A Governmental Statistics Chart Which Needs To Be Watched
by Joel Hendon(564)
The government maintains a wide conglomerate of charts and statistics. Many are difficult to analyze and understand by those of us with limited education and knowledge. However, there is a chart which even I can read and comprehend and so can you. It is a chart maintained by the U.S. Department of Commerce, Bureau of Economic Analysis which shows the governments receipts and expenditures dating from 1999 through the first quarter of this current year (2009).
Each quarter shows three different colored vertical lines thus: lll blue first, red, then black. The blue represents the receipts for that quarter, expenditures in red, and black shows the excess or deficit for the quarter. It is interesting to follow. The first ten quarters shows that we actually took in more revenue than we spent, we had a huge debt as always, but we did not go further in debt for those ten quarters. Then you see where the war in Iraq plus other expenditures brought us into slight deficit spending. This deficit grows quarterly until the third quarter of 2003 when it reached approximately half a billion dollars. The Bush tax cuts, vilified so harshly by the liberals began to kick in and just look what the quarterly receipts did. They grew approximately one trillion dollars from it's lowest point on this chart and once again the deficit spending almost disappeared.
Then began the present recession and you can see the last four quarters, the revenue has dropped and the deficit spending has taken a leap. The liberals and our president like to charge Bush with the start of this recession. Bush did allow congress to spend far too lavishly, but the primary, and probably THE cause of this economic mess actually started before Bush was elected the first time. Barney Franks and Chris Dodd, under Clinton, put massive pressure on Fannie Mae, Freddie Mac and other financial institutions to allow loans of more than properties were worth, to people unqualified and unable to repay the mortgages. And it is true, the Bush administration did nothing to correct that.
The interesting part of this chart and what everyone needs to watch, is our deficit spending. The Obama administration has already put us farther into debt (In six months) than all the previous presidents combined!!
His present goals of exorbitant spending and plans for heavy taxation will show tremendous drops in GDP, in governmental receipts, and extreme rises in the deficit spending. And the recession will grow into depression. This one chart is proof of what conservatives have always said, that of lowering taxes, always boosts spending by all from poor to the wealthy and thereby increases federal income simply from that expanded GDP. You are encouraged to visit the link and study this chart for yourself.
http://www.bea.gov/national/nipaweb/GovView.asp
Webgazine Columnist.
Article submitted Tuesday, July 28, 2009 & read 158 times.
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» left by robert melaccio sr (1 year 34 days ago.)
Joel, once again a rfeally good article howerv, i cannot help but continue to think of the word delusion. I was pondering when Jesus walked the earth. Now the religious of His day had all the prophecy they could ever imngaine to have, yet jesus had to die, it was planned and ordained. So it is with this generation, a strong delusion, so it is as in the days of Noah. The press and media scream to it every day, unawares of truth becuase in the Last days truth will not be found. So while i encourage you to write, you like me, understand, the great majority will first, nevr comrehend, secondly never believe. That is why we rite here on this site while all the rest writeto evrything else of the world that has no lasting value. No I did not say i look down on it, I just stated no lasting or true value. best wishes my friend and i hope you feel betetr. I wish ic an say the same but I am still struggling in many ways. Robert
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» left by Joel Hendon(564)
Thank you Robert, for a great comment and accurate as usual.
I'm much better physically, but still quite weak. I don't think I ever had such a problem regaining my strength. Of course, I was never this age before. :o)
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