{"id":21098,"date":"2011-03-01T01:01:01","date_gmt":"2011-05-23T18:03:04","guid":{"rendered":""},"modified":"2011-05-23T18:03:04","modified_gmt":"2011-05-23T18:03:04","slug":"the_one_chart_you_need_to_see","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/03\/01\/the_one_chart_you_need_to_see\/","title":{"rendered":"The One Chart You Need to See…"},"content":{"rendered":"
\n

RUSH: We\u2019re gonna have to put this chart up at RushLimbaugh.com. It\u2019s from Business Insider, Henry Blodget. <\/p>\n

<\/a>‘Here\u2019s The Only Chart You Need To See To Understand Why The US Is Screwed.\u2019 You\u2019ve seen the chart, Snerdley? This all from Saturday. ‘We\u2019re still working our way through Kleiner Perkins\u2019 partner Mary Meeker\u2019s excellent analysis of the financial condition of the United States. We\u2019ll be breaking out some key sections in the next few days. In the meantime, here\u2019s the one chart you need to see to understand why the US is screwed. This is the ‘income statement\u2019 of the United States in 2010. ‘Revenue\u2019 is on the left. ‘Expenses\u2019 are on the right. Note a few things… First, ‘Revenue\u2019 is tiny relative to ‘Expenses.\u2019 Second, most of the expense is entitlement programs, not defense, education, or any of the other line items that most budget crusaders normally howl about. Third, as horrifying as these charts are, they don\u2019t even show the trends of these two pies: The ‘expense\u2019 pie is growing like gangbusters, driven by the explosive growth of the entitlement programs that no one in government even has the balls to talk about. ‘Revenue\u2019 is barely growing at all.\u2019 And what is obvious as well when you look at this is that there\u2019s no way to solely grow our way out of this. There\u2019s gonna have to be major spending cuts in entitlements. <\/p>\n

So what I\u2019m gonna do here, folks, I just turned the Dittocam off while I zoom in. I\u2019m not gonna go through the process of having you watch me zoom in. But I\u2019m gonna zoom in on this. All right. If you\u2019re watching on the Dittocam, here we go. As you\u2019re looking at this, the chart on the right is expenses. The pie on the right is expenses. The pie on the left is income. Now, look at that pie on the right with the blue, orange, and red slices. Those are the entitlements: Medicare, Medicaid, Social Security. Expenses. The others are defense, education, a bunch of other stuff thrown in there. The point being made is that the big pie is continuing to grow. These expenses are continuing to grow, grow, grow. The income on the left, pretty soon the comparison\u2019s gonna be the size of the earth to the moon, as it keeps going. <\/p>\n

And they\u2019re right. You see this and it\u2019s all you need to see to illustrate the problem that we have and to be able to recognize that growth alone is not gonna equalize these two pies in size. It\u2019s going to require spending cuts. Now, on the big pie, of those three, the blue, the orange, and the red, Social Security\u2019s 20%, Medicare is 22%, Medicaid, 22%, unemployment compensation, 16%. Social Security is 20%. Twenty-two percent is Medicare and Medicaid. Unemployment compensation is — this is striking — three-fourths as big as Social Security. The amount of money we are paying people not to work as an entitlement on this chart, looked at as an entitlement, is three-fourths the size of Social Security. (interruption) Just like what? Just like Europe. Just like Europe. On the income side, individual income tax rates are 41% of all income. Social Security tax, FICA, is 40%. Corporate income tax is 9%. There\u2019s 10% other varied sources of income.<\/p>\n

So we\u2019ll link to that chart, and you\u2019ll be able to see it at RushLimbaugh.com.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: We\u2019re gonna have to put this chart up at RushLimbaugh.com. It\u2019s from Business Insider, Henry Blodget. ‘Here\u2019s The Only Chart You Need To See To Understand Why The US Is Screwed.\u2019 You\u2019ve seen the chart, Snerdley? This all from Saturday. ‘We\u2019re still working our way through Kleiner Perkins\u2019 partner Mary Meeker\u2019s excellent analysis of […]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nThe One Chart You Need to See... - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2011\/03\/01\/the_one_chart_you_need_to_see\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"The One Chart You Need to See... - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: We\u2019re gonna have to put this chart up at RushLimbaugh.com. It\u2019s from Business Insider, Henry Blodget. ‘Here\u2019s The Only Chart You Need To See To Understand Why The US Is Screwed.\u2019 You\u2019ve seen the chart, Snerdley? 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