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Scott Anderson
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I am a bored corporate accountant who has been following the debt/deficit issue personally for nearly a decade. A few years back, looking for a better understanding of the US deficit, I stumbled across the Daily Treasury Statement, which is essentially a daily cash flow statement for the US... More
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US Daily Deficit
  • About That Revenue Problem 0 comments
    Dec 10, 2012 12:53 PM

    (click to enlarge)

    Through 11 months, 2012 is set to become the "best" revenue year ever….despite the payroll tax cut, the AMT patch, Doc Fix, the "Bush" tax cuts ect…. Who would have known? Nobody wants to tell the truth, so I'll take a swing at it. The truth is that our economy has become dependent on government deficit spending to the tune of about 1.1T per year. Nobody thinks this is sustainable, but everybody thinks that if we take it away….great depression 2….and nobody wants to get pinned with that one when the history books are written. Fixing the problem today means instant depression…fixing it later means an even worse depression at some unknown date in the future. Rock…meet hard place.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

    Themes: economy
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