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
CEO, Parisian Family Office. Began Wall Street in '82. Founded investment firm, Native American Advisors, '95. White Earth Chippewa. Raised on reservations. Conservative. NYSE/FINRA arbitrator. Drexel Burnham alum. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from GHOST RANCH on the Yellowstone River in MT, TN farm, PAMELOT or CASA TULE', the family winter camp in Los Cabos, Mexico. Always been, will always be, an optimist.
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