. Too much risk, better to sit back and watch it unfold, ready to play whatever cards they have left. If they abandon the world, they re-emerge into our world, if we can keep it. Your original comment boils down to little more than fancy speculation about extermination and enslavement by shadowy powers. Kids' stuff unless you get specific.
The point I was indelicately making is that you seem a tad negative. If the cake is baked, why aren't you shooting or digging, rather than hanging around here mentally masturbating? If you really believe what you wrote, then get blatant about it. Tell us about the tech, why it's all hopeless, and why we need to start shooting or digging.
I appreciate your response. DARPA released the internet how long ago? Despite Al Gore's protestations. What do you think DARPA has been up to since then?
No shit. Anyone with half-decent observational skills know what's in store for "humanity."
There's no escape from it. Madmen think there's any true improvement to society.
www.youtube.com/watch?v=vI9c68i6QSg
It's too late for charts and graphs at this stage of the game...
I do not even read these types of articles anymore, do we really need multi-color circular graphs to tell us our government has insured our bankruptcy?
There is no reasonable way that the "welfare state" can end without massive pain. That we continue to think some "committee" can solve this thing is absurd.
We had a slim chance in 2008/09 to restructure on a sustainable path, but we in our stupor let Bennie print instead.
The story grows old and stale, but the end has yet to play out.
sschu
But the end will be grand.
You've gotta welcome it, because if you go into this mess any less than certain, you're not going to make it out alive.
I suspect when the overdue black swan lands, many people, innocent as they may be, will be envying the dead.
"There is no reasonable way that the "welfare state" can end without massive pain. That we continue to think some "committee" can solve this thing is absurd."
There is no reasonable way that THE MILITARY EMPIRE OF THE SQUID AND ITS ILK can end without massive pain. The Magic Committee can't figure out how to open the bottle of pixie dust or the box of crayons.
We're fornicated.
+1 for THE MILITARY EMPIRE OF THE SQUID AND ITS ILK. Well put. Not my military empire. Not yours either.
"I do not even read these types of articles anymore, do we really need multi-color circular graphs to tell us our government has insured our bankruptcy?"
"insured," that kind of makes this a bit more interesting :-)
too late?
too late for chart porn?
only our national dedication to zionism can save us now, BiCheZ!
Take it in stride! Be a better man...
me neither as long as 401K is taken care of. :)
Don't worry, .gov is crafting up many plans to "take care of" your 200.5K....
After analyzing all of the charts, Zorba has come to the conclusion that we are up shit creek
and we have shipped all our paddles to China as collateral for our massive debt.
but we can just import brand new paddles and air freshener at low cost.
@ zorba
Up shit creek, yes. And there are no paddles, no easy ways out. A lot of pain lies ahead. Preparations are important.
One way to get started is to buy gold, still very cheap. Silver is OK too. Pb and lead delivery devices. Medical supplies. Water treatment equipment. And so on...
It is not going to be fun.
DoChen, Zorba agrees and has been preparing for years. Gold will take off very soon
and silver will follow. Last year when gold was around $1200, Zorba did a large gold
deal with an international gold dealer. He had some very wealthy clientele who were
buying gold from him. They told him that he should not be concerned whether he bought gold at
$1100 or $1200 Or even $1300, as that price would be insignificant to where they saw the price
of gold going in the next few years.
+ $55,000
DoChen that might be a tad on the optimistic side.
I have a young Chinese friend who goes by the name chewy (like chewbaca)
His name is chew. I convinced him to buy silver years ago when it was $10/oz.
I bought silver for him at $10 up to $18/oz. I told him it would be worth a lot more in
a few years. He is very grateful for my advice and recently asked me if it were time to
sell. I told him that when I said silver would be worth a lot more, I meant a whole lot
more. I am convinced that silver will be $200+/oz by 2015. When it becomes public that
paper silver contracts are backed by less than 10% physical silver, the price is going to go
parabolic. The gold silver ratio is going to somewhere between 16/1 to 10/1 or even lower.
And gold is going a lot higher. You do the math.
zorba, the $55,000 comes from my "Trail Guide" FOFOA (the guy I respect most re gold and its future prices). His argument, in part, is similar to what you just sketched out re silver: LOTS more "paper gold" and ("paper silver", although FOFOA likes gold MUCH better for various reasons).
Re selling. I will sell my silver only when I need to if we get a SHTF. I will keep my gold to preserve my wealth afterwards. I will NOT sell my gold, but I might GIVE it away...
Silver may become more valuble, but if so, it will have nothing to do with the ratio of paper contracts to silver backing. It wouldn't matter if the contracts were backed by only 1% of physical silver, because almost all contracts are cash settled and buyers don't stand for physical delivery.
And did that wild figure pop into your head whilst playing with your plonker?
fofoa.blogspot.com
You will need a lot of time, mental horsepower and stamina to read through his blog (I would suggest starting in +/- Oct 2009). He builds a VERY convincing case that gold will soar to heights unimagined by almost everyone as (physical) gold reverts back to its ancient role, the best wealth preserver there is.
You are dealing with a bunch of people here who still laugh at fart jokes. This is some serious stuff, but the only cogent comments we get are buried in the dung heap of crude attempts at humor or racial/ethnic trolling. And then they wonder why the "old timers" don't hang around. I've taken to reading the articles and pretty much skipping the comments.
Lighting Fart On Fire
Fire fart number 2 ... HILARIOUUSS!!!
I'd first suggest de-programming. Having a pile of gold and still thinking that it's going to be great to pick up on a cheap condo is...
Pee Yew...!!!
Something smells.
It's not a bad smell, it's just the cordite wafting up after turning the charts to Swiss Cheese.
Sorta like the boat .gov is paddling the US around in, and the bucket they're using to bail....
Yep the gig is up, at this point trying to find a safe place to invest your money in stocks or bonds is like running from one end of the Titanic to the other and thinking your safe. Doesn't matter which end you're on boys, the bitch is going down. Best bet is to grab a PM life boat and hope for the best!
No worries.
The next 10% correction we get in SPY, the 10-yr. yield will plunge faster than the speed of light as maniacal investors flee to the safety of paper.
Heck, we got a paltry 20% correction and we experienced the biggest, fastest Treasury rally in history, even faster than the 2008 Treasury rally.
Next time, I expect the knee-jerk reaction to be even faster.
Nobody, I mean nobody is going to miss out on the next "Treasury Buying Panic"
You really need to watch that hour long Kyle Bass interview...
@ Robot
You have walked the plank before by making predictions. TRADING ones. I do not trade, but I am going to try and see how your calls go.
Yet another symptom that our system is completely broken is the fact that people will pile into 10-Year Notes at under 2%, they did just weeks ago.
the safety of paper ... hilarious ... true ... for a little while.
Paper keeps you warm in the winter. Until it's char.
# 11: ( Fiscal Irresponsibility, via the alien [XAU] bugs from the History Channel, that created us in the first place.)
Just a small joke. Relax, haircuts will be given. If thoughts can be conjured, surely they can be propagated.
I'm starting my risk off week with an easy tone.
#12: [you are still ||wasted|| from your <birthday> aren't you, *Y/C?
Stay long the trade Slewie.
Obama’s #105 – Occupation
hehehe
http://www.google.de/#sclient=psy-ab&hl=de&site=&source=hp&q=site:ft.com...
how do i apply for a position with #7 the joint select commitee?
i've had some experience
and 99 weeks to hone my skills.
Have you got your own cape?
If not, maybe Sovereign Man can lend you one.
LOL