We can't quite balance a $3 trillion federal budget. The $302 billion difference adds to the $8.6 (2006) trillion national debt or shows up as inflation. What is better lower taxes or a balanced budget?

Income $2.687 trillion	Spending $2.919 trillion
$1,170  Income Tax	$   867 Consumption
$ 955    FICA/Med	$1,696 FICA/ Med Benefits
$ 101    Prodn & imports	$     47 Other
$ 382   Corporate Tax	$   309 Interest Payments

Note 1. This includes taxes like the oil and gas royalties and severance taxes and the national tax on gasoline that goes to road and bridge construction. Import duties are also included.
Note 2. Other makes up the difference in income and spending

State and local income, property and sales taxes are not included in these numbers. They add up to another $1 trillion. Do you think government is big enough when $4 trillion of the $11 trillion GDP  flows through government?

Cool Death and Taxes Poster

U.S. Department of Commerce Bureau of Economic Analysis

Line		2005    I	2005    II	2005    III	2005    IV	2006    I	2006    II	2006    III	2006    IV	2007    I	2007    II	2007    III
1	Current receipts	2,209.2	2,247.5	2,188.5	2,328.3	2,436.5	2,471.5	2,513.1	2,561.9	2,619.7	2,670.1	2,687.0
2	Current tax receipts	1,321.4	1,351.7	1,362.3	1,415.2	1,488.0	1,521.1	1,555.3	1,585.4	1,619.0	1,663.2	1,666.6
3	Personal current taxes 1	897.1	920.4	946.1	966.1	1,022.7	1,032.9	1,057.4	1,099.8	1,138.8	1,151.7	1,170.1
4	Taxes on production and imports 2	96.5	100.7	99.8	98.8	98.7	99.0	99.3	97.2	97.9	98.3	101.4
5	Excise taxes	71.5	75.5	74.4	73.2	72.9	72.0	71.8	70.8	69.6	70.1	72.9
6	Customs duties	25.0	25.2	25.4	25.7	25.8	27.0	27.5	26.4	28.2	28.1	28.5
7	Taxes on corporate income	316.4	320.9	303.5	338.3	356.4	378.6	387.1	370.1	370.3	401.3	382.5
8	Federal Reserve banks	18.6	20.9	21.7	24.6	26.6	29.0	30.8	29.8	33.1	33.7	33.0
9	Other	297.8	299.9	281.8	313.8	329.9	349.6	356.3	340.3	337.2	367.6	349.6
10	Taxes from the rest of the world	11.4	9.7	13.0	12.0	10.2	10.6	11.4	18.3	12.0	12.0	12.6
11	Contributions for government social     insurance	836.0	842.6	856.1	862.6	892.8	894.1	900.9	918.8	944.0	946.3	955.6
12	Income receipts on assets	24.6	25.5	24.3	23.8	24.2	24.6	24.8	25.4	24.6	25.1	25.3
13	Interest receipts 3	17.7	17.7	17.3	17.2	16.8	16.9	17.0	17.6	17.4	17.9	18.0
14	Rents and royalties 4	6.9	7.7	7.0	6.6	7.4	7.7	7.8	7.8	7.1	7.2	7.3
15	Current transfer receipts	30.5	32.0	-48.2	32.2	33.8	34.6	35.5	36.7	38.1	38.5	39.4
16	From business	16.7	17.8	-62.6	17.6	19.0	19.6	20.2	21.0	22.2	22.3	22.8
17	From persons	13.8	14.1	14.4	14.6	14.8	15.1	15.3	15.6	15.9	16.3	16.6
18	Current surplus of government     enterprises 5	-3.3	-4.2	-6.0	-5.6	-2.3	-2.9	-3.3	-4.3	-6.1	-3.0	0.2
19	Current expenditures	2,507.2	2,535.0	2,582.9	2,621.4	2,656.2	2,711.4	2,752.3	2,743.4	2,838.2	2,876.9	2,919.7
20	Consumption expenditures	759.1	761.7	784.1	769.0	804.8	806.6	813.3	826.4	829.8	849.8	867.7
21	Current transfer payments	1,460.6	1,462.0	1,483.7	1,510.1	1,539.5	1,571.1	1,594.3	1,599.6	1,665.6	1,670.9	1,696.4
22	Government social benefits	1,062.2	1,075.1	1,090.5	1,101.9	1,159.7	1,181.3	1,196.6	1,214.0	1,248.5	1,271.4	1,286.3
23	To persons	1,059.2	1,072.0	1,087.3	1,098.7	1,156.4	1,178.0	1,193.3	1,210.5	1,245.0	1,267.8	1,282.6
24	To the rest of the world 6	3.0	3.1	3.1	3.2	3.3	3.4	3.3	3.4	3.5	3.6	3.7
25	Other current transfer payments	398.4	386.9	393.3	408.2	379.8	389.8	397.6	385.6	417.0	399.5	410.2
26	Grants-in-aid to state and local           governments	358.3	360.8	360.2	365.4	354.6	358.4	364.2	357.1	374.0	376.1	379.1
27	To the rest of the world (net) 6	40.1	26.1	33.1	42.9	25.2	31.4	33.5	28.5	43.0	23.3	31.1
28	Interest payments 3	233.5	253.6	255.8	280.5	259.0	284.4	296.7	270.0	296.3	309.4	309.3
29	To persons and business 3	138.0	153.2	150.1	166.7	137.1	152.8	159.4	125.9	145.6	151.5	150.6
30	To the rest of the world	95.5	100.4	105.7	113.9	121.9	131.6	137.3	144.1	150.7	157.8	158.7
31	Subsidies 5	54.0	57.7	59.2	61.8	52.8	49.3	47.9	47.4	46.6	46.9	46.2
32	Less: Wage accruals less disbursements	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
33	Net Federal Government saving	-298.0	-287.5	-394.3	-293.2	-219.6	-239.9	-239.2	-181.5	-218.5	-206.8	-232.6
34	Social insurance funds	52.1	47.3	55.3	54.6	31.9	13.5	5.1	7.2	0.9	-16.9	-20.9
35	Other	-350.1	-334.9	-449.6	-347.7	-251.5	-253.4	-244.3	-188.7	-219.4	-189.9	-211.7
	Addenda:
36	Total receipts	2,232.8	2,271.8	2,214.0	2,354.8	2,465.6	2,499.3	2,540.2	2,589.3	2,641.6	2,698.7	2,712.8
37	Current receipts	2,209.2	2,247.5	2,188.5	2,328.3	2,436.5	2,471.5	2,513.1	2,561.9	2,619.7	2,670.1	2,687.0
38	Capital transfer receipts	23.6	24.4	25.4	26.5	29.0	27.8	27.1	27.4	21.9	28.6	25.8
39	Total expenditures	2,586.3	2,611.2	2,659.3	2,699.7	2,741.5	2,794.3	2,836.3	2,775.7	2,917.2	2,963.8	3,018.8
40	Current expenditures	2,507.2	2,535.0	2,582.9	2,621.4	2,656.2	2,711.4	2,752.3	2,743.4	2,838.2	2,876.9	2,919.7
41	Gross government investment	104.9	108.6	111.9	114.4	116.6	120.2	118.7	123.3	116.8	119.8	122.6
42	Capital transfer payments	71.2	66.2	65.9	64.9	71.6	69.6	70.8	68.6	72.1	79.6	85.3
43	Net purchases of nonproduced           assets	0.3	-0.6	-1.6	0.0	0.2	-2.3	0.8	-52.1	-1.3	-2.3	2.2
44	Less: Consumption of fixed capital	97.3	98.1	99.7	101.1	103.2	104.7	106.3	107.5	108.6	110.2	110.9
45	Net lending or net borrowing (-)	-353.5	-339.3	-445.3	-344.9	-275.9	-294.9	-296.1	-186.4	-275.6	-265.1	-306.0

       Footnotes