Skip to comments.Why our government runs out of money
Posted on 10/18/2013 11:05:30 AM PDT by Kaslin
Just in case you were not already sufficiently outraged by the intransigence of the President and Democrats to restrain federal spending however modestly, here are three more things to elevate your blood pressure.
"Taxpayers for Common Sense says the bill would increase total authorized spending by $1.2 billion." more
"As U.S. officials warned that the technology behind Obamacare might not be ready to launch on October 1, the administration was pouring tens of millions of dollars more than it had planned into the federal website meant to enroll Americans in the biggest new social program since the 1960s."
"A Reuters review of government documents shows that the contract to build the federal Healthcare.gov online insurance website - key to PresidentBarack Obama'ssignaturehealthcare reform- tripled in potential total value to nearly $292 million as new money was assigned to the work beginning in April this year."
"'Why this went from a ceiling of $93.7 million to $292 million is hard to fathom,' said Scott Amey, general counsel at the Project on Government Oversight, a Washington, D.C.-based watchdog group that analyzes government contracting." more
"Just like GM, theU.S. governmenthas decided to give millions to another part of the auto industry only this time its inAfghanistan."
"In fact, a U.S.-led international group spent $230 million on spare vehicle parts for theAfghan National Armyand other security agencies then lost them."
"Not knowing where the parts were, the group ordered up an additional $138 million in parts a watchdog said likely arent needed and some of which are now sitting in warehouses with boxes stacked to the ceiling." more
I’ve heard that even if you confiscated 100% of all income earned by the top 1%, levying a 100% marginal rate, that the government would still be running deficits, and still have an incredible $17 trillion acculumated debt. You could confiscate wealth from the wealthy, and still not solve the fiscal problems in Washington, DC
Because they spend too much?.......just a guess..................
I recall that it’s worse than than, but yes, a 100% income tax on the top 1% (incomes of a little more than $250K) wouldn’t cover the annual deficit.
The 3-4 TRILLION dollars that makes up the total accumulated wealth of the top 1% might just barely cover one year’s federal spending.
Who would they come after the next year?
Well said. We could start confiscating wealth, and it would only cover federal spending for a short period of time. Then where to go?
I’ve heard that the liberals have their eye on IRA and 401K type accounts. There are trillions in such accounts, saved up over time by mostly middle class people. Imagine a liberal such as Obama wanting to merge such accounts into Social Security, for example. I’ve heard some talk about such unthinkable proposals.
Why does the government run out of money you ask?!: OBAMA and his thinking the government monies is for him and his dippy wife!!!!
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