$$$: The Federal budget on the head of a pin …

Nice recap courtesy of JP Morgan Wealth Management …

Easy facts to remember:

  • Feds take in about $2.5 trillion in taxes
  • Deficit is just over $1.1 trillion
  • Spending is over $3.6 trillion

Note that Social Security & Medicare spending is about twice what’s taken in via “Social Insurance” … aka. “payroll taxes”.

Also note how big that dashed Borrowing box is.

We don’t have a spending problem.

Yeah, right.

image

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Chart Tip: Being picky, but they should have put Social Insurance at the bottom of the sources’ stack so that it lined up with Social Security and Medicare.

Every list should have a logical order … and that order is rarely the order that you thought of things.

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One Response to “$$$: The Federal budget on the head of a pin …”

  1. Chris Says:

    Agreed on the stacking order and would also have matched the colors for the etitlement programs to highlight the fact that payroll taxes don’t cover their costs.

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