Wednesday, December 05, 2012

Math will win the day.........

The fiscal cliff is a done-deal.

The math will win.  It always does unless it is Obama math.

Selective memory is alive and well.     Remember this?

"Obama in 2011: We can get $1.2 trillion in revenues without raising tax rate"

Here's the 4th grade math:

TOTAL SPENDING $3.603 trillion
2011 Federal Government’s spending: $3,603,000,000,000.00 (3.603 trillion)

There are a million “millions” in a trillion or 1,000 millions in a billion and 1,000 billions in a trillion. If you spent 1 million a day since 1AD you’d have not spent a trillion.
MANDATORY SPENDING $2.073 Trillion FY2011
Entitlements:

Social Security…………………………………………………………………………$726 billion
Medicare……………………………………………………………………………………$480 billion
Medicaid……………………………………………………………………………………$275 billion
TARP & Other mandatory programs…………………………………….$631 billion
Total………………………………………………………………………………………….$2,073 trillion

2011 Other Mandatory Spending includes: Food Stamps (47 million recipients) Unemployment Benefits (22.8% unemployment rate), Child Nutrition Student Loans, Disability and Tax Credits.
INTEREST ON FEDERAL DEBT $230 billion
Interest:…………………………………………………………………………………..$230 billion
DISCRETIONARY SPENDING $1.3 trillion
Must be approved by Congress each year, breaks out into 2 key areas: Security related Military Foreign Aid, Veteran Services and non-security related (What we think of when we think of the government, Agriculture, Commerce, Education, Justice, State, Energy Treasury, Interior, Transportation, HHS, HUD, etc.)

Security:…………………………………………………………………………………..$700 billion
Nonsecurity……………………………………………………………………………..$462 billion
Total……………………………………………………………………………………….$1,300 trillion
GOVERNMENT INCOME TOTAL RECEIPTS $2.303 Trillion
Income (Government Revenues): $2,303,000,000,000.00 (2.303 trillion)

Mandatory Programs……………………………………………………………….$2.073 trillion
Interest……………………………………………………………………………………….$ 230 billion
Discretionary Spending…………………………………………………………..$1,300 trillion
Total……………………………………………………………………………………………$3.603 trillion
Government “Balance” Sheet
Income………………………………………………………………………………………..$2.303 trillion
Total Spending………………………………………………………………………….$3.603 trillion
DEFICIT………………………………………………………………………………………$1.300 trillion

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