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Annual federal tax revenue is just under $4T[1] Keep in mind a lot of our "debt" is future obligations, which makes comparing to present day revenue kind of us
by nkozyra 10y ago
Annual federal tax revenue is just under $4T[1]
Keep in mind a lot of our "debt" is future obligations, which makes comparing to present day revenue kind of useless.
[1] http://www.usgovernmentrevenue.com/total http://www.usgovernmentrevenue.com/total
- knodi123 10y ago?? All Debt is a "future obligation". That's what debt means.
- nkozyra 10y agoA lot of debt represents expenses already incurred instead of budgeted future expenses. Congress essentially mandated savings for future expense.
- knodi123 10y agowhoa, so a lot of our national debt is just obligatory future spending, and we add it to the total figure because we don't have a choice about spending that money in the future? I honestly didn't realize that!
- nkozyra 10y agoWell we do have a choice. It usually manifests in suggestion of extending the retirement age.