Saturday, February 05, 2011

Chart Week: Entitlements and the Federal Deficit

Any questions?









Note that the deficit projection (circa 2006) is absurdly optimistic: the CBO projections assumed strong uninterrupted GDP growth for decades to come. Reality is shaping up to map an exponential curveset much earlier than the second chart projects.

For instance, deficits in the Social Security budget that weren't supposed to occur until 2025 are already being hit in 2011:

To Fix Social Security, First Ask Why It Is Deep in the Red
(January 18, 2011)

The Fraud at the Heart of Social Security
(January 17, 2011)

The notion that entitlements and deficits that are both tracking exponential curves is sustainable is baseless.


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Posted by Charles Hugh Smith at 8:22 AM

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