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Economy
B.O. spent $11 for every $7 revenue
2012-10-19
In the wake of the Treasury Department's newly released summary of federal spending for 2012, it's now possible to detail just how profligate the Obama years have been. Here's the upshot: Under Obama, for every $7 we've had, we've spent nearly $11 (or, to be more exact, $10.95). That's like a family that makes $70,000 a year -- and is already knee-deep in debt -- blowing nearly $110,000 a year.

To illustrate this a bit differently, for every Jackson ($20) we've had available to spend under Obama, we've also borrowed a Hamilton ($10) and a Washington ($1) and spent those too. The only thing is that, under Obama, we've (literally) spent the equivalent of 342 billion Jacksons, 342 billion Hamiltons, and 342 billion Washingtons -- borrowing all of the Hamiltons and Washingtons.
Posted by:Fred

#8  Start with firing the bunny inspectors and the Dept. of Education SWAT teams.
Posted by: Anguper Hupomosing9418   2012-10-19 18:48  

#7  ...I'd recommend a phased withdraw. Working backward from calendar [last in, first out], start eliminating federal agencies that have come in being till you reach a point where income matches outlays.
Posted by: Procopius2k   2012-10-19 17:28  

#6  a look at the deficit too, the impact of future commitments, and the growth of entitlements, welfare, and the interest on the debt
All of that is part of spending $11 for every $7 received in revenue, these issues are one and the same.
Solving US financial profligacy is very much like achieving 'victory' in Afghanistan -- no easy way out and there will be a great deal of kicking, screaming and foot-dragging no matter what is done or who has to do it.
Posted by: Anguper Hupomosing9418   2012-10-19 11:59  

#5  B.O. spent $11 for every $7 revenue

..but he's been making it up in volume. Just ask Timothy Geithner or Ben Bernanke.
Posted by: Procopius2k   2012-10-19 11:45  

#4  Spending $11 bucks for every $7 revenue? That is the essence of Champ's economic problems? Better also take a look at the deficit too, the impact of future commitments, and the growth of entitlements, welfare, and the interest on the debt. Taxmageddon hits in January and ObamaCare in 2014. All those people who voted for the "O" better take another look at the cost of voting for him. There is no free stuff only the shuffling around of who pays the bill. We cannot afford the economy we have.
Posted by: JohnQC   2012-10-19 11:44  

#3  Obama's plan -

1. Spend everything anyone will lend you.

2. Declare Sharia. Outlaw interest.

3. Inflate the currency and pay back the principal only at 1,000th of the value.

/sarcasm
Posted by: Iblis   2012-10-19 11:17  

#2  That link in #1 reminded me of how old-time physicians diagnosed diabetes mellitus - before there were any expensive lab tests.
Posted by: Anguper Hupomosing9418   2012-10-19 11:16  

#1  No worries, ObamaCare will cover all types of treatments and procedures.

Klik
Posted by: Besoeker   2012-10-19 02:13  

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