Skip to comments.What a ‘Shutdown’ Means: $63B Spent, $26B Taxed; $1.6B Borrowed; $1B Paid in Salaries—in Just 2 Days
Posted on 10/04/2013 10:48:57 AM PDT by Olog-hai
In general terms, politicians and the press may be referring to what has been happening in Washington, D.C., over the past few days as a government shutdown or a partial government shutdown, but the actual accounting sheets of the U.S. Treasury show that massive amounts of taxed and borrowed money were flowing in and out of the government during the first two days of fiscal 2014.
To put things in perspective, in the first two days of fiscal 2013 (Oct. 1-Oct. 2, 2012), when there was not a shutdown, the federal government spent $124.409 billion, collected $29.057 billion in taxes, paid out $2.542 billion in federal salariesand sold $100.91 billion in new Treasury securities (or government debt).
(Excerpt) Read more at cnsnews.com ...
At least those essential gubbamint employees, Bert and Ernie are still getting paid.
We spent $124.409 billion
and only $2.542 billion was spent on federal salaries.
Did the rest go to al Qaeda?
We are off to a much more sustainable start for the year.
Those furloughed aren’t being missed, so we should introduce a bill to pay them their vested retirement, eliminate their positions and halt the H1-B visa program so they can find jobs in the private sector.
I agree, this is the worst explanation of finances I have seen. We are left to assume that the 124.4 billion expenditures were SS & Medicare payouts, or bond interest payments. Maybe Retirement payments or disbursements to state and local governments. It could be just about anything with the unconventional way the feds keep OUR books.
Salaries are a trivially small part of the total cost of government. Most of it goes to either contractors, various forms of aid payments, and purchasing stuff.
What would the effect be if every conservative worker in the country started claiming 12 dependents? And every small business showed a quarterly loss?