This Is Why The U.S. Defense Budget Will Be Cut

Real Federal Deficit Dwarfs Official Tally -- USA Today

The typical American household would have paid nearly all of its income in taxes last year to balance the budget if the government used standard accounting rules to compute the deficit, a USA TODAY analysis finds.

Under those accounting practices, the government ran red ink last year equal to $42,054 per household — nearly four times the official number reported under unique rules set by Congress.

A U.S. household's median income is $49,445, the Census reports.

The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.

Read more ....

My Comment: Sobering statistics .... and the numbers do not lie.

Here is an easy prediction .... if this debt/spending monster is not put under control, in ten years the US budget will be made up of only of three items .... medicare/medicaid, social security, and monstrous interest payments .... and the U.S. defense department will just be a shell of it's former self.

Update: Inflation is also an alternative .... but there will be other terrible consequences if that route is taken.