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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (132773)	4/7/2013 8:18:09 AM
From: RetiredNow	1 Recommendation Read Replies (1) \| Respond to of 149317

First of all, you published an article about January. That was two months ago. Second of all, you are looking at budget numbers, which don't take into account spending outside of official budgets, like war appropriations and many other government expenditures. If you want to understand the true deficit, then you need to look at the growth of our total outstanding debt, which contains all deficit spending. Every penny of deficit spending must be borrowed by the Treasury through the sale of Treasuries at auction. The cash proceeds of the sale of Treasuries then can be used by the Treasury to pay Congress' bills So comprehensive deficit spending shows up as increases in debt. This is accounting 101. Here's how much we've spent in the last 12 months: Debt as of April 4, 2012 = $15,617,722,544,078.95 Deb as of April 4, 2013 = $16,798,051,589,934.68 Total Deficit Spending over last 12 months = $1,180,329,045,855.73 Here's how much we've spent in the first 3 months of 2013: Debt as of Dec 31, 2012 = $16,432,730,050,569.12 Deb as of March 31, 2013 = $16,792,120,009,606.80 Debt in first 3 months = $359,389,959,037.68 Here's how much we're on track to spend in 2013, if the first 3 months spending rate continues: Multiply by 4 to estimate debt for 2013 = $1,437,559,836,150.72 These are the inconvenient facts that you are choosing to ignore.