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May 31, 2007
Annual Budget Deficit Goes Up
Despite the approximately $95 billion increase in tax receipts to the last quarter of 2006, the government still managed to increase the annual budget deficit by almost $96 billion during this same period. It should have decreased and this is troubling.
Looking at the big ticket items: Social Security and other entitlement programs like AFDC, Unemployment Insurance, etc. increased by $55 billion over last quarter. The cost of running various government programs increased by $34 billion. Interest on the national debt increased by $30 billion.
What will happen in 2017 when Social Security receipts will no longer be in surplus? What will they do in 2025 when the population hits 350 million? Are the politicians paying attention or are they partying on enjoying their paychecks and benefits knowing someone else in ten years has to deal with the problem they ignored? Is there no one at the controls? The current leadership in Congress and the Administration is considering allowing the population to continue increasing by immigration, does no one consider that government costs must increase as population increases? Are they so foolish as to believe by continually increasing the population to increase the number of tax payers that they can keep ahead of the budgetary train wreck to come as is done in a Ponzi scheme? This is the same magical thinking concerning energy consumption in this country. How can we have a rational energy policy, budgetary policy or any other policy for that matter by ignoring the consequences of population increase by immigration?