Tuesday, December 8, 2009



Here are the most terrifying charts on the economy you've ever seen. This is the amount of taxes being withheld from peoples' paychecks and business income. Every federal, state, and local budget plan in the country is based on the assumption that the government's income (taxes) will be at the same level (or more) than the previous year.
This changes everything. The money isn't there. The federal government can still sell U.S. Treasury Bonds to foreign investors, and they can even print more money, which can sweep the problem under the rug temporarily, but states and local governments can't even do that. Keep in mind that this data is on a national level, so some states like California, Arizona, Michigan, Florida, and Arizona are much worse than the other states, but with this much revenue being taken away from the government, all of the programs and services provided by state and local governments are now in jeopardy of being reduced or eliminated over the next fiscal year. The money isn't there. The federal government will likely just continue the rapid acceleration of the national debt's growth, but states and municipalities do not have that option.

Marine murdered over Nebraska/Texas football argument

story here