Green Room

Infographic: Detroit v. United States

posted at 8:38 am on August 5, 2013 by

Infographic of the day courtesy of the Heritage Foundation:

The city of Detroit filed for bankruptcy in large part due to the city’s huge unfunded obligations, which totaled $26,655 per capita. That amount, however, is only one-eighth the size of the burden currently facing all Americans. The federal government’s $69 trillion in debt and unfunded obligations works out to $218,169 per capita.

 photo BQ54NUoCYAA6uwz_zps9b914f02.png

Recently in the Green Room:

Blowback

Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.

Trackbacks/Pings

Trackback URL

Comments

Detroit can’t print money.

BJ* on August 5, 2013 at 8:44 AM

…and the U.S. only gets away with it because we’re the least-worse option for foreign investors to find a safe home for their money. If the foreign funds buying American bonds ever find another secure option, or simply lose faith in the U.S. government to be a secure option, the party’s over.

jon1979 on August 5, 2013 at 9:25 AM

…and the U.S. only gets away with it because we’re the least-worse option for foreign investors to find a safe home for their money. If the foreign funds buying American bonds ever find another secure option, or simply lose faith in the U.S. government to be a secure option, the party’s over.

jon1979 on August 5, 2013 at 9:25 AM

Pretty much. We’re currently the least-worst option because of decades of conservative pushback to the 80 year slide of economic Progressivism. If the American Left had their way we would be at the level of the PIIGS, no question.

visions on August 5, 2013 at 9:33 AM

Oh, yeah, that’s sustainable. So what’s the problem?

UltimateBob on August 5, 2013 at 9:48 AM

Front page of HA says there are 6 comments on this post but as I type this there are four. Huh??

inviolet on August 5, 2013 at 10:35 AM

Front page of HA says there are 6 comments on this post but as I type this there are four. Huh??

inviolet on August 5, 2013 at 10:35 AM

I think they’re using the new Detroit/government math. 4=6 now

jaywemm on August 5, 2013 at 10:56 AM

Front page of HA says there are 6 comments on this post but as I type this there are four. Huh??

inviolet on August 5, 2013 at 10:35 AM

I’ve had that happen to me when I:
1) Viewed a post
2) Navigated away to something else
3) Came back to the HotAir.com main page
4) Clicked back into the same post viewed in #1.

I think it is a browser cache issue… when I refresh the page, the new comments appear.

ITguy on August 5, 2013 at 11:09 AM

Let’s go back to what the Democrats put in writing in 2006, when they thought then-current deficits (like $248 Billion in FY 2006) were a NATIONAL SECURITY ISSUE…

Over the past decade, the Republican controlled Congress took our nation in the wrong direction. Too many Americans are paying a heavy price for those wrong choices: record costs for energy, health care and education; jobs shipped overseas; and budgets that heap record debt on our children. For millions, the middle-class dream has been replaced by a middle-class squeeze…

Democrats are proposing a New Direction for America…

With integrity, civility and fiscal discipline, our New Direction for America will use commonsense principles to address the aspirations and fulfill the hopes and dreams of all Americans. That is our promise to the American people….

Our federal budget should be a statement of our national values. One of those values is responsibility. Democrats are committed to ending years of irresponsible budget policies that have produced historic deficits. Instead of piling trillions of dollars of debt onto our children and grandchildren, we will restore “Pay As You Go” budget discipline.

Budget discipline has been abandoned by the Bush Administration and its Republican congressional majorities. Congress under Republican control has turned a projected $5.6 trillion 10-year surplus at the end of the Clinton years into a nearly $3 trillion deficit– including the four worst deficits in the history of America. The nation’s debt ceiling has been raised four times in just five years to more than $8.9 trillion. Nearly half of our nation’s record debt is owned by foreign countries including China and Japan. Without a return to fiscal discipline, the foreign countries that make our computers, our clothing and our toys will soon be making our foreign policy. Deficit spending is not just a fiscal problem – it’s a national security issue as well.

Our New Direction is committed to “Pay As You Go” budgeting – no more deficit spending.

Pelosi promised no more deficit spending. Pelosi promised that both in writing (above) and live on C-SPAN:

After years of historic deficits, this 110th Congress will commit itself to a higher standard: pay-as-you-go, no new deficit spending. Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt.

- New Speaker Nancy Pelosi, 01/04/2007

In 2008, Obama made deficit spending a campaign issue:

“The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents – #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back — $30,000 for every man, woman and child. That’s irresponsible. It’s unpatriotic.

- Barack Obama July 3, 2008

Republicans held majority control (holding 2+ out of 3 of the House, Senate, and Presidency) from January 3, 1995 to January 2, 2007 and were majority responsible for the FY 1996 to FY 2007 budgets. Over those 12 continuous years of Republican majority control, the total national debt increased from $4.974 Trillion to $9.008 Trillion, an increase of $4.034 Trillion over 12 years, for an average of $0.336 Trillion new debt per year.

The Democrats have held majority control (holding 2+ out of 3 of the House, Senate, and Presidency) since January 3, 2007, and are majority responsible for the FY 2008 to FY 2013 budgets (and have failed to pass a budget since FY 2009).

On April 30, 2013, after 5 and 2/3 Fiscal Years of Democrat majority control, the total national debt was $16.829 Trillion.

In 5 2/3 years, Democrat majorities have added more than $7.82 Trillion to the national debt, an average of $1.380 Trillion per year.

Obama said adding $4 Trillion in debt over 8 years (really over 12 years) was “irresponsible” and “unpatriotic”.

Yet Obama (first as a Senator in the Democratic majority, and then as pResident), has added over $7.82 Trillion in 5 and 2/3 years.

Republican majorities added an average of $0.336 Trillion new debt per year for 12 years.

Democrat majorities have been adding an average of $1.380 Trillion new debt per year for the last 6 Fiscal Years, all after Pelosi promised, in writing and from the Speaker’s rostrum on C-SPAN, “no more deficit spending”.

Democrats now claim that we don’t have a debt problem. LIARS.

In their view,
$5 Trillion +$4 Trillion = $9 Trillion: BAD (when it was Clinton, Bush and Republican majorities), but
$9 Trillion +$7.8 Trillion = $16.8 Trillion: GOOD (when it was Democrat majorities doing it under Bush and Obama).

In their view,
$0.336 Trillion new debt per year: BAD (when it was Bush and Republicans), but
$1.380 Trillion new debt per year: GOOD (when it was themselves doing it).

Pelosi promised “fiscal discipline” and “no more deficit spending”, but then added more new debt than any other House Speaker in history.

Democrats promised “fiscal discipline” and “no more deficit spending”, but then added new debt at OVER FOUR TIMES THE RATE of the Republicans they criticized.

The Democrats are such shameless, boldfaced LIARS that it is despicable.

ITguy on August 5, 2013 at 11:13 AM

Damn, and I was gonna buy a convertible.

FineasFinn on August 5, 2013 at 11:23 AM

Don’t worry – the biggest parts of that will disappear thanks to PlaceboCare’s Death Panels. After all, if you don’t live to be 66, you don’t collect SocSecurity or Medicare.

The problem – the federal debt held by the public and non-defense federal employees’ retirement/health benefits (after all, some pigs are more equal than other sheep and especially sheepdogs) won’t go away with that.

Steve Eggleston on August 5, 2013 at 11:25 AM

Detroit can’t print money.

BJ* on August 5, 2013 at 8:44 AM

It’s also a lot tougher to just pick up and leave the US…

JohnGalt23 on August 5, 2013 at 12:47 PM

The answer, of course, is to simply add more capita’s.

BobMbx on August 5, 2013 at 1:00 PM

When you divide per capita obligations by per capita income (in 2010 $14,118 for Detroit, $39,791 for the U.S.), Detroit’s ratio is a much healthier 1.89, compared to 5.48 for the nation as a whole.

steebo77 on August 5, 2013 at 1:01 PM

Why is the text suddenly HUGE? Not a browser issue.

steebo77 on August 5, 2013 at 1:03 PM

218,169 per capita.

What was this number in 2008?

faraway on August 5, 2013 at 1:17 PM

What was this number in 2008?

faraway on August 5, 2013 at 1:17 PM

BOOOOSSSSHHHHHH!!!!!1!!1111111!!11!111!!eleventy!!!!

steebo77 on August 5, 2013 at 1:26 PM

The answer, of course, is to simply add more capita’s.

BobMbx on August 5, 2013 at 1:00 PM

And the Dems have a way of messing that up: Abortion

Bitter Clinger on August 5, 2013 at 2:38 PM

What was this number in 2008?

faraway on August 5, 2013 at 1:17 PM

For 12 years, 1/3/1995-1/3/2007, Republicans controlled majority (2+ out of 3) of House, Senate, & Presidency.

Over the 12 budgets (FY 1996-2007) produced by that Republican majority, the national debt increased $4 Trillion.

Democrats controlled budgets FY 2007-2013. In less than 6 fiscal years, the national debt has increased $7.7 Trillion

In less than half the time (less than 6 years vs. 12 years), Democrats have increased the national debt by almost twice the amount ($7.7 Trillion increase vs. $4 Trillion increase)!

Data Sources:

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo4.htm

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

http://www.treasurydirect.gov/NP/debt/current

ITguy on August 5, 2013 at 3:46 PM

But it’s inconceivable that the US would default on its obligations per Lew.

talkingpoints on August 5, 2013 at 5:16 PM

Maybe everybody will have to sell a peace of their waterfront property and survive on cake for awhile.

BL@KBIRD on August 5, 2013 at 6:37 PM

piece of cake and waterfront….

BL@KBIRD on August 5, 2013 at 6:38 PM

ITguy on August 5, 2013 at 3:46 PM

Yeah, but the Democrats had to make the mess bigger to clean up the mess that the Republicans made. Actually, they haven’t spent enough to fix it yet, because of Republicans blocking everything the chosen one wants to do, which is why the mess just seams bigger now. /brain dead lib

pannw on August 6, 2013 at 9:40 AM