- Joined
- May 25, 2018
- Messages
- 7,074
- Reaction score
- 4,756
- Location
- Lebanon Oregon
- Gender
- Male
- Political Leaning
- Liberal
Our generation really has to make an effort to clean up our own mess before we die off. The U.S. federal budget deficit for fiscal year 2018 is $352 billion. FY 2018 covers October 1, 2017 through September 30, 2018. T U.S. government spending of $4.268 trillion is higher than its revenue of $3.916 trillion. (Source: 2018 Budget.) If we managed to pay that down and then if we make a hefty dent in repairing the bridges, highways, roads, replacing the corroded piping in our sewage systems, water supply systems, redredging our seaports etc that we used and never insisted get attention. Its not like we have always been this negligent. We have allowed our spending levels on infrastructure to fall to their lowest level since 1947.
As for the states, here's is just a few examples , they are leaving our youth
#1, Rhode Island
Debt 2009: $9.2 billion
Projected 2012 Budget Shortfall: $290 million
GDP 2009: $47.8 billion
Debt/GDP Ratio: 19.19%
Unfunded Pension Liabilities: $4.4 billion (39%)
Unfunded Health Care & Other Liabilities: $788 million (100%)
#4, Illinois
Debt 2009: $57.0 billion
Projected 2012 Budget Shortfall: $15.0 billion
GDP 2009: $630.4 billion
Debt/GDP Ratio: 9.04%
Unfunded Pension Liabilities: $54.4 billion (46%)
Unfunded Health Care & Other Liabilities: $39.9 billion (100%)
#8, Indiana
Debt 2009: $23.7 billion
Projected 2012 Budget Shortfall: $270 million
GDP 2009: $262.6 billion
Debt/GDP Ratio: 9.03%
Unfunded Pension Liabilities: $9.8 billion (28%)
Unfunded Health Care & Other Liabilities: $442 million (100%)
#13, South Carolina
Debt 2009: $15.3 billion
Projected 2012 Budget Shortfall: $877 million
GDP 2009: $159.6 billion
Debt/GDP Ratio: 9.59%
Unfunded Pension Liabilities: $12.1 billion (30%)
Unfunded Health Care & Other Liabilities: $8.6 billion (98%)
https://www.thedailybeast.com/50-states-in-debt
Cities that are bankrupthttp://www.governing.com/gov-data/municipal-cities-counties-bankruptcies-and-defaults.html "
The majority of filings have not been submitted by bankrupt cities, but rather lesser-known public authorities and other narrowly-defined special districts throughout the country. In Omaha, Neb., more than a dozen sanitary districts have filed for bankruptcy, accounting for nearly a quarter of all Chapter 9 filings since 2010.It's also important to note that only about half of states maintain laws authorizing municipal bankruptcy. "
Face it, our generation has been completely selfish and irresponsible. We took the money, spent it all and left the credit card bill sitting on the table, and now we act entitled to walk away and let it sit there in a house we left in dilapidated condition. The United states is leaving the equivalent of a Crack House to our kids and pretending they are screwing up because they are not interested in mowing the lawn in front.
As for the states, here's is just a few examples , they are leaving our youth
#1, Rhode Island
Debt 2009: $9.2 billion
Projected 2012 Budget Shortfall: $290 million
GDP 2009: $47.8 billion
Debt/GDP Ratio: 19.19%
Unfunded Pension Liabilities: $4.4 billion (39%)
Unfunded Health Care & Other Liabilities: $788 million (100%)
#4, Illinois
Debt 2009: $57.0 billion
Projected 2012 Budget Shortfall: $15.0 billion
GDP 2009: $630.4 billion
Debt/GDP Ratio: 9.04%
Unfunded Pension Liabilities: $54.4 billion (46%)
Unfunded Health Care & Other Liabilities: $39.9 billion (100%)
#8, Indiana
Debt 2009: $23.7 billion
Projected 2012 Budget Shortfall: $270 million
GDP 2009: $262.6 billion
Debt/GDP Ratio: 9.03%
Unfunded Pension Liabilities: $9.8 billion (28%)
Unfunded Health Care & Other Liabilities: $442 million (100%)
#13, South Carolina
Debt 2009: $15.3 billion
Projected 2012 Budget Shortfall: $877 million
GDP 2009: $159.6 billion
Debt/GDP Ratio: 9.59%
Unfunded Pension Liabilities: $12.1 billion (30%)
Unfunded Health Care & Other Liabilities: $8.6 billion (98%)
https://www.thedailybeast.com/50-states-in-debt
Cities that are bankrupthttp://www.governing.com/gov-data/municipal-cities-counties-bankruptcies-and-defaults.html "
The majority of filings have not been submitted by bankrupt cities, but rather lesser-known public authorities and other narrowly-defined special districts throughout the country. In Omaha, Neb., more than a dozen sanitary districts have filed for bankruptcy, accounting for nearly a quarter of all Chapter 9 filings since 2010.It's also important to note that only about half of states maintain laws authorizing municipal bankruptcy. "
Face it, our generation has been completely selfish and irresponsible. We took the money, spent it all and left the credit card bill sitting on the table, and now we act entitled to walk away and let it sit there in a house we left in dilapidated condition. The United states is leaving the equivalent of a Crack House to our kids and pretending they are screwing up because they are not interested in mowing the lawn in front.