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The Accuracy of Budget Deficits

Updated on October 27, 2019


Today there is much talk about budget deficits and I am not going to get into the details so much as the information being transmitted and having been transmitted for years. This is not about any specific administration whether Republican or Democrat. The concentration seems to be on the negative aspects of the deficit but not how it has grown over the years. This is not telling the whole story. Clearly getting into the details may not be in the best interest of any political party but the public has a right to know the truth as to how money being received is spent.

Funding our federal government is about income in relation to expenses. It is clear that the federal government as a whole has responsibilities and authority provided in the Constitution. Accomplishing these responsibilities not only at the Executive Department level but as a legislative action in Congress is not clearly defined. We elect our senators and representatives to provide the legislative actions along with the funding to accomplish the responsibilities of the federal government. Granted things do happen which require additional funding such as supporting areas where events such as tornados, hurricanes and sometimes earthquakes. This I feel does not significantly add to the deficit.

We as a country through our elected and sometimes non-elected officials must make decisions within their jurisdiction and authority. Clearly events occur on a daily basis which sometimes requires decisions related to funding necessary actions for which the federal government is responsible. The last point or points to make is that as more money is being received by the federal government spending should not increase. As a country we have the responsibility to make payments to our creditors. The problem is that there is usually no information or very little information as to who our total list of creditors really are. Another point to make is that I know that the deficit though some of it is current but part of the deficit involves funding for future promises such as Social Security and Medicare to name a couple. This part of the deficit should not be included in the current total.

The two specific areas listed in the previous paragraph like Social Security and Medicare must be addressed by Congress and this problem has existed for years and maybe decades. These subjects have been made political topics for any political party. Both parties must come together to resolve the funding issues associated with these and others for which the government is committed in support of all citizens.
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