@Jerry, first of all, you're an idiot. The Mises Institute and the Koch brothers do not really get along. Second, did you intentionally leave off 7/1/13 and 10/1/13? Also, where did you get those numbers?
Jerry may be ignorant now, but if he continues to read EPJ and LRC, in approximately 2 years we will have a convert. At least that is how long it took me to wake up.
This of course ignores two key factors. The first being the ever growing off balance sheet obligations of certain entitlement programs. The second, and possibly more immediate factor, is that the interest paid on the national debt is at a secular low due to Federal Reserve interference in the market for debt. If/When this interference is lifted the interest balloons and Fedgov detonates overnight. This Federal Reserve action is having the affect of rapidly depreciating the currency while it is in operation, and thus when that additional factor is considered it becomes obvious why so many Americans are feeling burdened by the current government regime.
Is this guy stupid or just trying to score points with the Koch Bros? Govt spending has fallen.
ReplyDeleteReal Government Consumption Expenditures & Gross Investment (GCEC96)
2010-01-01 3084.280
2010-04-01 3106.209
2010-07-01 3103.533
2010-10-01 3071.524
2011-01-01 3012.042
2011-04-01 3002.425
2011-07-01 2983.236
2011-10-01 2971.654
2012-01-01 2961.293
2012-04-01 2963.452
2012-07-01 2988.760
2012-10-01 2938.804
2013-01-01 2907.367
2013-04-01 2904.477
Interesting you would resort to calling someone else stupid, when in a recent post you demonstrated abject ignorance of basic accounting.
Delete@Jerry, first of all, you're an idiot. The Mises Institute and the Koch brothers do not really get along. Second, did you intentionally leave off 7/1/13 and 10/1/13? Also, where did you get those numbers?
ReplyDeleteHe got them from the St. Louis Fed. The data go only that far, since the federal government's fiscal year runs from 10/1 - 9/30.
DeleteJerry may be ignorant now, but if he continues to read EPJ and LRC, in approximately 2 years we will have a convert. At least that is how long it took me to wake up.
DeleteSaid numbers are at odds with the CBO, which reports:
Delete2007 $2.8 trillion
2008 $2.9 trillion
2009 $3.1 trillion
2010 $3.6 trillion
2011 $3.8 trillion
2012 $3.7 trillion
2013 likely $3.8 trillion
This of course ignores two key factors. The first being the ever growing off balance sheet obligations of certain entitlement programs. The second, and possibly more immediate factor, is that the interest paid on the national debt is at a secular low due to Federal Reserve interference in the market for debt. If/When this interference is lifted the interest balloons and Fedgov detonates overnight. This Federal Reserve action is having the affect of rapidly depreciating the currency while it is in operation, and thus when that additional factor is considered it becomes obvious why so many Americans are feeling burdened by the current government regime.