But this is what they did say:
Without inflation an 84%
With inflation, though, $99 billion becomes $1,020,618,556,701.03 today, according to this site. $182.16 billion becomes $1,877,938,144,329.90.
The $1.88 trillion accounts for both inflation and population growth.
But the meme says revenue was $4.05 trillion! That just more than twice the revenue we'd expect to collect if nothing but population and inflation had changed since 1962.
This is REVENUE, not spending. Revenue is taxes collected and has nothing to do with the size of the government.
Revenue, is only increasing at 215.7% faster than the population, by the way.
The 1031% inflation since 1962 is more concerning, but that's not what they were trying to say.
Learn some business math, kids.
That way you can check their numbers and see if they're trying to trick you.
PS: A population increase from 180 million to 330 million is an 83.33% increase, not 184%. (Fixed! Thanks FuzzyGeff!) They even rounded wrong.
It's worse than that. Going from 180 million to 330 million is not a 183% increase; it's 183% of the original amount. That's an 83% increase.
ReplyDeleteI can fix it!
DeleteIt's still worse.
ReplyDeleteGovernment outspends revenue. Pretty much since ever, in modern living memory, with a year or two of exceptions that prove the rule.
So it's growing much more than they think, despite not accounting for inflation by using constant dollars.
So, double stupid, and your point is a double-tap of truth.
I believe that's what they were TRYING to say, but look at the graphic carefully. They didn't say that, did they?
DeleteNope, not even close.
DeleteThis is "don't even know what they don't even know" territory.