Congressman Patrick McHenry (NC-10) shared this presentation with constituents at town hall meetings across North Carolina's 10th District in August, 2011.

1. Town Hall with Congressman
Patrick McHenry
August 2011

3. U.S. National Debt
At the close of business today, the U.S. National Debt stood at:
$14,572,735,692,347!

4. 2011 Federal Budget
Expenditures DEFICIT
Revenue
0 1,000 2,000 3,000 4,000
Billions of Dollars
Source: OMB

5. TOTAL SPENDING IN FY 2010 = $3.5 TRILLION
(OUTLAYS IN BILLIONS OF DOLLARS)
Discretionary Autopilot
Spending Interest
Other Spending
Non-Defense 6%
Discretionary Mandatory
19.2% 12%
Medicare
Defense
19.8%
Social Security
Medicaid
20%
Source: Congressional Overall Healthcare Spending
Budget Office August 23%
2010 Budget &
Economic Outlook

7. How Much Does the Government Borrow?
Over 40 cents per dollar!
Source: OMB

8. Deficit Under Obama Budgets
(Deficit Levels in Billions of Dollars)
OBAMA TAKES OFFICE OBAMA FY2012 BUDGET
1,600
1,400
1,200
1,000
800
600
400
200
0
2018
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2019
2020
2021

9. Will Raising Taxes Help?
Question 5:
True or false: If we rolled back Bush tax cuts for ALL Americans, we could
balance the budget.
1 ____ TRUE
2 ____ FALSE
Source: Congressional Research Service Report, “The Bush Tax Cuts and the Economy” 2010
Question 6: What percentage of Americans currently pay no personal
income tax?
1 ____ 7% OF AMERICANS
2 ____ 17% OF AMERICANS
3 ____ 27% OF AMERICANS
4 ____ 37% OF AMERICANS
5 ____ 47% OF AMERICANS
Source: Tax Policy Center, www.taxpolicycenter.org 2010

10. Who Pays Taxes?
Percentiles Ranked by Percentage of Federal
AGI Personal Income Tax
Paid
Top 1% 38.02 %
Top 5% 58.72 %
Top 10% 69.94 %
Top 25% 86.34 %
Top 50% 97.30 %
Source: IRS
2008 Statistics Bottom 50% 2.7 %

11. TAXPAYERS SUPPORTING EACH SOCIAL SECURITY RECIPIENT
RECIPIENT WORKERS
1950 16.5
1960 8.6
LIFE EXPECTANCY
2000 3.4
1950 68
1960 70
2009 3.0 2000 76
2009 78
2040 2.1
SOURCE: SOCIAL SECURITY ADMINISTRATION, THE 2010 ANNUAL REPOT OF THE
BOARD OF TRUSTEES; CENTERS FOR DISEASE CONTROL, U.S. LIFE TABLES

12. Doubles then Triples the Debt
(Debt Held by Public in Billions of Dollars)
25,000
20,000
15,000 OBAMA TAKES OFFICE
10,000
5,000
0
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
OBAMA FY2012 BUDGET

13. WHAT DRIVES OUR DEBT?
(GOVERNMENT SPENDING AS SHARE OF ECONOMY)
25%
PROJECTED TAX REVENUE
20%
15%
MEDICARE
10%
MEDICAID & OTHER
HEALTH
5%
SOCIAL SECURITY
0%
1970 1980 1990 2000 2010 2020 2030 2040 2050 2060 2070 2080
SOURCE: CBO

14. Explosive Growth of Spending Drives Fiscal Imbalance
Federal Taxes and Spending as a Percent of GDP
26%
HISTORICAL SPENDING
24%
AVERAGE = 20.3%
SPENDING
FY 2012
22%
OBAMA
BUDGET
20%
18%
16%
HISTORICAL TAX
TAXES AVERAGE = 18%
14%
1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020

15. JOBS

16. WHO OWNS OUR DEBT?
DEBT HELD BY PUBLIC, 1970-2010
SOURCE: U.S. DEPARTMENT OF TREASURY

17. THE BUDGET CONTROL ACT
A STEP IN THE RIGHT DIRECTION
Source: CBO