March Madness At The U.S. Treasury: Washington Spent More Than Eight Times Its Monthly Revenue

That's Scott Brown's daughter.  Don't skip the video at the bottom.

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(CNSNews.com) - The U.S. Treasury has released a final statement for the month of March that demonstrates that financial madness has gripped the federal government.

During the month, according to the Treasury, the federal government grossed $194 billion in tax revenue and paid out $65.898 billion in tax refunds (including $62.011 to individuals and $3.887 to businesses) thus netting $128.179 billion in tax revenue for March.

At the same time, the Treasury paid out a total of $1.1187 trillion. When the $65.898 billion in tax refunds is deducted from that, the Treasury paid a net of $1.0528 trillion in federal expenses for March.  That $1.0528 trillion in spending for March equaled 8.2 times the $128.179 in net federal tax revenue for the month.

The lion’s share of this federal spending went to redeem Treasury securities that had matured during the month—most of which were short-term Treasury bills that have terms of one year or less.  In fact, during March the Treasury redeemed $705.3 billion in Treasury securities of which $623.9 billion were short-term bills with a term of one year or less.

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The deficit President shoots the rock...

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Brand new from Bankrupting America.  Text below is from the youtube page.

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At first thought, Charlies Sheen hardly seems like a model for fiscal responsibility. But, unfortunately, Washington is far worse.  Washington's habit of spending far more than it takes in has driven the country into debt. And our economic situation is projected to only get worse.  The solution is clear, but not easy: spending cuts.  History shows that reducing government spending leads to sustained economic growth. And that's something (even Charlie Sheen) can get behind.

Source List:

"Last year, Charlie made $30 million."
Source: http://jobs.aol.com/articles/2011/03/14/what-people-earn-celebrity-salaries-r...

"Last year, Washington brought in 2.3 trillion dollars in taxes."
Source: http://www.washingtonpost.com/blogs/federal-eye/post/wheres_your_tax_refund/2...

"What's not funny is that they [Washington] spent 30 million..."
Source: http://www.whitehouse.gov/omb/budget/Historicals

"It took over 200 years, and every President from George Washington through Bill Clinton, to rack up a gross debt of 6 trillion dollars."
Source: http://www.whitehouse.gov/omb/budget/Historicals

"In the last 10 years, we have more than doubled it.
"
Source: http://www.whitehouse.gov/omb/budget/Historicals

"And at $14 trillion in 2011, it looks like we'll only need another ten...to nearly double it again."
Source: http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/tables...

"14 trillion is more than 130,000 dollars per US household."
Source: http://www.whitehouse.gov/sites/default/files/omb/budget/fy2011/assets/tables...

Projections on interest on the debt:
Source: http://www.whitehouse.gov/sites/default/files/omb/budget/fy2011/assets/tables...

"After World War II, the US government cut spending from 44 percent of the economy, to a mere 11 percent. What followed was one of the largest economic booms in US history."

Source: http://www.whitehouse.gov/omb/budget/Historicals

Comments

[DailyBail]

If Obama can bomb Libya, a President Palin can bomb Iran without Congress's OK

President Obama's bombing of Libya without congressional authorization or debate puts us on a dangerous path. A minimum standard for transparency in government is that the House and the Senate go on the record for or against a new war.

http://www.csmonitor.com/Commentary/Opinion/2011/0323/If-Obama-can-bomb-Libya-a-President-Palin-can-bomb-Iran-without-Congress-s-OK

[LiberatedCitizen]

Are You Better Off Under the Obama Administration?

See full article from DailyFinance: http://srph.it/hjlkIY

[DailyBail]

Southwest completes 737 checks; five need repair

http://www.marketwatch.com/story/southwest-completes-737-checks-five-need-repair-2011-04-05-1126470?dist=afterbell

[DailyBail]

NEW YORK (MarketWatch) -- Boeing Co. said Tuesday that 570 older 737 jetliners were at risk for the same kind of fuselage cracks seen at Southwest Airlines Co., and recommended operators inspect their aircraft earlier and more often.

http://www.marketwatch.com/story/boeing-hundreds-of-older-737s-at-risk-for-cracks-2011-04-05?dist=afterbell

[DailyBail]

WASHINGTON (MarketWatch) — A budget deal that would keep the government running past Friday is closer than ever, President Barack Obama said Tuesday, as top congressional Republicans and Democrats planned another round of negotiations aimed at hammering out a spending plan for the next six months.

http://www.marketwatch.com/story/gop-proposes-62-trillion-in-spending-cuts-2011-04-05

[DailyBail]

Ireland says goodbye Boston, hello Havana

Commentary: Ireland’s choice: Default or crippling debt. Is there a third way?

http://www.marketwatch.com/story/ireland-says-goodbye-boston-hello-havana-2011-04-05

[DailyBail]

SEC proposes trading limits in 'flash-crash' wake

http://www.marketwatch.com/story/sec-proposes-trading-limits-in-flash-crash-wake-2011-04-05

[Texas Dar]

...@ DB If Obama can bomb Libya, a President Palin can bomb Iran without Congress's OK

Very goood point, but she will neaver see that day.

[TR]

The links to Southwest & Boeing reminded me that Homeland Security said they had the right to strip search.

Well if TSA is going to feel me up I at least want to be naked.