While I agree that at this moment the US isn't in danger, its just around the corner.
The US government is borrow twice its yearly income every year and its tax base is shrinking (baby boomers are retiring in huge numbers over the next 5 years) whiles its expenses are shooting up (Medicare, Social Security and all those fun wars) to a level that is unsustainable.
As of last year almost 25% of total revenue went into Social Security (851 billions) and 18% into Defense spending (615 billions) and 7% (229 billion) went into interest payments, note that's interest and not capital debt repayment.
The US government borrowed a total of
$3.5 trillions last year alone on an income of
$2.8 trillions with a total debt of
$13 trillions...just do some math on those numbers and if that doesn't worry you then your smarter then I.
Here's some delicious copy/pasta:
- Social Security: Last year, 24 percent of the budget, or $851 billion, paid for Social Security, which provided monthly retirement benefits averaging $1,329 to 39.0 million retired workers in December 2014. Social Security also provided benefits to 2.3 million spouses and children of retired workers, 6.1 million surviving children and spouses of deceased workers, and 10.9 million disabled workers and their eligible dependents in December 2014.
- Medicare, Medicaid, CHIP, and marketplace subsidies: Four health insurance programs -- Medicare, Medicaid, the Children's Health Insurance Program (CHIP), and Affordable Care Act marketplace subsidies -- together accounted for 24 percent of the budget in 2014, or $836 billion. Nearly two-thirds of this amount, or $511 billion, went to Medicare, which provides health coverage to around 54 million people who are over the age of 65 or have disabilities. The remainder of this category funds Medicaid and CHIP, which in a typical month provide health care or long-term care to about 70 million low-income children, parents, elderly people, and people with disabilities. Both Medicaid and CHIP require matching payments from the states.
- Defense and international security assistance: Another 18 percent of the budget, or $615 billion, paid for defense and security-related international activities. The bulk of the spending in this category reflects the underlying costs of the Defense Department. The total also includes the cost of supporting operations in Afghanistan and other related activities, described as Overseas Contingency Operations in the budget, funding for which totaled $92 billion in 2014.
Two other categories together account for another fifth of federal spending.
- Safety net programs: About 11 percent of the federal budget in 2014, or $370 billion, supported programs that provide aid (other than health insurance or Social Security benefits) to individuals and families facing hardship. Spending on safety net programs declined in both nominal and real terms between 2013 and 2014 as the economy continued to improve.
- Interest on the national debt: The federal government must make regular interest payments on the money it has borrowed to finance past deficits -- that is, on the national debt held by the public, which reached nearly $13 trillion by the end of fiscal year 2014. In 2014, these interest payments claimed $229 billion, or about 7 percent of the budget.
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