Below are two charts from Karl Denninger that tell the true story. The projected chart for 2020 will not happen because the entire rotting edifice will implode before 2020. Math is hard, especially for lying politicians and corrupt government bureaucrats. To read his entire article click here:
http://market-ticker.org/akcs-www?post=211140
In 1980 this is what the Federal Budget looked like:
Health Care (all programs) was $55.3 billion.
In 2011 the Federal Budget looked like this:
And Health Care spending was $858.2 billion.
That is approximately a 9.3% annualized growth over that period of time.
Note that as a percentage of the budget Pensions (that is, Social Security) and Defense did not materially change. Health care exploded.
This is where the problem is.
This is where the Democrats and Republicans and Libertarians don’t want to get into details.
But it is where we must, because if we do not this growth in Health Care spending will absolutely, with certainty, destroy the Federal Budget and our government.
GoldenTool says:
Can I get a graph of the budget from 1980 vs the amount of interest in debt the gov pays in 2012?
Thanks.
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6th September 2012 at 8:53 am
Administrator says:
Link to Treasury showing interest on national debt:
http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm
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6th September 2012 at 9:03 am
Administrator says:
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6th September 2012 at 9:05 am
GoldenTool says:
Thank you Admin. So our interest from debt is almost the same as the entire budget of 1980. We’ve come a long way in 30 years.
Why did the graphs/images break above?
“Do unto others.”
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6th September 2012 at 9:09 am
Administrator says:
I think the website they come from is down.
If you click the link, you now get a message that the website is suspended.
VERY INTERESTING
Well-loved. Like or Dislike:
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6th September 2012 at 9:15 am
Administrator says:
“Look back over the past, with its changing empires that rise and fall, and you can foresee the future, too.”
Marcus Aurelius
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6th September 2012 at 9:21 am
AWD says:
The Medicare FSA, fronted by obese, sick, on-12-meds, functionally useless boomers will destroy this country. Most cost taxpayers millions per year and have zero quality of life. They have destroyed their health, and are scooter-riding zombies sucking as much cash as they can. And politicians keep piling on the spending. There has to be some limit. You destroyed your health? Tough shit.
boomer FSA
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6th September 2012 at 11:50 am
Kill Bill says:
I have a feeling that boomer in the wheelchair is one AWDs patients.
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6th September 2012 at 12:50 pm
Kill Bill says:
Of course health care costs are going up for the government because they are going up up up everywhere
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6th September 2012 at 12:57 pm
TeresaE says:
I was talking to an insurance agent (last ditch effort to change insurers and not cancel coverage) and we talked about the union plans.
She, under her breath, said that small to mid sized business pay between 300-500% more for coverage than the unions. We also have shittier plans.
There’s something you don’t see the Pols trying to fix.
Also, USA Today ran an article a few months back, how many here realize that federal pensions (now throw in state & city) are LARGER than the entirety of SS. Or, how the cost of federal retiree benefits is nearly as large as medicare?
What in the hell people, we have been lied to for decades and even now, as the wheels come off the bus, we are still being lied too.
You absolutely cannot “fix” something if you refuse to face the real problems.
The real problem is NOT that there are millions without health insurance. Thousands of pages of regulation later, the underlying problem is ignored while the real problems are multiplied.
It should be legal to shake our fellow Americans until their teeth start to vibrate out – or they wake the hell up.
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6th September 2012 at 2:44 pm