In the recent Kiplinger's Personal Finance (3/2008), there was a very good summary of how our national budget is allocated.
So when you hear how our candidates for the Presidency will address some or our economic challenges, keep this budget allocation in mind. Their solutions and options are more limited than you may think.
The following areas are allocated 1% or less of the budget: Environmental Protection and Natural Resources, Physical Science Research (including space exploration), Energy Research, Alternative Fuels, Farm Subsidies, Foreign Aid, Welfare, and Disaster Relief.
The following areas are allocated 2%, more or less: Aid to Education, Medical Research and Public Health, Support for State and Local Law Enforcement, and Homeland Security.
The following area is allocated 3%: Transportation - interstate highways, airports, port improvements and the like.
The above areas cover about 14% of our budget. So, where does the rest of the money go???
9% Interest on the Budget Deficit
21% Military Spending
56% Untouchable Programs, benefits and payments: Social Security, Medicare, Medicaid, Pension, Civil Service, Orphans, Elderly Programs, and insurance for the poor.
So, keep the promises of our candidates for the Presidency in perspective.
3 comments:
Wow...that really DOES put things in perspective. We spend the majority on social programs. I guess we aren't so bad after all.
Beth
The budget info is interesting!
I've enjoyed your entries since you got home (caught up on them all at once).
Re pic- That's A LOT OF TURKEYS!
I'm so glad you and your bride have such a great relationship, a true life partnership. It's a very precious gift that you both obviously appreciate.
Good for you!
Thanks CA, glad you have had a chance to get caught up.
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