Friday, December 7, 2012

Who Owns the U.S. National Debt...Really?

With the 2012 presidential elections now in the history book, and all of the heated rhetoric about spending the country out of existence has subsided (relatively speaking), it seems were are right back where we started from before the dog-and-pony leading up to November 4th. Despite the mountain-top yelling about how China owns so much of the nation's debt, Washington doesn't seem to have prioritized action, choosing instead to prioritizing politics.  President Obama and the Democrats have staked out a position on the move toward curtailing government spending.  The Republicans have done so as well. And wouldn’t you know it…they don’t agree! Shocking.
At the current rate of impasse, the Mayan calendar prophesies will have kicked in and made all of this talk about "fiscal cliffs" moot before either party can focus on the needs of the country rather than their individual voting blocs. Yes, all know that current levels of government spending are unsustainable and unpayable. And yes, many of us rank-and-file every Americans know the solution is for simply for both parties to just put everything—every government program—under the microscope as a potential sacrifice on the altar of budget-cutting (or at least budget restricting). But as usual, many of us (and our elected politicians) would rather be “right” as opposed to being happy when it comes to political and social policy. Again, shocking.
At any rate, I thought I would just take a moment and put government spending into perspective, and showcase where government spending goes, and expose just which entity (or group of entities) receives the most government spending.

 Click on the graph to enlarge


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