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Government Spending

Government Spending

The Federal Government borrows 46 cents of every dollar it spends.

Under President Bill Clinton, the Govt. spent $537 million per day.

Under President G.W. Bush, the Govt. spent $1.6 billion per day.

Under President Barak Obama, the Govt. is spending $4.1 billion per day.

We do not have a revenue problem. We have a spending problem.

2011 Federal Budget Deal
Federal Budget: $3,820,000,000,000

(3.82 Trillion)
Income: $2,170,000,000,000 (2.17 Trillion)
New Debt: $1,650,000,000,000 (1.65 Trillion)
Amount Cut: $8,500,000,000 (38.5 Billion) – about 1% of the total budget.

Harry Reid is calling this a “historic amount“. The President said it is a “historic deal”. John Boehner simply said, “We’ve come to an agreement”.

Let’s Put This In Perspective. It helps me to think about these numbers in terms that I can relate to.

Let’s remove nine zeroes from those numbers and pretend this is a monthly household budget for the fictitious Jones family.

Amount of money the “Jones`s” family spent this month: $3,820

Total income for the “Jones`s” family this month: $2,170

Amount of new debt added to the credit card this month: $1,650

Outstanding balance on the credit card: $14,271 (This represents our national debt).
So last week, the “Jones’s” sat down at the kitchen table and agreed to cut $38 from their monthly budget. A historic amount!

R U Impressed?
Me neither!!!!



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