Financial Picture of the U.S. Inc.

From Mish’s Global Economic Trend Analysis:

Inquiring minds are digging deep into a 266 page PDF called USA Inc. a basic summary of America's financial statements.

It is loaded with stunning graphs and charts on Social Security, Medicare, Medicaid, TARP Bailouts, Fannie Mae and Freddie Mac, military spending, tax revenues, and various projections. Here are a few images, but please give the document a closer look when you have a few moments.

By 2025, entitlements plus net interest payments will absorb all – yes, all – of USA Inc.'s revenue, per CBO.

Less than 15 years from now, in other words, USA Inc. – based on current forecasts for revenue and expenses - would have nothing left over to spend on defense, education, infrastructure, and R&D, which today account for only 32% of USA Inc. spending, down from 69% forty years ago.

This critical juncture is getting ever closer. Just ten years ago, the CBO thought federal revenue would support entitlement spending and interest payments until 2060 – 35 years beyond its current projection.

http://globaleconomicanalysis.blogspot.com/2011/03/usa-incorporated-grim-look-at-financial.html