Cost of Government

[apdxyk]

I do not really have an opinion, but found the table interesting. (Just skip the travel part)

https://www.rogueeconomics.com/postcards-from-the-fringe/the-real-cost-of-running-the-government/

 

[SunTrader]

Failed to mention the massive "Defense" Dept budget somehow. And oh that unfunded $1T tax cut for the super rich but poor old grandma's SSI check is bankrupting Amuuuuurica.

Keep traveling.

Also anyone else notice the irony of the writer talking about sparse accommodations in that particular National Park? Guess what genius, better accommodations either is paid by taxpayers or by more added to the national debt.

 

[IAS_LLC]

Failed to mention the massive "Defense" Dept budget somehow. And oh that unfunded $1T tax cut for the super rich but poor old grandma's SSI check is bankrupting Amuuuuurica.

Keep traveling.

Also anyone else notice the irony of the writer talking about sparse accommodations in that particular National Park? Guess what genius, better accommodations either is paid by taxpayers or by more added to the national debt.

Dod was the third line item?

 

[SunTrader]

Dod was the third line item?

Yes in the graph. Where is it mentioned in the text? Which tells me what he choose to emphasize? Hey its his blog he can do what he wants, right. Just found it curious.

And what I have always found with those who have a grip about federal spending. Yap about entitlements. Even though for instance SSI is paid for by the worker/employer and NOT the fed gubmint.

As for DOD looks like they will have to spend another billion or two (easy peazy) for replacement of this one. Note story says $761 million - that was cost when it was built. Specs upgraded and in current dollars 2 to 3 times higher is estimate, at least, for new one:

https://www.npr.org/2020/07/13/8903...-fire-aboard-navy-warship-docked-in-san-diego

 

[apdxyk]

Yes in the graph. Where is it mentioned in the text? Which tells me what he choose to emphasize?

in the text:
====================
Notice the first three – Medicare, Social Security, and the armed forces.

These three are untouchable. They’re huge open-ended, unfunded liabilities that the government will have to pay for years to come.

Economists call these “off-balance-sheet liabilities” because they haven’t been recognized in the national debt yet. I’ve seen estimates that these unfunded future liabilities could be as high as $70 trillion.

The fourth is the interest on the national debt.
=====================

 

[SunTrader]

Ok so he did, so he did.

But why the blog post to begin? He never mentioned his suggestions/solutions. Looks to me as just more outrage which almost always is done by someone nowadays like me - a white person.

SSI is unfunded only in the out years. They always cry the house is on fire and then somehow find a way to rejigger the thing.

And yes there - "There’s no stock or bond for inflation." - TIPS Bond though it currently pays chit.

 

[piezoe]

I do not really have an opinion, but found the table interesting. (Just skip the travel part)

https://www.rogueeconomics.com/postcards-from-the-fringe/the-real-cost-of-running-the-government/

This reflects the typical citizens understanding of government finances based on their own personal finances. Can't blame them for thinking this way. But of course since government is the source of money, the governments finances are very different from our personal finances.