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Total government revenue (all levels of government combined) comprises 32.29% of the nation's entire GDP. In simple terms, this means that for every dollar spent or invested, the government takes about 33 cents, one third. That sounds like an awful lot of our hard-earned money going to the government to me, far too much really, but liberals like Pelosi keep telling us the government doesn't have enough revenue. How is that possible ? It sounds crazy, given all the money the government takes from us already.
The alleged revenue shortage is possible because total government spending comprises 41.38% of GDP. Doesn't this make it obvious that the deficit/debt problem lies with too much spending, not a lack of revenue ? It should. Total government spending thus far this year comes to $6.46 trillion and counting. It seems like that should be enough to fix our bridges, but I guess not, according to Obama's State Of The Union (SOTU) address.
It has always amazed me that liberals believe our deficits and debt come from a lack of revenue, doubly so when federal spending to GDP on Obama's watch has been higher than at any time outside World War II. Liberals rebut statistics like mine with their "but federal revenue is at a 50-year low !!!" argument, but that argument is disingenuous. Revenue is low now due to high unemployment rates, but the unmistakable trend of federal revenue to GDP over time shows the government taking an ever bigger bite out of the economy. WIth the exception of the recession-induced crash, federal revenue to GDP has been almost a straight line upward. When liberals complain about revenue being low, what they are really complaining about is that revenue is not at an all-time high compared to GDP.
In FY2013, this year, the White House Office Of Management And Budget estimates federal spending to be around $3.8 trillion. To put that in perspective, five years ago, in FY2008, federal spending was $2.98 trillion. In five short years, federal spending has increased by over $900 billion per year, and liberals are telling us we have a revenue problem ??? Not hardly. I was born, but it wasn't yesterday. We have a spending problem. On this point. liberal propaganda outfits like ThinkProgress try to distort reality by writing things like "Under Obama, Government Spending Has Grown More Slowly Than Any President Since Eisenhower". Nearly a trillion dollars more in federal spending than five short years ago, and ThinkProgress is lauding Obama for holding spending DOWN !!! Welcome to the Twilight Zone.
Like I said, the way liberals detach spending from deficits/debt amazes (except for defense spending. Liberals acknowledge that part of the problem, because it fits their agenda).
Cue President Obama. In his SOTU, Obama said, "Nothing I’m proposing tonight should increase our deficit by a single dime." Then the President proposed TWENTY NINE NEW PROGRAMS, nearly all of which would increase spending. Obama says all these programs are fully paid for...but how is that possible when our EXISTING federal spending isn't paid for ??? It isn't possible. We alreadiy have a fricking trillion dollar federal deficit !!! Nothing new Obama proposes is paid for. More new federal spending only perpetuates the enormous deficits and keeps our skyrocketing $16.5 trillion debt growing at an alarming rate.
As usual, our "journalists" in the mainstream media won't call Obama on his sleight-of-hand (perhaps because it would have a "disparate impact" on black Presidents). They are too busy pondering more important matters, like whether Sen. Marco Rubio's (R-FL) political career is over because he took a drink of water during a speech. That's how serious are today's journalists..."ooh, look at Michelle's new hairdo and designer dress !!! Resplendent. Now, back to you, Wolf, for more on Rubio's WATER-gate, tee-hee". What a bunch of children.
Update 2/18/13 - In my post, I wrote, "the unmistakable trend of federal revenue to GDP over time shows the government taking an ever bigger bite out of the economy." This is a mistake. I should have written that "total government revenue to GDP" shows the government taking an ever bigger bite, as the graph at the link illustrated. Mea culpa.