We were talking about income tax, not total Federal Tax receipts.
But I was wrong...the figures as they stand are $200 billion in interest expense, and $880 billion in income taxes collected. What I should have said that by 2019 interest expense is projected to equal total income taxes collected if nothing changes.
Forget Bush, I don't know why Democrats are STILL harping on Bush versus Obama, how about this country? I never liked Bush, nor do I like Obama. Politicians have bankrupted us and there are no brakes on the spending. I hate the Patriot Act, I hate the Iraq and Afghan wars, I don't know what Medicare Part D is but I probably hate it too. I hate that Bush bailed out the banks, I hate all that. I hate Bush, I hate Obama, I hate all politicians and I want a balanced budget amendment to the Constitution.
By "attempts by Obama to fix" you mean raise taxes. I don't want to raise taxes, I want to cut the spending, we cannot afford it. You are right, weather its Repubs or Dems in office they spend more than we have. I want to massively reduce the size of govt. I want a balanced budget amendment to the constitution, cut defense (stop all wars and occupations, fortify our borders and give Star Wars to anyone that wants it so nuclear missiles are all worthless), cut SS (raise age, keep the money in the acct earning interest), cut Medicare/Medicaid (reduce benefits to rich people, arrest people for the fraud), end foreign aid except to a select few poor/starving countries, cut welfare (drug test and audit recipients), I want to legalize pot and tax it, use that money to pay for the police and prisons, I want to decriminalize drug use and use some of the pot taxes to pay for rehab and work programs so we generate citizens not criminals, there is more I want but overall I want to just stop the spending. I want to cut until we have 0% income taxes for everyone or maybe just an income tax starting at people making over $1M or something, only tax the 1% to a reasonable level, no tax income tax for the 99%, cut the size of the IRS, EPA, Defense Dept, end all farm subsidies, cut cut cut. Once we have a surplus loan out money, earn interest and apply that towards reducing our debt. If we decide Healthcare is a right, then I want to end health insurance and go single payer healthcare. There is no need for a middle man and all this Obama Care/half way nonsense. If we all get it then we don't need insurance we just need providers.
None of this is going to happen though. To reverse the course of the ship at this point is impossible because we would have to accept a bunch of economic temporary pain willingly. Ultimately we are going to spend ourselves into a massive economic collapse and then we will see what happens from there.