Powerline today has an analysis of the USA as if it were a firm applying for funds from Kleiner, Perkins. The presentation has a number of slides, some of which I will reproduce here. The link to the full presentation doesn’t work, unfortunately.
[Jonathan adds: Click on the large charts to display them at full size.]
The net worth of the US is on the right side scale. The trend is pretty obvious. The small improvement is probably a sign of some recovery in the past year.
Spending has followed historical events, such as World War II. The trend, however, is not good. After 1930, spending on entitlements began and has grown out of control.
Defense spending is blamed by leftists but there has not been a lot of defense spending since Vietnam.
Taxes have followed a steady trend line until Obama was elected. The sharp rise has not helped as costs far outstrip revenue.
What, then, is the problem ?
Entitlements plus interest alone will exceed revenue by 2027. That’s 16 years from now.
The left wants to raise taxes.
How high must tax brackets go ?
How do we compare to other countries ?
Better than some and not so good as others.
Can the left stop denying reality and start to discuss it?
Here is the response I got:
I am certain that not everyone here is as stupid as I am.
I try very hard to keep factual information from you. To wit, here is some bad analysis of our fiscal situation.
Of course, I could be wrong and I’m not this dumb. But probably not.
[fixed it for you. If you’re not even going to acknowledge our good faith attempts to allow you to comment while simply requiring that you not insinuate everyone’s stupidity then we can only assume you don’t mind the same treatment in return – mod.
Posted by: Mike K
They constantly use fake versions of my signature, which of course the moderators could stop. It fits their pattern. Modifying my comments is also standard and they actually think this is clever.
No, I am not optimistic.