Laffer Curve...

Have you ever heard of the Laffer Curve? I hadn't until several months ago. It's a little like the Bell Curve for grading in school, but this is for determining the optimal tax rate in an economy.

The Laffer Curve basically says that at 0 percent taxation the government gets $0 dollars in revenue, and at 100 percent taxation the government gets $0 dollars in revenue. At 100 percent taxation there is no incentive for people to earn money. Instead bartering and other means of trade take the place of cash transactions.

Based on those assumptions, there has to be a tax rate in between that keeps the people happy while generating the revenue government needs to function.

When Ronald Reagan took over after jimmy carter almost drove our economy into the ground, he used the Laffer Curve, in part, as a basis for dropping the highest marginal tax rate from 70 percent to 31 percent. It resulted in a massive increase in revenue to the federal government. Of course, congress continued to spend every single nickle that came in, and then some, so no surplus was ever attained.

It's hard to believe that taxing people LESS brings in MORE money, but it works. That isn't always the case, but historically in this Country it is very effective.

obama and his gang of thugs think that taxation is the key to solving our financial crisis. It isn't. Cutting spending is the first step. Reducing the size and influence of government is also a good step. Businesses have to have some freedom in order to be innovative. Innovation leads businesses to employ more people, more people paying a lower tax rate increases revenue to the government.

obama also talks constantly about the evil rich people. They don't pay their fair share. There are three points I would like to make about that.
1. The top 1 percent of wage earners in this Country pay 40 percent of the tax burden. Compare that to the bottom 45 percent who pay no taxes at all. Who is actually carrying the burden?

2. Rich people in this Country employ millions of people. The small business is the backbone of this Country. We are losing small businesses every day to uncertainty with the economy, over regulation, over taxation and just a general hostile environment created by this administration.

3. Companies and corporations don't pay tax. Sure, they may send money to the federal government, but they offset that money by increasing prices on goods and services or being unable to afford raises and other benefits for their employees.

One last thing, it is not evil for a company to make a profit. Profits mean more research and development which results in better products. It means raises for employees. It means charitable donations. It means putting more money back in to our economy.

obama is bad for our Nation. He is anti-American in every sense of the word. His plot to turn us into a third world nation is dangerous. His underhanded and dirty tactics should not be tolerated. The press in this Country have given him a free pass from the moment he emerged from the chicago slime. Will the press be as forgiving when he comes for them?

For more information on the Laffer Curve, and other examples, visit this link...

Budget Panel: obama Deficit Plan Saves Less Than Advertised

If anyone actually believes that this "obama" plan will do anything positive for this County they should think about obamacare. Just like obamacare, you can bet there is a bunch of hidden shit that will wind up costing us billions and cut into the savings. It will probably require hiring thouands of new government employees to implement and somehow it will give huge amounts of money to unions and other of obama's cronies.

Never trust this man, ever. He is a liar. He lies when it is easier to tell the truth. It is a compulsion.

And don't forget there is always an agenda. His desire to turn us into a third world country out weighs any sense of sanity. He is a liar and should not be trusted...

From FoxNews

A leading panel of budget experts estimated Thursday that President obama's latest spending plan does not save as much money as the White House initially claimed and is about $1.5 trillion more expensive than the Republican plan.

Since he delivered a major fiscal policy address last week, obama and other officials have touted that the White House plan would cut $4 trillion over 12 years. Using that figure, they've claimed it's very similar to a House Republican plan which supposedly would cut $4.4 trillion over 10 years.

But given that most budget outlines use a 10-year window, as required by law, the Committee for a Responsible Federal Budget tried to offer an apples-to-apples comparison -- and determined obama's proposal would actually cut deficits by $2.5 trillion over the next decade. It credited the president for "moving the ball forward," but said that based on Congressional Budget Office assumptions, the plan doesn't do enough to tackle the debt crisis.

"It appears unlikely that the policies proposed in the president's framework would be sufficient to reduce debt to a manageable level," they wrote.

In response, the White House claimed that using the 10-year window, the president's budget plan would cut $2.9 trillion, not $2.5 trillion. And officials continued to stand by the claim that it cuts $4 trillion over 12 years. A White House aide suggested the president's plan would save more than the committee claims in part because of a "failsafe" provision that would trigger additional spending cuts if debt reduction goals are not met.

Read the rest at the link above...

Obama Throws Down Gauntlet on Tax Hikes, Republicans Blast Deficit Plan

There is so much wrong with what obama said today that I don't even know where to begin.

Let's start with the obvious, obama is a socialist dumbass who wants to make our Country into Europe. Which is funny because Europe doesn't even want to be Europe anymore.

Another obvious point, well, obvious to anyone with half a brain, we DON'T HAVE A REVENUE PROBLEM, WE HAVE A SPENDING PROBLEM. Why do democrats absolutely refuse to see that you can't spend money you don't have? Many of them are wealthy, so maybe in their personal lives they can spend and spend and never run out of cash. It's not the case for our Country, and they are SPENDING OUR MONEY, not their own.

If obama thinks that taxing small business owners is a good idea, he is even more stupid than I thought, and that's pretty damn stupid. Our economy will never grow, people will never be enticed into starting a business and hiring people as long as democrats keep up this anti-business agenda.

Entitlement spending in this Country is out of control. It has been for a long time. Everyone knows it but nobody, until Paul Ryan, wants to address it. Passing it on to the next bunch has been the way to do it for far too long.

obama thinks that kicking the Republicans in the nuts hard and often is the way to bipartisan legislation? He really is out of touch with reality. His fantasy world is dragging our Country further and further from the path set out by our Founding Fathers. He doesn't give a damn about the Constitution. He proves that almost daily.

I don't know if anyone has addressed the duplicate and triplicate programs that were pointed out a month or so ago, but that would be easy pickings toward reducing spending. If we were to halt all aid to corrupt countries, there is another bunch of money. Haiti and North Korea are examples of this. The governments are so corrupt that any aid money we send them goes right into the bank accounts of the corrupt leaders.

How about all the money we give to mexico to help fight the never ending drug war? Again, it is lining the pockets of corrupt government officials and their flunkies.

At some point, all of these associations need to be examined or we will continue to send American tax dollars to places that it does no good. The tax dollars would be better used here, fixing our own problems.

obama needs to get a taste of reality. If he can't or won't, he needs to hire a czar with some sense, somebody that isn't a thug and isn't from chicago...

From FoxNews

President Obama, outlining his latest deficit-reduction proposal, called Wednesday for both parties to work together to balance the budget and put America on a path toward paying down its debt. But the address left both sides digging in on one crucial issue -- taxes.

In a case of an unstoppable force meeting an immovable object, Obama said he absolutely would not allow tax cuts for those making above $250,000 to be extended.

Republicans said they absolutely would not accept a new tax hike. "Any plan that starts with job-destroying tax hikes is a non-starter," House Speaker John Boehner said in a written statement.

Based on the response of Republican members of Congress -- as well as several likely presidential candidates -- the address may have served to inflame the debate rather than reset it. Tax hikes weren't the only plank in Obama's budget plan, but they generated the most criticism.

"The only concrete proposal that he proposed was raising taxes," House GOP Leader Eric Cantor said afterward. "That solution falls far short of dealing with the kind of crisis that we're facing."

Rep. Paul Ryan, R-Wis., skewered the president's address, accusing him of "exploiting people's emotions of fear, envy and anxiety."

The response previewed a grueling battle as both parties prepare to trudge through a new set of budget issues in the months ahead. The speech also served as an opening argument for the 2012 campaign, and Obama drew a clear line between his long-term budget plan and Republicans'.

In the speech at George Washington University, he positioned his spending plan as a more "compassionate" alternative to one introduced last week by Ryan. He applauded Republicans for putting a plan on the table to address entitlements, but the praise stopped there.

"The way this plan achieves those goals would lead to a fundamentally different America than the one we've known certainly in my lifetime," Obama said, calling the GOP plan "deeply pessimistic." He suggested Republicans were giving up on basic functions of government.

"It's a vision that says if our roads crumble and our bridges collapse, we can't afford to fix them. If there are bright young Americans who have the drive and the will but not the money to go to college, we can't afford to send them," Obama said of the Republican plan. "It's a vision that says America can't afford to keep the promise we've made to care for our seniors."

The president claimed his proposal would cut $4 trillion from the deficit in 12 years or less. He drew several lines in the sand as he explained how he planned to get there.

Accusing Republicans of cutting services to seniors and poor children while cutting taxes for the rich, Obama said: "That's not right, and that's not going to happen as long as I'm president."

The president's proposal would deal with entitlements like Medicare and Medicaid, but avoid the major changes being pushed by Ryan. The president opposes turning Medicaid into a block-grant program for states and making Medicare seniors purchase government-subsidized insurance, as Ryan proposed. Rather, he vowed to make other changes he claims will extract more than $300 billion in savings from those programs over the next decade. Plus he pushed cuts in discretionary spending, including to defense.

But where Obama departed most sharply from Republicans was his call for rolling back the Bush tax cuts for the most well-off Americans -- meaning a tax hike for households making more than $250,000, or the top 2 percent of wage-earners. Republicans and Democrats had agreed to extend all the Bush tax cuts for two years, but Obama said Wednesday, "I refuse to renew them again" for the top tier.

"The most fortunate among us can afford to pay a little more. I don't need another tax cut," he said.

Republicans have roundly opposed a tax hike for anyone and condemned the proposal, before and after the speech.

"The last thing we should be doing is raising taxes on job-creators, entrepreneurs and small business owners across America," former Massachusetts Gov. Mitt Romney, a likely presidential candidate, said in a statement.

Ryan said he was "very disappointed" with the president, calling his speech "excessively partisan, dramatically inaccurate and hopelessly inadequate."

"What we heard today was a political broadside from our campaigner in chief," Ryan said. "Rather than building bridges, he's poisoning wells."

Read the rest at the link above...

Two other opinions about the budget deal...

I agree with elements of what each one of them says. It was a win. of sorts, for Republicans. But on the downside, the democrats are much better at this type of negotiations than Republicans. They are willing to give a little to gain a lot. I think this is what the democrats did in this case.

It was the largest cut in budget history, but obama using our Military as a bargaining tool is inexcusible. Like Robert mentions, no president in history has ever gone there. Never.

And like T.L. says, Boehner isn't qualified to lead these types of negotiations. He is too honest. To attempt to strike a favorable bargain with democrats, you have to be as dirty and as thuggish as they are. You have to be willing to stake your own grandmother to an ant hill. democrats are willing to do that, and worse.

The first is from My friend Robert at American and Proud

Budget Deal Done! How do you feel?

After a couple days of huffing and puffing. After reading the entire budget that was agreed to. And after checking many “Alternative reality” sites (aka Liberals) I came to a conclusion. It may not set well with some folks, it may make sense to others but it is my opinion.

We on the right didn’t do too bad in the agreement. We didn’t win in a blowout, but we didn’t lose at all. In other words it was like baseball game played over 12 innings we lost our starting pitcher and our power hitter to injuries but we won the game.

The POTUS made the Speaker blink. Yep. The POTUS used our military as tools to save Planned Parenthood. Yep. And it worked. In a day gone by NO POTUS would have ever gone there. Our current POTUS did. Obama is not a Democrat, he’s a progressive and that’s the big difference in this entire thing. A democrat can be reasoned with, a progressive on the other hand is ANTI-AMERICAN from the start so sacrificing the military wouldn’t phase him.

Did the Republicans win? Absolutely they won. They proved some points, they made Obama tip his hand about how far he’s willing to go to protect a failed agenda and they got MORE cuts than ever before. And they are putting fourth a bill that will protect the military from any such Obamanism in the future. They also left the door open for the next battle which starts in about two weeks.

While I would have rather them take it all the way, I do understand the game. Its one of quarters not entirety all at once. We got more work to do, we have a LOT more work to do, but for an opening salvo in a clash, We’ll take the 38.5 billion and hope they can get the other 60+Billion before the next fiscal year.

And the next one is from my friend T.L. Davis at TL in Exile.

The Enemy Is Us

One can barely grasp the enormous stupidity of the budget deal. It is a signal that there is no chance of a bold, desperately-needed reconciliation with sanity. There is no chance that even discretionary spending can be limited, much less the drastic measures required to save the nation from bankruptcy and world-wide ridicule. If this is the fruit of the Tea Party, it is a wicked weed indeed.

John Boehner is not qualified to polish the spittoons in the basement of the Capitol Building, much less participate in a negotiation between Harry Reid, Barack Obama and the Republican congress. The praise being heaped upon him by the press signals that he is the one they want to negotiate the 2012 budget. He negotiated positive press and a fig leaf from the president in return for capitulation. Gee, I wonder why they would give that to him? It is time to scrap Boehner and elect Paul Ryan as the majority leader, or at a minimum, to designate Ryan as the principle budget negotiator for the majority.

The bigger issue is the 2012 budget. $6.2 trillion in spending reductions are you effing crazy? Boehner couldn't negotiate for an umbrella in a hurricane. He just simply does not have the backbone for it. I don't dislike his personal story, it is compelling, but this is the salvation of the country, this is for all the marbles. He is out of his depth and perhaps his advisers are of theirs as well. Perhaps the Republican Party is out of its depth. I have never seen anything resembling a spine when it came to budget negotiations from the Republicans.

I've been through this before, but I will go through it again. You cannot negotiate a budget deal where you eliminate tens of billions of dollars while you are spending hundreds of billions of dollars over the period of the negotiation. I wrote a post a while ago about the $6.1 billion dollar debate and how if that debate went on for a week, the interest on the debt alone would wipe out the savings. In this deal, the government spent over $50 billion while they negotiated to cut $38 billion.

Listen, this is the same old fight in a different location. The moochers and parasites are the supporters of the Democrats, they aren't going to let a budget cut interfere with their looting and since the Democratic Party is nothing other than a gigantic money-laundering operation, every dime the moochers and parasites have gotten from the government they are willing to spend to keep them in office and to keep them from reforming the system. The Democrats themselves have no reason to engage in legitimate negotiations. Parasites don't give a damn about the condition of the body from which they feed. It is beyond their intellectual capacity to consider the future when the feast is at an end.

We have now seen the script laid out for the upcoming budget battle of 2012 and the debt limit increase to come. We have come, we have seen and the enemy is us.

Budget Deal Targets Pieces of Health Care Law

Ok, maybe I was a little hard on Boehner yesterday. Anything that helps defund or repeal obamacare is a good thing. I still think Boehner compromised when he didn't have to, but the deal he got was better than the past couple of continuing resolutions...

The Wall Street Journal

The budget deal reached Friday would affect two initiatives contained in last year's health-care law that were bitterly opposed by businesses, killing one outright and slashing funding for the other.

The agreement would eliminate a provision of the health-care law enabling low-income workers to opt out of employer-offered health insurance and shop for more affordable coverage on insurance exchanges to be created in 2014, according to congressional aides and business groups.

Under the provision, employers would have had to help pay for the insurance purchased on the exchange. Ending the program would save the government $4 billion over 10 years, but it wouldn't result in any immediate spending cuts because it isn't set to begin for three years.

Oregon Democratic Sen. Ron Wyden sponsored the provision, calling it "Free Choice." A spokesman for Mr. Wyden, Jennifer Hoelzer, said Saturday that "both parties claim to support choice and competition in health care, but their closed-door decision to kill off Free Choice makes it pretty clear that their real goal is to keep health care in the hands of special interests."

Spokespeople for the Business Roundtable and the National Association of Manufacturers, organizations that opposed the measure, couldn't be reached for comment. A spokeswoman for the U.S. Chamber of Commerce, which also opposed the measure, declined to comment.

The budget bill will also cut $2.2 billion in funding from a program that would encourage the development of health-care cooperatives-not-for-profit entities that would compete with private, for-profit health-insurance companies.

Read the rest at the link above...

Shutdown looms and democrats lose what's left of their minds...

I have heard it all now.

The Republicans want old people to die...

The Republicans want to deny cancer screenings for women...

The Republicans want women to die...

This is complete bullshit. If the dumbass democrats had passed a budget last October, they wouldn't be fighting over continuing resolutions every few weeks. What they did instead was just decide to spend what ever they wanted to, without the restraints of a budget.

Now the Republicans are forced to reign in the out of control bleeding of money from washington. When things are as bad as they are currently in our government tough choices have to be made. Somebody has to have the balls to make those tough calls.

You know what, none of those calls involve starving old people or killing women. The democrats are a bunch of fucking drama queens. If they were willing to face the fact that our Country is flat broke, maybe they would understand what needs to be done. They aren't. They won't. They need therapy, shock therapy.

obama has put together a budget for 2012. Right out of the gate it has a TRILLION dollar deficit. Before the first tax dollar is spent, we are already an additional TRILLION dollars in the hole. Is that any way to run a Country? Look at this number $1,000,000,000,000.00. Can you even imagine that? Does your brain even register that many zeros? Mine doesn't, it's mind boggling. And the really messed up part of that is, we will have to borrow that TRILLION dollars from China. Do you know how long it is going to take to pay that money back, on top of all the other money we already owe them? Put it like this, your grandchildren will still be paying it back.

Over all, our deficit is in excess of $14,000,000,000,000.00. 14 TRILLION dollars. And the fucking democrats are acting like a bunch of drama queen, chicken little, crybabies over 61 BILLION dollars that the Republicans want to cut this year.

If you are stupid enough to believe that the upcoming shutdown is the fault of the Republicans, please seek a mental evaluation. Just look at the numbers involved and how we got to them. Also consider what I said above about the democrats refusing to put a budget in place. When you consider that it is against the law for them not to have a budget it is even uglier. And don't forget that when the budget was supposed to have been put in place, the democrats controlled the house, the senate and the presidency. Like I said before, a budget would have just gotten in the way of their spending. A liberal, anti-American agenda is expensive...

Rep. Paul Ryan Raises Profile With 'Bold' Budget Plan

Paul Ryan is a badass. He understands the shape we are in financially. He's also willing to step outside of the washington box and take charge, unlike obama who wants to sit on the sidelines and bitch about the big boys who are trying to clean up the mess.

I would probably vote for a ticket where Ryan was the VP...

By Stephen Clark - FoxNews

He's a rising star on the right and a growing target on the left.

Washington is buzzing about Wisconsin Rep. Paul Ryan's take-no-prisoners approach to budget cuts -- manifested in his budget proposal that would slash federal spending by $6.2 trillion over 10 years and overhaul health programs for the elderly and poor.

As Congress wages an epic budget battle that threatens this weekend to shut down the federal government for the first time in 15 years, Ryan's willingness to offer specifics on how to tame deficits and preserve the American safety net is boosting his profile among Republicans and stirring speculation that he may be on the short list of GOP vice presidential contenders.

"I think that Paul Ryan is the brightest light in the Republican Party right now," said former Sen. Bob Kasten, a fellow Wisconsin Republican who once employed Ryan. "And the courage he's shown is unlike anyone in Washington today, including the president."

"Whether for president or vice president or for further leadership in Congress, he's on everyone's list," he said, adding that the choice would be up to him.

Ryan, 41, is chairman of the House Budget Committee and known as the Republican go-to guy on fiscal policy, a position that has placed him at the center of the most contentious Capitol Hills debates in recent years, including Obama's health care overhaul. But his new budget proposal is elevating him to a new level of fame or notoriety, depending on which side you're on.

He wants to tackle the $14.3 trillion national debt while reducing the deficit by $4.4 trillion over the next decade. He wants to cut the top tax rate for both individuals and corporations from 35 percent to 25 percent. He also wants to transform Medicare into a system in which the government would pay for private health insurance plans instead of paying doctors and hospitals directly.

While Republicans have called it a good starting point, Democrats are dismissing it as an attack on senior citizens.

Ryan says he's not surprised by the reaction.

"I always knew if you put bold reforms out there, you'll have the partisan demagoguery," he told Fox News Wednesday, contending that's why nothing gets done in Washington.

"We can't keep doing that in this country," he said. "We got to stop spending money we don't have."

Read the rest at the link above...

Obama-Boehner Fight Gets Ugly

Everything is rosy when obama and reid get their way, when they are put in a position of possibly compromising they act like jr. high school girls.

Do you think Boehner will cave? I hope like hell he stands his (our) ground. There has to be real cuts made to spending in washington. We are headed for financial ruin at breakneck speed.

It is going to be painful to fix our budget woes, but not nearly as painful as the alternative. It can't be put off any longer...

By Chris Stirewalt - FoxNews

Obama Swats Boehner, Boehner Swats Back

“The president is certainly entitled to disagree with our budget, but what exactly is his alternative? If he wants to have an ‘adult conversation’ about solving our fiscal challenges, he needs to lead instead of sitting on the sidelines.”

-- Statement from Speaker John Boehner released Wednesday morning blasting President Obama for neglecting long-term fiscal issues

President Obama is out on the campaign trail today talking to Pennsylvanians about wind power and attending an awards ceremony hosted by Al Sharpton’s National Action Network.

But real the topic for the president’s day isn’t green energy or racial injustice. It’s dealing with House Speaker John Boehner and the prospect of a looming government shutdown.

After a White House meeting with Boehner and Senate Majority Leader Harry Reid Tuesday, Obama went to the press room to rip Boehner for playing “games” with the process and “quibbling around the edges” of the nation’s fiscal problems.

Boehner then responded with a press conference of his own saying that Republicans would not be “put into a box” by the president and said Democrats are using “smoke and mirrors” to create the false appearance of spending cuts.

Today is the crucial day if lawmakers mean to avoid a government shutdown. House rules require three days for legislation to be considered before a vote and Senate Democrats have been unable to produce their own plan for funding the government when the current emergency measure expires on Friday.

That means if a shutdown is to be averted, Reid and his caucus would have to get busy today and produce a bill that can draw at least the seven Republican votes in the Senate needed to advance and head to the House.

In the six weeks since House Republicans passed their spending plan for the rest of the fiscal year – now just 25 weeks – the Senate has been stuck and the government has been operating on emergency measures to stave off shutdowns while negotiations continued.

Boehner shocked Democrats on Tuesday when he won the support of Tea Party members of his caucus for yet another emergency one-week extension. Boehner won their backing by attaching a $12 billion cuts package and promising full-year funding for the Pentagon in the measure.

Boehner, Reid Fail to Agree on Budget Solution as Gov't Shutdown Nears

It's funny seeing obama try to act like a badass. Especially when you consider that this entire mess has come about because the democrats, who controlled the house, the senate and the presidency, didn't pass a budget last year. So now, obama wants to act like a bully and try to make Boehner buckle under the pressure, force him to make a compromise.

If Boehner sticks to his guns, which I doubt, he can force obama and reid to make some concessions.

I don't think that a government shutdown is such a bad idea. It will separate the essential employees from the non-essential. It would go a long way to fixing our budget if those non-essential employees, who are not needed during a shutdown, were given the opportunity to find their next career. Maybe if several of them had to compete for jobs in the real world, with the current obama economy, maybe there would be more a more realistic attitude about spending.

It's almost as if the people in our government don't realize that real people actually have to work for the money they continue to spend. The money just magically shows up on the doorstep. Sorry, it doesn't work that way...

From FoxNews

Even with President obama holding their feet to the fire, House Speaker John Boehner and Senate Majority Leader harry reid were unable to reach a budget deal during a meeting on Capitol Hill as a government shutdown loomed this weekend.

The meeting lasted less than an hour but the two "agreed to continue working on a budget solution," spokesmen for the two said in separate statements.

Earlier Tuesday, a visibly frustrated obama said that if the meeting between the two leaders does not lead to a deal, he would summon the pair back to the White House Wednesday.

"Myself, joe biden, my team -- we are prepared to meet for as long as possible to this resolved," obama said during a surprise appearance at the White House briefing room.

obama also said that democrats have agreed with Republicans on how much to cut from the budget and that he won't accept another temporary spending bill that House Republicans are rallying behind to keep the lights on for another week.

"We've already done that twice," obama said. "That is not a way to run a government. "I can't have our agencies making plans based on two-week budgets."

obama said both sides are closer than ever to a deal and that politics shouldn't stand in the way of preventing a shutdown that would harm the economic recovery.

"There is no reason why we should not get an agreement," obama said. "At a time when the economy is just beginning to grow, the last thing we need is a disruption that's caused by a government shutdown."

In a statement following the private White House meeting earlier Tuesday, Boehner had said there was no deal. And he warned that House Republicans "will not be put in a box" of accepting options they refuse to endorse.

Boehner has proposed an agreement that would keep the government running for one more week and slash another $12 billion in spending. The GOP-led House has already passed a pair of stopgap bills, so far cutting $10 billion from an estimated $1.2 trillion budget to fund the day-to-day operations of government through Sept. 30.

obama said he would only accept another short-term funding extension, of two or three days, in order to get a longer-term deal through Congress. But he ruled out a longer extension to allow negotiations to continue.

"What we are not going to do is once again put off something that should have been done months ago," the president said.

Read the rest at the link above...

March Madness: U.S. Gov't Spent More Than Eight Times Its Monthly Revenue

Read the headline, the government spent 8 times more than it took in, and that is just in March. These people have gone crazy, with our money. If this isn't a recipe for disaster I don't know what is. If nothing else, this should be an indication that the federal budget has to be fixed NOW, not later down the road, because later never comes...

By Terence P. Jeffrey - CNSNews

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, 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.

Read the rest at the link above...