US federal government spent A TRILLION $ in February ALONE!!

Pure insanity.

Monthly Federal Expenditures Topped $1 Trillion in February, Says U.S. Treasury

Monthly federal expenditures topped $1 trillion in February, says the U.S. Treasury Department. A majority of this money was disbursed to meet the government’s escalating debt obligations.

In its Daily Treasury Statement closing out February, the Treasury Department reported that the government had spent $1.009944 trillion (rounded to the nearest million) during the month.

That's a BOATLOAD of money!

From the Treasury own statement.

But eh, don't worry, 851.4 billion came in, so it's just a 158.5 billion dollar deficit for the month or 1.9 trillion deficit for the year! Just small peanuts!

I think with interest rates being so low, the US pays frankly a relatively small amount on its 14 trillion dollar debt at around 350 billion dollars per annum. I have to ask what would happen if interest rates went up a few or more percentage points.

I like how the average person finances most of this spending.

I've owed banks money before and now I'm glad I don't bank. I have also been out of a job for about a year now so I'm glad I don't pay taxes...for the most part.

I think everyone is waking up to just how grotesque the governments disposition is when it comes down to money.

A part of me wants the dollar to die so everyone will realize what a con job the government has done but then I look back on how that might not be the best thing for us right now.

Originally posted by surrealist
I think with interest rates being so low, the US pays frankly a relatively small amount on its 14 trillion dollar debt at around 350 billion dollars per annum. I have to ask what would happen if interest rates went up a few or more percentage points.

Not what WOULD happen, but what WILL happen.

Economic Armageddon is what will happen. Remember 1982? Interest rate on US bonds went in the 15%/20%/30%!

Can you imagine this kind of interest today? Economic Armageddon is too weak to describe the situation!

Just read an Article (in German) from 2004 about the FED and what they´re doing. The Dollar will crash very soon,because more and more Nations are screaming for another reserve Currency to get away from the Dollar...Well,the FED/Elite don´t want that,because they want to dominate/implement a One World Currency on their Terms...the Rumour is,the FED has most if not all of the Worlds Gold reserves...Gold backed Money anyone?

To make that happen,they have to kill the Dollar before another Reserve Currency can replace the Dollar. Thanks to our current Finance System,if the Dollar goes to Hell,most of the World will follow suit...


Little Off Topic,sorry


Edit: Vitchilo,i´m not stalking you...honestly

There is not enough gold in the world to finance that kind of debt, or to back the money floating around the world.

Something like 30 tonnes of gold is only worth about $1 billion.

Lets see. US debt this year $1,900 billion. Total US debt $14,000 billion.

Gold requirement?

1900 x 30 = 57,000 tonnes of gold for $1.9 Trillion
14,000 x 30 = 420,000 tonnes of gold for $14 trillion.

Maybe if large corporations paid their taxes instead of getting breaks instead of making people like you and me pay taxes, then there probably wouldn't be a national debt...

We have the same problem here in Canada...

Magnum

Originally posted by Magnum007
Maybe if large corporations paid their taxes instead of getting breaks instead of making people like you and me pay taxes, then there probably wouldn't be a national debt...

We have the same problem here in Canada...

Magnum

Give me a freaking break. So I'm supposed to believe what you say out of all the people? Your avatar image is insane for f**** sake. Damn. Sorry. I have a friend has a small business and he's taxed into the ground. He does business with some larger companies and they're similarly being taxed to the stone age. Businesses are being taxed too much and that's why they're all running off to other countries. The US cannot afford to raise its taxes on companies. They're already too high.

I seriously think it's our educational system. It failed. Students aren't keeping up with the rest of the world. We're falling behind because our system is outdated and now inept. It has to change.

What makes me angry is when the teachers and schools ask for more money. They already have proven they don't know how to do their job and they just want more more. I"m sorry but get your act together like everyone else has to and figure out how to make quality students walk out your doors!

Nanny-state is making us incompetent. That's part of how we're failing.

Double-post. Not sure how this happened. How do I delete this?

reply to post by Vitchilo


That's it

The money supply is about to go vertical.

reply to post by Vitchilo


And this makes it abundantly clear why cutting stuff like teacher salaries is ridiculous...and why the GOP suggestions are therefore beyond laughable. All the things they want to cut represent such a tiny portion of the spending, it's like a drop on a hot stone.

If you want to cut spending in a meaningful way, you have to cut spending at departments that spend the most...or stop handing out tax refunds to the largest US (!!!) companies.

In 2009:

- GE made $10.3bil and got a tax REFUND of $1.1bil.
- Exxon paid ZERO.
- Chevron paid ZERO.
- JPMorgan ZERO.
- Goldmann Sachs paid $14mil (lol)...while their CEO got a reported $100mil as a bonus.

Also, the US plans to spend $1-1.5 TRILLION in defence for 2011 alone...which is MORE than before. How about some defence spending cuts? Oh, I forgot, the people who could push through cuts...the politicians...can't do that because it would upset their weapon industry lobbyist friends, which would jeopardize their reelection.

Teachers' salaries are a laughably small amount compared to any of the above!! Yet Fox amongst others go on with their stupid "everyone has to cut down" message while only focusing on those departments that are spending so little, cutting would be almost pointless. What's 10% of 0.0001 of the budget?

reply to post by MrXYZ


public spending is what is causing the debt to explode.

not only do teachers salaries have to be cut, everything including your grandma's socialist security check needs to be cut.

reply to post by jonnywhite

Originally posted by MrXYZ
reply to post by Vitchilo

 

And this makes it abundantly clear why cutting stuff like teacher salaries is ridiculous...and why the GOP suggestions are therefore beyond laughable. All the things they want to cut represent such a tiny portion of the spending, it's like a drop on a hot stone.

If you want to cut spending in a meaningful way, you have to cut spending at departments that spend the most...or stop handing out tax refunds to the largest US (!!!) companies.

In 2009:

- GE made $10.3bil and got a tax REFUND of $1.1bil.
- Exxon paid ZERO.
- Chevron paid ZERO.
- JPMorgan ZERO.
- Goldmann Sachs paid $14mil (lol)...while their CEO got a reported $100mil as a bonus.

Also, the US plans to spend $1-1.5 TRILLION in defence for 2011 alone...which is MORE than before. How about some defence spending cuts? Oh, I forgot, the people who could push through cuts...the politicians...can't do that because it would upset their weapon industry lobbyist friends, which would jeopardize their reelection.

Teachers' salaries are a laughably small amount compared to any of the above!! Yet Fox amongst others go on with their stupid "everyone has to cut down" message while only focusing on those departments that are spending so little, cutting would be almost pointless. What's 10% of 0.0001 of the budget?

If you re-read my post, you will see the words LARGE CORPORATIONS
"... and that's all i have to say about that"

- Forrest Gump

reply to post by jonnywhite


This being said while oil companies get 50 billion in tax breaks why? Are they not profitable check what exxon made last quarter.

reply to post by Vitchilo


I seen a trillion spent and was like in a month! LMAO

Since Dwight Eisenhower's decision to make a Federal Highway system Americans have been forced to get car insurance. If you got your own Bond, you were exempt from getting car insurance and could cash that Bond in when you retire for retirement money.

Where are the Hundreds of Trillions Americans have been paying for Car Insurance Bonds for the last 60 years?

What would be the annual interest alone on those Hundreds of Trillions sitting somewhere's? There's a pool of money the people of Earth can't even fathom out there....and we have no idea who's sitting on that money right now.