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What The US Government Spent Its Money On Last Quarter

Tyler Durden's picture




 

The most vocal justification provided for the disappointing Q4 GDP print by the mainstream was an increase in US government "austerity" resulting in a decline in the government contribution to the economic bottom line in the last quarter (or first fiscal quarter of 2013). Ironically, both total spending and total debt issuance in the past quarter increased, which means that far from being austere, the US actually spent more, not less, i.e., the opposite of austerity.

And while it is true that Defense spending declined by a tiny amount in the past quarter compared to the year ago, it was more than offset by a surge in Medicare and Medicaid, as well as Social Security, or, as they are better known, welfare. And, as the CBO yesterday showed, these two components of US spending, which together account for half of all US spending and which couldn't be funded by all US revenues even if the government spent $0.00 for all other programs, which will soar in the coming years as US society ages, as more workers retire, and as more are reliant on Uncle Sam for the payment of every bill. So the next time someone say that the US has a defense spending problem and nothing else, show them this chart.

Oh, and those concerned about the decline in interest payments on a year over year basis, don't be. Here is the OMB's forecast for what US interest expense will be in the next decade. Needless to say, it is growing fast to quite fast...

... although since by 2022 the Fed will own all US debt and promptly remit it to the Treasury, a condition most prominently observed during the Weimar hyperinflation, it is arguable that the US will have bigger problems by 2022 than what the debt interest payment is.

 

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Wed, 02/06/2013 - 16:46 | 3221189 ghostfaceinvestah
ghostfaceinvestah's picture

I love the terminology "defense".  We really needed to spend that much to "defend" ourselves???

Let's call it what it is - military spending pork.

Wed, 02/06/2013 - 16:48 | 3221197 azzhatter
azzhatter's picture

Should be military aggression

Wed, 02/06/2013 - 16:49 | 3221204 ghostfaceinvestah
ghostfaceinvestah's picture

Good term - "military aggression spending".

Wed, 02/06/2013 - 16:56 | 3221232 Spider
Spider's picture

Actually the military spending/aggression is way off - it only includes on-budget military expenditures.  off-budget/extraordinary military expenditures probably add another $100 billion / quarter.

Thats the cost to make a few people rich off fat military-industrial war contracts...

Wed, 02/06/2013 - 17:03 | 3221254 dick cheneys ghost
dick cheneys ghost's picture

I dont recalll seeing a line-item deduction on my paystubb for $trillion dollar, endless wars

 

Maybe they should add one.

 

http://www.dailymail.co.uk/news/article-2274331/CIA-runs-secret-airbase-...

Wed, 02/06/2013 - 17:14 | 3221281 Grimbert
Grimbert's picture

http://www.telegraph.co.uk/news/worldnews/northamerica/usa/9853693/Saudi...

 

Saudi drone blackout raises doubts about US media independence

http://www.telegraph.co.uk/news/worldnews/northamerica/usa/9853495/US-me...

US media kept Saudi drone base secret for two years

Wed, 02/06/2013 - 17:42 | 3221378 hidingfromhelis
hidingfromhelis's picture

MIC Entitlement Spending

Wed, 02/06/2013 - 17:47 | 3221386 new game
new game's picture

upped my mic spending-some new toys and training to boot.

no off sheet acctg as my wife approves....

Wed, 02/06/2013 - 18:00 | 3221417 AlaricBalth
AlaricBalth's picture

Did everyone here sleep through elementary school indoctrination?
We must defend...freedom!
Whatever the cost.
;-)

Wed, 02/06/2013 - 18:23 | 3221476 kchrisc
kchrisc's picture

And to protect freedom we had to destroy it.                 hujel

Wed, 02/06/2013 - 19:29 | 3221667 CH1
CH1's picture

You MUST obey teacher.

Wed, 02/06/2013 - 17:48 | 3221392 Zap Powerz
Zap Powerz's picture

Dont you just love how all the anti war, pro civil liberty types that were around when Bush was president have suddenly decided to shut the fuck up as obama, their guy, continues and even expands the same policies of Bush?

I look forward to asking these useless fucks that voted for Obama if they are still glad they said nothing about the expanse of exeutive power under Obama when the next guy is a republican "war monger".

You know, just like I get a kick out of asking brain dead republican fucks now if they are glad they supported Bush and his illegal wars that Obama carries on (that they complain about).

What a retarded fucking cuntry we live in.

Wed, 02/06/2013 - 18:32 | 3221511 James_Cole
James_Cole's picture

Actually, the same people who protested all the Bush bullshit are still around and now protesting Obama (including many lawsuits surrounding the Drone program etc.). Unfortunately, no one paid much attention then and they don't pay any more attention now.

Even still, there was some surprising success vs. NDAA (until an absurd emergency stay saved the Obama admin collective asses)

http://en.wikipedia.org/wiki/Hedges_v._Obama

Wed, 02/06/2013 - 19:46 | 3221699 Harbanger
Harbanger's picture

Really? The MSM must be doing a great job covering up all of the protests.

Thu, 02/07/2013 - 00:39 | 3222221 James_Cole
James_Cole's picture

I don't know what people refer to when they say "MSM" all I know is if you read newspapers (where do you think ZH gets about 90% of their stories from??) you will see the coverage.

The case against NDAA (which I linked to and was successful in court) was covered frequently in the press I read.

If all you do is watch television "news" then I have no idea what coverage you are seeing, probably a lot about guns, superbowl, reality TV - I don't know though, I don't watch TV news anymore.

Wed, 02/06/2013 - 21:29 | 3221931 mofreedom
mofreedom's picture

I didn't like bush but it ain't about him anymore you cock sucking mother fucker.  It's Obama now.

Thu, 02/07/2013 - 00:40 | 3222225 James_Cole
James_Cole's picture

"I didn't like bush but it ain't about him anymore you cock sucking mother fucker.  It's Obama now."

Some grade school reading comprehension classes would do you well mofreedom.

Wed, 02/06/2013 - 21:14 | 3221896 Totentänzerlied
Totentänzerlied's picture

Comparing Bush to Obama in front of a liberal is the fastest route to unmasking their hypocrisy. The response is literally priceless.

Thu, 02/07/2013 - 00:41 | 3222229 James_Cole
James_Cole's picture

A lot of liberals despise Obama. But yes, there are clueless people of all political stripes.

Wed, 02/06/2013 - 18:33 | 3221516 Doomer
Doomer's picture

Ooooo, that is rich:  Israeli-designed drones dispached from the Muslim holy land to kill Muslims.  That is going to go over really well with the rank-and-file over there.

You know it is just a matter of time before those things get hacked and turned against our bases over there.  That'll be fun for our boys.

Wed, 02/06/2013 - 20:12 | 3221753 knukles
knukles's picture

Had the drone bases been found under Bush or any other non-Democrap, the press, independent, fair, balanced, insightful and whatever other horseshit you wanna believe would a been spread over all the front pages, shouted from the roof tops.

I. am. sick. of. this. shit.

Wed, 02/06/2013 - 18:50 | 3221564 Henry Hub
Henry Hub's picture

There definitely should be a war tax, there should have been one from the get-go, right from the the start of the Iraq/Afghanistan wars. Then people would know what it costs and they are paying for it.

Wed, 02/06/2013 - 17:18 | 3221303 hooligan2009
hooligan2009's picture

the pentagon figures that its costings are for limp wristed accountants...they generate a lot of tapayer revenue from oil (iraq) cocaine (colombia) heroin (afghanistan) not to mention tax free goods from the colonies of the US (Japan, Germany, Korea, the UK etc) whilst providing the backbone of fit and strong men to keep comunities sane.

Wed, 02/06/2013 - 17:20 | 3221308 diogeneslaertius
diogeneslaertius's picture

"military aggression pork"

permission to make that the name of my new punk band lol

Wed, 02/06/2013 - 16:51 | 3221212 CrimsonAvenger
CrimsonAvenger's picture

It actually used to be called the Department of War - guess that wasn't as palatable.

Wed, 02/06/2013 - 16:56 | 3221233 CClarity
CClarity's picture

Meanwhile, Irish Parliament calls a late night meeting to discuss liquidating one of the largest Irish banks.  We just pay them off here ala taxpayer revs - in the budget?

Wed, 02/06/2013 - 17:22 | 3221318 diogeneslaertius
Wed, 02/06/2013 - 18:57 | 3221583 lincolnsteffens
lincolnsteffens's picture

Should be commercial/industrial natural resource extraction protected by Military and backed by Banksters aided by US taxpayers.

Please continue

Wed, 02/06/2013 - 16:48 | 3221201 LawsofPhysics
LawsofPhysics's picture

In the meantime, the BRICs are dumping the equivalent amount plus some into research and development.  Yeah, I am sure this will end well.

Wed, 02/06/2013 - 17:19 | 3221304 Sudden Debt
Sudden Debt's picture

Oh well... if that chart wasn't a zero base graph it wouldn't look all that bad...

And inflation adjusted, that debt won't even buy ya a sack of peanuts!

Wed, 02/06/2013 - 17:47 | 3221388 Panafrican Funk...
Panafrican Funktron Robot's picture

"And inflation adjusted, that debt won't even buy ya a sack of peanuts!"

This.

Wed, 02/06/2013 - 16:58 | 3221237 marathonman
marathonman's picture

How about we call it the Republican make-work jobs program?

Wed, 02/06/2013 - 17:54 | 3221399 Beam Me Up Scotty
Beam Me Up Scotty's picture

As long as you call the US Postal System the Democrat make-work job program we have a deal.

Wed, 02/06/2013 - 18:19 | 3221464 DosZap
DosZap's picture

the US Postal System

Should have been PRIVATIZED years ago.

Wed, 02/06/2013 - 18:43 | 3221539 trav777
trav777's picture

isn't delivering the mail in the constitution or something?

Wed, 02/06/2013 - 20:46 | 3221829 Woodyg
Woodyg's picture

Yea it is but the Constitution is Sooooo yesterday -

Neither party gives a flying f@&* about the constitution.

I might also add that Social Security isn't adding to the debt but is in fact lessening the debt as any surplus is stolen by the general budget never to be repaid.

Making it an added tax on the lower income worker.

Kind of like people who always talk about the high Income taxes the wealthy pay but fail to mention any other tax paid - from sales taxes, to property taxes, to gas taxes, and on and on -

And besides since the worthless Malinvestment we call the top .01% don't actually create any real economic wealth AND they're taking home 93% of all new income perhaps they shouldmpay 93% of all new revenue needed. These are the same predators and jackals that outsourced decent jobs and then bitch because the lower working class doesn't pay enough taxes.

Wed, 02/06/2013 - 23:16 | 3222122 Rossalgondamer
Rossalgondamer's picture

Queen's gotta have something to read.

Thu, 02/07/2013 - 09:12 | 3222546 midtowng
midtowng's picture

The postal system goes back to before there was a Democratic party. So no, that doesn't work.

Wed, 02/06/2013 - 17:56 | 3221408 Zap Powerz
Zap Powerz's picture

Yeah! Rock on dude!  Blue team kicks ass! Blue team is number one!  Blue team go! Blue team yay!

Those stupid red team guys suck dick!  Losers! Boooooo!

Since youre probably too fucking dense to understand that Im making fun of you, marathonman, let me just say that youre part of the problem.  You root for statism and complain when your team isnt winning.  Freedom loving people have no use for dicks like you so fuck off.

Wed, 02/06/2013 - 17:00 | 3221244 haskelslocal
haskelslocal's picture

There's a "message" issue with the top three. I think the titles need some freshing up:

1) Pharma & Obesity Spending

2) Geting Old and Dying Quick spending

3) Fear Mongering

 

Wed, 02/06/2013 - 17:14 | 3221288 hooligan2009
hooligan2009's picture

3) Colonization

there, fixed it for you...pick your colon !

Wed, 02/06/2013 - 17:15 | 3221290 hooligan2009
hooligan2009's picture

not literally though

Wed, 02/06/2013 - 17:12 | 3221283 FL_Conservative
FL_Conservative's picture

More like military corporate welfare or military industrial complex pay backs.

Wed, 02/06/2013 - 18:14 | 3221454 Zap Powerz
Zap Powerz's picture

The welfare/warfare state is really expensive.  You can either "join up" and "serve your country" or you can just quit working and have your country support you.  Either way, youre a ward of the state.

There are a few of us left that get to work 60+ hours a week building a business so the government can take over 50% of it to support the welfare/warfare state.   Jesus, who is the dumb one here?

There is just no way what we have in this country is anything remotely close to capitalism. 

Wed, 02/06/2013 - 19:32 | 3221672 CH1
CH1's picture

There are a few of us left that get to work 60+ hours a week building a business so the government can take over 50% of it to support the welfare/warfare state.   Jesus, who is the dumb one here?

I agree entirely. So... Just Stop Obeying Them.

Wed, 02/06/2013 - 20:16 | 3221761 Zap Powerz
Zap Powerz's picture

Im a rat in a cage.  I made the cage myself, I know.  But I like to work and produce something of value. I just hate it that people that produce little or nothing get over half of it.

Wed, 02/06/2013 - 20:27 | 3221794 de3de8
de3de8's picture

Agree, worked for years to create some net worth and now have to keep grinding to support the loads. The sooner it collapses the better IMO.

Thu, 02/07/2013 - 09:08 | 3222542 tarsubil
tarsubil's picture

I heard a story about an old timer that ran a very honest and good business that sold wood working supplies. He'd been in business for decades. A bunch of his big customers just said they were going bankrupt and unable to pay their bills. After a good go at running his own business, he liquidated everything and closed up shop. He no longer saw the point in working his derriere off to be net negative over the year. I hear negative stories about real businesses all the time. But stocks are up so no worries.

Thu, 02/07/2013 - 01:19 | 3222276 LongBallsShortBrains
LongBallsShortBrains's picture

You, my friend are on a fucking ROLL!!!!!!!!

Wed, 02/06/2013 - 17:33 | 3221356 Lendo
Lendo's picture

"Offense spending"

"Department of offense"

Wed, 02/06/2013 - 17:42 | 3221377 Aurora Ex Machina
Aurora Ex Machina's picture

STOP RESISTING

STOP RESISTING

STOP RESISTING

Wed, 02/06/2013 - 19:34 | 3221674 CH1
CH1's picture

Stop complying too.

Wed, 02/06/2013 - 18:20 | 3221468 Slightly Insane
Slightly Insane's picture

The irony is that They don't want YOU to be able to DEFEND yourself ..... 2nd Amendment style. 

I say screw'em.

Wed, 02/06/2013 - 19:36 | 3221679 DosZap
DosZap's picture

The irony is that They don't want YOU to be able to DEFEND yourself ..... 2nd Amendment style.

I say screw'em.

That scurrolous bitch Freinestein from the wunnerful state of ALL Libtards, is end running the Senate to try her DAMNDEST to get ALL semi's banned, not just the AR/AK clones.

Reid is trying play nice(like the snake he is, along with Manchin(traitor!), so if it get's thru it won't be defected onto him, or the Dems up for election in '14.

IF the House doesn't SHUT the Senate down, she will get more than she ever bargained for.

 

Wed, 02/06/2013 - 19:18 | 3221638 Piranhanoia
Piranhanoia's picture

This may be that Tyler that thinks defense spending or bribery as it is known in real terms,  isn't welfare.  Where SSN and Medicare are programs that are paid for by the people willingly as it actually provides a benefit to them for their work.

Wed, 02/06/2013 - 21:53 | 3221972 dirtbagger
dirtbagger's picture

Social Security is welfare? who does this dickhead author think he is.  Thanks to big SSI taxes increases of Reagan, many of us boomers have paid in 2x-3x what we will ever recover. 

Wed, 02/06/2013 - 21:24 | 3221922 mofreedom
mofreedom's picture

Fuck you, no down arrows?  You must be on welfare.

Wed, 02/06/2013 - 16:49 | 3221193 LawsofPhysics
LawsofPhysics's picture

Does math matter anymore?  It doesn't until it does, same as it ever was.

Wed, 02/06/2013 - 16:54 | 3221221 otto skorzeny
otto skorzeny's picture

seriously-why even tax people when you can just print the shit-the level of absurdity has been reached long ago-its all bukkake theater now

Wed, 02/06/2013 - 17:55 | 3221401 Beam Me Up Scotty
Beam Me Up Scotty's picture

"its all bukkake theater now"

I see what you did there......

Wed, 02/06/2013 - 18:16 | 3221458 Zap Powerz
Zap Powerz's picture

I WISH SOMEONE WOULD ASK THAT QUESTION AND GET AN HONEST ANSWER!  FUCK!

Yes, my caps were intentionally on because I WAS YELLING!

Wed, 02/06/2013 - 16:48 | 3221196 NoDebt
NoDebt's picture

Looks like I picked the wrong week to stop sniffing glue.

Wed, 02/06/2013 - 18:27 | 3221487 Slightly Insane
Slightly Insane's picture

More like the wrong decade ..... I too gave up glue ..... "I used to care, now I take a pill for that" - borrowed from the chick with a funny Tee Shirt.

 

Years ago, when explaining to a "Superior" why something was "bad ... very bad", we used to say ..... The only way that would be reasonable Sir , was if you were on both Heroin and Crack. 

Today that would be a gross understatement.

Wed, 02/06/2013 - 16:48 | 3221198 Theta_Burn
Theta_Burn's picture

USPS halting saturday deliveries should plug that gap...

Wed, 02/06/2013 - 17:02 | 3221249 koncaswatch
koncaswatch's picture

Bwahahaha... good one

Wed, 02/06/2013 - 17:04 | 3221259 Midas
Midas's picture

Yeah, the 2 billion they hope to save looks pretty small next to these.  It might be time for other agencies to eat their peas.

USPS has gotten rid of 200,000 employees since 2006.  How about the rest of these government agencies?  Zero?

Wed, 02/06/2013 - 17:08 | 3221272 SmallerGovNow2
SmallerGovNow2's picture

The USPS get's ZERO funding from congress.  They make money on their postal fees and run like a business...

Wed, 02/06/2013 - 17:24 | 3221329 SDShack
SDShack's picture

Well a business that loses $16b a year should go bankrupt and be reorganized. How much you wanna bet that happens with USPS?

Wed, 02/06/2013 - 18:45 | 3221549 trav777
trav777's picture

they have to prefund pensions...so congress can raid the monies.

If the US had to prefund like this, we'd have deficits of $200T

Wed, 02/06/2013 - 17:26 | 3221335 NoDebt
NoDebt's picture

Except every decision they make has to be approved by Congress (and the unions, of course).

This in no way means they won't get a bail-out, because they will.

Wed, 02/06/2013 - 17:33 | 3221352 DCFusor
DCFusor's picture

Of course they'll get a bailout.  Congress will never give up free franking...

Wed, 02/06/2013 - 18:17 | 3221456 DosZap
DosZap's picture

it was more than offset by a surge in Medicare and Medicaid, as well as Social Security, or, as they are better known, welfare.

Neither one of these two programs are WELFARE.

Welfare is something for nothing.

If the Dems would stop giving away benefits paid in by workers to non working,never worked WELFARE recips(as well a SS to illegal immigrants, and Immigrants), who NEVER paid a dime into the system.

Along with Medicaid to those same GROUPS.

We would have a ton less money going out than in.(how does that make ALL of you feel, folks getting YOUR SS/MC contributions for free, along with free Medicaid???.

Pisses me off.(when they are going to cut the contibutors payouts!)

The DHS has a website telling illegals, and Immigrants to see if they qualify for FREEBS!!!!!!.What the hell is the DHS got to do with these programs???

 

Wed, 02/06/2013 - 18:18 | 3221463 Zap Powerz
Zap Powerz's picture

Welfare and social programs reward laziness and poor planning.  Lets try living in a reality where bad decisions get punished instead of rewarded.  Certainly this stupid system that reward bad behavior isnt working so how bad could it be if we just stop rewarding people for poor planning and bad behavior?

Wed, 02/06/2013 - 18:30 | 3221505 flattrader
flattrader's picture

>>>so how bad could it be if we just stop rewarding people for poor planning and bad behavior?<<<

No prob if the same goes for corporations and banks in particular.

Wed, 02/06/2013 - 19:07 | 3221618 DosZap
DosZap's picture

>>>so how bad could it be if we just stop rewarding people for poor planning and bad behavior?<<<

Well that is not how the LIBTARDS do it, gotta keep that voting base intact!!.

Were you old enough to witness the Watts riots?.

Think that times 100 million.

Wed, 02/06/2013 - 18:26 | 3221485 Poetic injustice
Poetic injustice's picture

"The DHS has a website telling illegals, and Immigrants to see if they qualify for FREEBS!!!!!!.What the hell is the DHS got to do with these programs???"

 

They will later hire most qualified shooters to do some work for DHS. If you refuse, you get deported/

Wed, 02/06/2013 - 18:29 | 3221496 Slightly Insane
Slightly Insane's picture

Do any of the Welfare recipients receive their "juice" via the mail or is it all EBT and Direct Deposit?

Thu, 02/07/2013 - 09:16 | 3222559 tarsubil
tarsubil's picture

Ending Saturday deliveries was such a no brainer cost saving measure for so long, it just shows that fiat bailouts really do prevent efficiency. The government could balance the budget if it wasn't addicted to fiat. Fiat enables all the crazy, path of least resistance, we'll fix it tomorrow can kicking. As with all addictions, the bottom must be reached before a true fix can be embraced. The question is, when do we hit bottom? How much longer do we have to wait?

Wed, 02/06/2013 - 16:49 | 3221205 Chuck Norris
Chuck Norris's picture

Where would Gold purchases fit under?

Oh...

Nevermind.

Wed, 02/06/2013 - 16:55 | 3221228 1100-TACTICAL-12
1100-TACTICAL-12's picture

We be screwed. I wonder in amazement how the worlds greatest circle-jerk just keeps chugging along. Oh well off to the CHOOMwagon.

Wed, 02/06/2013 - 16:58 | 3221236 Dr. Richard Head
Dr. Richard Head's picture

2022?  If the US is still around then, I will gladly start buying government debt. 

Wed, 02/06/2013 - 16:51 | 3221211 Darth..Putter
Darth..Putter's picture

Either it's offensive spending.

 

Do we have a wellfare contribution taken out of our paychecks?

Wed, 02/06/2013 - 17:00 | 3221243 Dr. Richard Head
Dr. Richard Head's picture

Do we have a welfare contribution taken out of our paychecks?

That would be a big 10-4 good buddy.  Regardless of whether they call it Federal income tax, State income tax, social security, or medicare all of that money goes into the general fund and is fungible.  Corporate welfare, military welfare, social welfare are, at least according to this chart, the top welfare recipients of whatever tax those fucks want to call it.

Wed, 02/06/2013 - 17:52 | 3221397 Panafrican Funk...
Panafrican Funktron Robot's picture

Indeed, the Gore "Lockbox" meme was a complete farce.  Ditto for state pensions by the way.

Wed, 02/06/2013 - 17:57 | 3221411 Beam Me Up Scotty
Beam Me Up Scotty's picture

Hey, those IOU's are going to be worth something.....someday.  And they are locked safely away in the Lockbox.

Wed, 02/06/2013 - 16:56 | 3221213 otto skorzeny
otto skorzeny's picture

I think the ratio of defense to education proves that .gov wants our kids to be just smart enough to pull a rifle trigger and just dumb enough not to question why. I'll be watching for all of The Evening News' to be showing this chart as their lead story tonight/sarc off.

Wed, 02/06/2013 - 17:02 | 3221252 Tsar Pointless
Tsar Pointless's picture

I think the ratio of defense to education proves that .gov wants our kids to be just smart enough to pull a rifle trigger and just dumb enough not to question why.

You would be correct to believe such a concept.

I mean, we didn't borrow the Prussian Education system from Kaiser Wilhelm for nothing. You know?

Look it up. It's true.

Wed, 02/06/2013 - 17:06 | 3221267 SmallerGovNow2
SmallerGovNow2's picture

The bulk of education funding comes from local communities in the form of property tax collections.  The federal government has no business what-so-ever in education...

Wed, 02/06/2013 - 17:11 | 3221277 Dr. Richard Head
Dr. Richard Head's picture

But the statists will argue more money, more resources, and more people - lead by the Federal or State government - will fix it all.

Wed, 02/06/2013 - 17:17 | 3221296 otto skorzeny
otto skorzeny's picture

I'm not a statist-but there is something seriously fucking out of whack if you look at that chart.

Wed, 02/06/2013 - 17:58 | 3221413 Beam Me Up Scotty
Beam Me Up Scotty's picture

Its one of those charts where you have to let your eyes cross to see the Unicorn shitting a rainbow of skittles.

Wed, 02/06/2013 - 17:38 | 3221368 Not Too Important
Not Too Important's picture

Wait till all those Capitol Appreciation Bonds kick in. Holy Jesus!

Wed, 02/06/2013 - 18:20 | 3221467 Zap Powerz
Zap Powerz's picture

Otto, spot on.

Defense spending should be what education spending is and education spending at the federal level should be a big fat ZERO.

Wed, 02/06/2013 - 17:00 | 3221242 earleflorida
earleflorida's picture

since 1946 until 1996 [fifty years?] the U.S. D.O.D. has spent $8.63 tn. on maintaining our 'Nuclear Arms Strategic Weapons Arsenal'-- since 1996, til present, the U.S. MIC's have spent on average, upgrading/downgrading our insane 'WMD gargantuan depot' to the [black-box figures?] conservative tune of $500bn annually.

now... here we are today broke and having an annual upgrade -- at minimum of $0.5 trillion yearly... until ?????    

Wed, 02/06/2013 - 17:29 | 3221347 negative rates
negative rates's picture

Until 2022, if man is still alive.

Wed, 02/06/2013 - 17:37 | 3221364 Not Too Important
Not Too Important's picture

There will be a lot less. No question about it.

Green tea, anyone?

Wed, 02/06/2013 - 18:15 | 3221391 hidingfromhelis
hidingfromhelis's picture

Yeah, the year 2525 was a tad optimistic.

http://www.youtube.com/watch?v=yesyhQkYrQM

Wed, 02/06/2013 - 17:02 | 3221251 Donlast
Donlast's picture

Look the American fiscal/debt fiasco is becoming a bore.   The American hoi poloi has lost it.  No question. 

Wed, 02/06/2013 - 17:03 | 3221255 Frank N. Beans
Frank N. Beans's picture

"...a surge in Medicare and Medicaid, as well as Social Security, or, as they are better known, welfare."

umm, medicare and soc sec are not welfare, but yeah, they are ponzi's, or at least soc sec is. 

 

Wed, 02/06/2013 - 17:17 | 3221297 donsluck
donsluck's picture

The writer has weak critical thinking skills. SS is NOT welfare. SS is a TRUST system whereby I am SUPPOSED to at least get out what I PUT IN. In reality, I will only get maybe 0.8 of what I put in, and people like the writer want to misrepresent SS so they can justify taking ALL of it.

Wed, 02/06/2013 - 19:05 | 3221613 Henry Hub
Henry Hub's picture

***The writer has weak critical thinking skills***

Yah, I think Wednesdays are when the Tylers have taken to sticking bath salts up their asses. The whole post is ridiculous.

Wed, 02/06/2013 - 19:23 | 3221653 Henry Hub
Henry Hub's picture

Correction, ONE of the Tylers is sticking bath salts up his ass! The other posts seen to be rational.

Wed, 02/06/2013 - 17:06 | 3221262 Kantbelieveit
Kantbelieveit's picture

What goes unmentioned is that we are the ONLY advanced nation without single-payer health care. Thus we spend about 20% more per person on health care and we get worse results than other nations. Move the US to single payer and the deficit problem largely vanishes.

Wed, 02/06/2013 - 17:18 | 3221302 Dr. Engali
Dr. Engali's picture

Oh quit your bitching. You got your shitty Obummercare you wanted, and my premiums promptly doubled. You made a deal with the devil and now we have to pay the price.

Wed, 02/06/2013 - 17:23 | 3221323 slightlyskeptical
slightlyskeptical's picture

Care to prove that? I got kicked off company insurance and my new premiums are the same as they were 5 years ago when i last payed for my own. I think all you people are full of crap.

Obamacare sucks and is not what anyone wanted that voted for Obama. We wanted single payer. Republicans kaboshed that idea. However that tax credit for insurance will save me a bunch of money.

Wed, 02/06/2013 - 17:32 | 3221350 SDShack
SDShack's picture

In 2009 I was paying $393/month for Kaiser HSA for me and the wife. Now it is $584/month...a 49% increase. The biggest jump started in 2011, right after 0zer0care passed. Each year after has seen about the same jump...$50-70 more per month each year. So, yes, I can say this escalation was due to 0zer0care.

Wed, 02/06/2013 - 18:30 | 3221499 Beam Me Up Scotty
Beam Me Up Scotty's picture

Don't worry.  Single payer is not too far off.  After Obamacare bankrupts everyone, thats all you will get is government healthcare.  Guess what?  It will be bad healthcare.  But when everyone gets shitty healthcare, it won't be long before thats all everyone knows.....shitty healthcare.  And then it won't be shitty anymore because no one will be around to remember what good healthcare was really like.

Wed, 02/06/2013 - 17:25 | 3221325 brak
brak's picture

+1 Doc!  nothing will save the middle class faster than a $20k/year obummer health care plan

Wed, 02/06/2013 - 17:34 | 3221359 Not Too Important
Not Too Important's picture

Only if there are doctors to go to. All the smart HS kids aren't looking for a career in medicine. That's over.

And over 50% of the doctors are slated to retire in the next few years. Obamacare is only going to accelerate that process.

Wed, 02/06/2013 - 18:32 | 3221512 Beam Me Up Scotty
Beam Me Up Scotty's picture

Let the rationing begin.  Used to be you could call in the morning and be seen same day at a clinic.  Not anymore.  I had to wait almost a week to get a flu shot.  Couldnt just walk in.  Specialty services are months out.

Wed, 02/06/2013 - 18:54 | 3221561 DosZap
DosZap's picture

What goes unmentioned is that we are the ONLY advanced nation without single-payer health care. Thus we spend about 20% more per person on health care and we get worse results than other nations. Move the US to single payer and the deficit problem largely vanishes.

Well look at how well that turns out for NO HEALTH care, and when the city of Philadelpia, has more MRI macines than ALL Of Canada, Houston we have a problem.

How would you like to not be able to walk, and have to wait 2yrs for a replacement?.

Or a youg woman who wanted a Mammagram and was told she would have to wait until she was 35-40 before the SINGLE payer system allowed one,decided to cross the border into the US, and get one paid out of pocket and found out she had breast cancer(and had she not done so, SHE would be dead at 26yrs old!).

Or have to wait for 3-6 months just to SEE a Dr!!!.

This is but two examples of those wonderful single payer systems.

The Dr's only get to make X' bucks a year,and then they have been leaving to practice here just to make a decent salary.

Wed, 02/06/2013 - 17:06 | 3221264 Yen Cross
Yen Cross's picture

 Does any sane person think we will have a 15% primary deficit(blue area) in 2022?  That graph is laughable at best!

  Ref: OMB projections of borrowing from public chart.

Wed, 02/06/2013 - 18:29 | 3221494 Poetic injustice
Poetic injustice's picture

Of course, all sane people believe government.

Those who do not believe government data and information, are of course insane and should be dealt with.

P.S. In Soviet Union, most of dissidents were kept in psychiatric wards until they died, usually suicide or from amount of drugs they received.

Wed, 02/06/2013 - 17:11 | 3221279 hooligan2009
hooligan2009's picture

gee, only 5.3 trillion over the next ten years on that interest elephant, what are the interest rate assumptions again?

i was going to say ..gee 70% of the deficit over the next ten years is interest, but then I know that medicare/medicaid spending will be at least that amount over the next ten years...shrugs.

do the feds holdings of tresuries count as debt held by the publc?

Wed, 02/06/2013 - 17:19 | 3221306 LawsofPhysics
LawsofPhysics's picture

"do the feds holdings of tresuries count as debt held by the publc?"

Not sure about that but I do know that, under current law, the tenant of the corporation of the United States is reasponsible for any and all debt owed to the private bank known as The Federal Reserve.

How much longer will the sheeple pay these individuals to coin their money?  Something the constitution says the treasury can do on it's own.  almost 500 billion in interest per year.  That's tax revenue that is paid for nothing in exchange.  Stupid sheep.

Wed, 02/06/2013 - 17:16 | 3221295 Sudden Debt
Sudden Debt's picture

Yeah, BUT THE US CAN PRINT IT'S OWN MONEY AND THAT'S WHY IT'S THE GREATEST COUNTRY ON EARTH!!!!

bbbBooooyaaaa...... fuck yeah.... booo booo ya....

Wed, 02/06/2013 - 18:03 | 3221421 Suisse
Suisse's picture

Do you get to watch Jim Cramer in Belgium?

Thu, 02/07/2013 - 06:09 | 3222437 Sudden Debt
Sudden Debt's picture

Yep, but it's been a few years now since I watched him

Wed, 02/06/2013 - 17:21 | 3221309 rwe2late
rwe2late's picture

 Good grief!

How much longer will sycophants of the elite dominate the media?

If individuals had a private company manage their retirement investments,

and that company poached the fund for extraneous expenses,

and "loaned" the money to itself,

they would be charged with fraud.

But if the government is tasked with managing the retirement funds, and commits the same fraud,

any payout is vilified as "welfare",

and those who involuntarily paid into the deceitful fund are demeaned as parasites.

Wed, 02/06/2013 - 17:21 | 3221314 rejected
rejected's picture

Social Security = Welfare? Blame Seniors because government blew all the money collected for these programs?  That's sooooo americana!

Wed, 02/06/2013 - 17:22 | 3221317 LawsofPhysics
LawsofPhysics's picture

Is it really welfare if you pay for it?  I know there is a big deduction from my employee's pay.

Wed, 02/06/2013 - 17:29 | 3221344 redd_green
redd_green's picture

Its the current lie being passed around after folks discovered they could steal the surplus and blow it on military crap and tax giveaways to their banker buddies.

Wed, 02/06/2013 - 17:23 | 3221320 redd_green
redd_green's picture

I hear you, Rejected.   The claim the social security and medicare are 'welfare' is bull..

Wed, 02/06/2013 - 18:26 | 3221484 Beam Me Up Scotty
Beam Me Up Scotty's picture

Partially true.  There are people that took out way MORE than they put into it.   The easy fix is, you only get out of it what you put in.  After that, you are on your own, you should have saved more for yourself during your life. 

Wed, 02/06/2013 - 17:22 | 3221315 redd_green
redd_green's picture

Social security and medicare are not 'welfare'.  We paid into this horrible corrupt system, and the US government let the Fed inflate the costs to death, and Congress stole and spent the social security surpluses.     You should know better, Tylers.

Wed, 02/06/2013 - 17:23 | 3221322 LawsofPhysics
LawsofPhysics's picture

Precisely, roll the motherfucking guillotines already.

Wed, 02/06/2013 - 17:25 | 3221326 diogeneslaertius
diogeneslaertius's picture

Western Civilization: Destroyed by Design

so that its populations etc. can be integrated into a one world government, no film at 11

 

1913-2013

*double guns* see you all in the FEMA camp

Wed, 02/06/2013 - 17:25 | 3221330 Not Too Important
Not Too Important's picture

"it is arguable that the US will have bigger problems by 2022 than what the debt interest payment is."

Such as thorough saturation of our air, water and food supply with lethal amounts of radioactive isotopes from Japan.

The next fad is 'Sudden Death Syndrome'. Coming to a neighborhood near you, and quick.

Wed, 02/06/2013 - 17:25 | 3221331 Meat Hammer
Meat Hammer's picture

Under which category should "Hookers & Blow" fall?

Thu, 02/07/2013 - 23:45 | 3225060 MeelionDollerBogus
MeelionDollerBogus's picture

either room-service or health-insurance.

At least that's what it looks like on Blankfein's black card.

Wed, 02/06/2013 - 17:27 | 3221336 redd_green
redd_green's picture

Re "So the next time someone say that the US has a defense spending problem and nothing else, show them this chart."  PLEASE, what garbage!    The US wastes trillions and trillions on wars that benefit the military contractors..  We get dead soldiers and China gets the natural resources.  Check out the largest copper mine in Afghanistan, and the oil contracts in Iraq.   And, please with the ridiculous spending analysis: what happened to the 2 1/2 trillion in surplus social security money we PAID into this corrupt system?    This Tyler needs to read some of your own articles.

Wed, 02/06/2013 - 17:36 | 3221362 yogibear
yogibear's picture

The US is broke. Time to close the military bases abroad. World War II has been over for over 60 years.

The US is spending itself into non-existance.

US growth over the years was sent to China. Wall Street built China into a powerhouse. China will eventually crush the US, thanks to Wall Street.

Wed, 02/06/2013 - 18:28 | 3221491 flattrader
flattrader's picture

Yes...because the color of money has no allegiance to national flag colors.

In fact, the more we try to kill each other, the more money they make as their interests are global.

Unfortunately for them, they now have to breathe the same nuclear contaminated air and eat from the same nuclear contaminated food chain as the rest of us.

Wed, 02/06/2013 - 17:43 | 3221381 faustian bargain
faustian bargain's picture

Looks like 'Social Security' is working out just about as well as Keynesianism. Who coulda guessed.

Wed, 02/06/2013 - 17:57 | 3221395 TWSceptic
TWSceptic's picture

Relative to GDP, 'defense' spending is actually historically low in the US. It's the socialist programs that are out of control. Defense spending is also the only legitimate spending for any government. Naturally building a drone army and killing people as if playing some video game has nothing to do with defense. But it does seem to get one a Nobel Peace Prize.

Wed, 02/06/2013 - 18:11 | 3221445 FecundaGoat
FecundaGoat's picture

Guys....Reality Check....I'm a genuine Reagan Republican, but, do we really need 11 aircraft carrier groups??  Our Navy is as big as the next 13 coutries combined!!

Are we expecting an outerspace invasion?

From Wikipedia

The United States Navy (USN) is the naval warfare service branch of the United States Armed Forces and one of the seven uniformed services of the United States. It is the largest navy in the world, with a battle fleet tonnage that is greater than that of the next 13 largest navies combined.[4][5] The U.S. Navy also has the world's largest carrier fleet, with 10 in service, one under construction (two planned), and two in reserve. The service has 318,406 personnel on active duty and 108,718 in the Navy Reserve. It operates 288 ships in active service and more than 3,700 aircraft.[2]

Wed, 02/06/2013 - 18:23 | 3221475 flattrader
flattrader's picture

>>>it was more than offset by a surge in Medicare and Medicaid, as well as Social Security, or, as they are better known, welfare.<<<

What crap Tylers.

Like the subsidies and tax credits to all manner of corporations isn't welfare?  It's only "welfare" when it goes to individuals?

Your constant drum beat against gov payments to individuals as "welfare" (bolded so that we can't miss it) as the source of our spending problems is ridiculous.

For all you seeming financial and econmic sophistication, you still don't "get it" do you?

Wed, 02/06/2013 - 18:45 | 3221542 hardcleareye
hardcleareye's picture

Thank you for posting that sentiment, it is shared.  Over the years I have more than paid (many times, having had a great career with a large salary) for the returns I am now receiving! 

 

 

Wed, 02/06/2013 - 18:32 | 3221501 DYS
DYS's picture

It seems right now that nobody believes that they are ever going to get stuck paying the bill.   It's fast approaching the rediculous level and nobody, including those responsible for running up the bill, can possibly think that it is in the power of the people to repay this debt.   It seems that it (the debt) is more a means to an end, rather than the end itself.  So, instead of focusing on the debt, maybe we should be thinking about what actions might preclude the discharge of it.

Wed, 02/06/2013 - 18:34 | 3221513 Slightly Insane
Slightly Insane's picture

I wish you (the author) would stop using the "Its" in terms of MONEY.  It is not their Money, it is OUR MONEY.  Ours in the collective tax payer group.  The only thing the Government has a monopoly on is FORCE and INSANITY, followed up with a good dose of Stupidity, and BAD Judgement.

 

Wed, 02/06/2013 - 18:45 | 3221552 Quarky Gluon
Quarky Gluon's picture

Just remember that the majority of these so-called government entitlement hand-outs are not going directly to individual citizens but rather are going directly or indirectly to private capitalistic businesses and organizations -- think defense contractors, medical device manufacturers, drug companies, hospitals....  I say that because the article seems to imply the problem lies largely with the creation of the welfare state of individual citizens dependent on government handouts when in reality it is the greater business world that is the most dependent on government payments.  Yes, granted those government payments are presumably for goods and services but none the less, it is the business world that has become the most dependent on the government to pay for their often grossly overpriced products.

Wed, 02/06/2013 - 19:03 | 3221598 DosZap
DosZap's picture

Here is but ONE example of the WELFARE state.

One woman,18 children, by 8 different Sperm donors,gets $700.00 per kid per mo, and free welfare and Medicaid.

Just off the kids she's knocking down $10k a month!.(add the welfare, free food, and Medicaid) why work.

This is just one example of millions that are using the system, and the Gv't just keeps pumping.

They cannot MARRY of they lose Bennies, thank you DEMS!!.

Thu, 02/07/2013 - 06:10 | 3222438 Henry Hub
Henry Hub's picture

I have to say I love these anecdotal stories about welfare recipients living in the lap of luxury. So she's getting ten thousand a month is she? HA HA HA! And there is millions of them HA HA HA! Thanks for giving me my chuckle for the day.

Wed, 02/06/2013 - 19:06 | 3221615 highwaytoserfdom
highwaytoserfdom's picture

RUST

 

The reporting really laughable.   HOW ABOUT OFENCE SPENDING!  I don't know about you but i really do not feel safer....  All this spending for hegemony of economic hit men better known as banksters....  What is this other Defense Civil??   It better be for deodorant because this stinks.         THEY HATE US FOR OUR FREEDOM  one more weapons  of mass destruction for empire war.....     The plan is poverty to supply the legions of Hessian s like the Redcoats..      

DOES

     ANYONE

              ELSE

                  FEEL

                       TAXATION

                                   WITHOUT

                                              REPRESENATION?

WHY DO WE ALLOW MSM O EXTORT BILLIONS TO PUT IN THESE RNC/DNC KleptocratS.

 

Wed, 02/06/2013 - 20:59 | 3221860 Bansters-in-my-...
Bansters-in-my- feces's picture

Hey....!!!
I don't see the cost of Chemtrail spraying.....
So....who is flipping the bill for all those strato jet tankers filling the sky full of fucking crap every day?
Must be costing something.

Thu, 02/07/2013 - 04:32 | 3222403 bunnyswanson
bunnyswanson's picture

http://www.youtube.com/watch?feature=player_embedded&v=mEfJO0-cTis#!

What ...no ... Why are they spraying?

 "While geoengineers maintain that their models are only for the mitigation of global warming, it is now clear that they can be used as a way to consolidate an enormous amount of both monetary and political power into the hands of a few by the leverage that weather control gives certain corporations over the Earth's natural systems. This of course, is being done at the expense of every living thing on the planet. Directed/Produced by Michael J. Murphy and Produced/Edited by Barry Kolsky.. Written by Michael J. Murphy and Barry Kolsky. "

Very well done.  1 hour 15 min

Wed, 02/06/2013 - 21:34 | 3221942 847328_3527
847328_3527's picture

Moar free stuff......

Wed, 02/06/2013 - 22:34 | 3222056 tony bonn
tony bonn's picture

only in a nazi state could anyone state that 1.5 trillion dollar deficits are austerity.....only in a nazi state could anyone claim that 1.5 trillion usd deficits are the true deficit when it is vastly larger.

Thu, 02/07/2013 - 02:53 | 3222373 Peter K
Peter K's picture

Actually, Weimer was before the Nazi's. After the Nazi's were elected (unlike Monti), they came in and actually fixed the problem. Just sayin......

Thu, 02/07/2013 - 11:36 | 3222985 HeatMiser
HeatMiser's picture

And the only difference between Wiemer and the Nazi's was the people running the banks. Just saying.

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