The President’s budget for 2010 totals $3.55 trillion. Percentages in parentheses indicate percentage change compared to 2009. This budget request is broken down by the following expenditures:
Mandatory spending: $2.184 trillion (+15.6%)
$695 billion (+4.9%) – Social Security
$453 billion (+6.6%) – Medicare
$290 billion (+12.0%) – Medicaid
$0 billion (−100%) – Troubled Asset Relief Program (TARP)
$0 billion (−100%) – Financial stabilization efforts
$11 billion (+275%) – Potential disaster costs
$571 billion (−15.2%) – Other mandatory programs
$164 billion (+18.0%) – Interest on National Debt
US receipt and expenditure estimates for fiscal year 2010.Discretionary spending: $1.368 trillion (+13.1%)
$663.7 billion (+12.7%) – Department of Defense (including Overseas Contingency Operations)
$78.7 billion (−1.7%) – Department of Health and Human Services
$72.5 billion (+2.8%) – Department of Transportation
$52.5 billion (+10.3%) – Department of Veterans Affairs
$51.7 billion (+40.9%) – Department of State and Other International Programs
$47.5 billion (+18.5%) – Department of Housing and Urban Development
$46.7 billion (+12.8%) – Department of Education
$42.7 billion (+1.2%) – Department of Homeland Security
$26.3 billion (−0.4%) – Department of Energy
$26.0 billion (+8.8%) – Department of Agriculture
$23.9 billion (−6.3%) – Department of Justice
$18.7 billion (+5.1%) – National Aeronautics and Space Administration
$13.8 billion (+48.4%) – Department of Commerce
$13.3 billion (+4.7%) – Department of Labor
$13.3 billion (+4.7%) – Department of the Treasury
$12.0 billion (+6.2%) – Department of the Interior
$10.5 billion (+34.6%) – Environmental Protection Agency
$9.7 billion (+10.2%) – Social Security Administration
$7.0 billion (+1.4%) – National Science Foundation
$5.1 billion (−3.8%) – Corps of Engineers
$5.0 billion (+100%) – National Infrastructure Bank
$1.1 billion (+22.2%) – Corporation for National and Community Service
$0.7 billion (0.0%) – Small Business Administration
$0.6 billion (−14.3%) – General Services Administration
$19.8 billion (+3.7%) – Other Agencies
$105 billion – Other
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Last week the “financial Reform” bill passed Congress … but there was no mention of the 2 complicit GSE’s, Freddie Mac and Fannie Mae. They have cost $160B so far and will likely cost $1 TRILLION to clean up.
And the people that wrote this new bill?  The same people who DENIED over and over again that the GSE’s were just fine:
Rep Richard Baker (R-LA) asked in 2003 for more regulation of these corrupt giants. Â Watch Rep Maxine Waters (D-CA) say “We do not have a criss at Freddie Mac, and particular at Fannie Mae, under the outstanding leadership of Franklin Raines” [later convicted of fraud, a current Obama advisor] .
Watch Rep Gregory Meeks (D-NY) say “there is nothing wrong”, “we don’t need it [regulation]“. Rep Lacy Clay (D-MO) called the hearings a “political lynching of Franklin Raines” (who happens to be an African American).  Rep Barney Frank (D-MA) says “I don’t see anything in this report that raises safety and soundness problems.”
Watch this if you can stomach the lies!
These same blockers received campaign donations (Obama was #1) from these GSE’s.  How can we believe anything will change?  I don’t
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An excellent and funny explanation of world governments bailout logic (what little there is of it!)
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- Taxes Eat 42% of Canadians' Income - Can Happen in the USA Here you go, from the Fraser Institute in Canada. The Canadian Consumer Tax Index tracks the total tax bill of the average Canadian family fromÂ...
Here you go, from the Fraser Institute in Canada.
- The Canadian Consumer Tax Index tracks the total tax bill of the average Canadian family from 1961 to 2009. The total tax bill of the average Canadian family, including all types of taxes, has increased by 1,624 percent since 1961.
- Taxes have grown much more rapidly than any other single expenditure for the average Canadian family. In contrast to the jump in taxes, spending on shelter increased by 1,198 percent, food by 559 percent, and clothing by 526 percent from 1961 to 2009.
- In 1961, the average family had an income of $5,000 and paid a total tax bill of $1,675 (33.5 percent). In 2009, the average Canadian family earned an income of $69,175 and paid total taxes equaling $28,878 (41.7 percent).
- The average Canadian family now spends more of its income on taxes than it does on the basic necessities such as food, shelter, and clothing. In 1961, the average family used 56.5 percent of its income on basic necessities, while only 33.5 percent of the family’s income went to taxes. In 2009, the proportion of income consumed by taxes had increased (to 41.7 percent), while the fraction of income spent on food, shelter, and clothing had dropped dramatically (to 37.1 percent).
Why Canada?  Everyone that I meet in the USA says: “Why can’t we have the economy (motored by oil), the health care (run by governments) and the economic stability (Run by excessive taxation) like they have in your home country of Canada?”
Canada is another one of the “canaries in the coal mine” about the creeping socialism all over the world.  Greece, Spain, Italy … somewhere down the line is Canada and the USA.
The report continues on …
Including deferred taxes (deficits) means the tax bill of the average Canadian family has increased by 1,793 percent since 1961.
Yikes! Â I just don’t get it! Â Governments all over have been spending FAR MORE than they can afford, racking up, especially, future pension liabilities for everyone …. then when the economy collapses, we do a bail-out.
Imagine what is going through the mind now of an average frugal German .. who is asked to bail out Greece.  Greeks are living far beyond the means … but will they cuts liabilities? not when Germans will send them cash.
I chatted with a friend last evening who told me that he had a huge sum in municipal bonds. I cautioned him, noting that Central Falls RI went bankrupt this week, and many states SHOULD follow.  His response: “Oh, the Federal government will just bail them out of the bonds get in trouble.”  He said this after a 20 minute rant on the size and invasiveness of government.
We all may be capitalists, but but we like the nanny state.  Until we throw out the bums who would spend and tax us to oblivion, and change this attitude … we are screwed.  But, on the horizon, I expect we will see more Chris Christie’s — honest, straight-talking politicians who aren’t in government to line their own pockets.
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I can’t add anything more than the following video.  Christie for President!!!
| Gov Christie calls S-L columnist thin-skinned for inquiring about his 'confrontational tone' |
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