(CNSNews.com)
- 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.
According
to the Daily Treasury Statement for Oct. 2, which was released yesterday at
4:00 p.m., the Treasury spent a total of $63.262 billion in the first two days
of fiscal 2014. At the same time, it took in $25.681 billion in tax revenue.
The
Treasury also sold $1.648 billion in new Treasury securities--which is
government debt.
Among the
things, the federal government spent money on during the "partial
government shutdown" was $1.129 billion in salaries for federal employees.
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 salaries---and sold $100.91 billion in new Treasury securities (or
government debt).
When the
shutdown is over, the federal government will be able to get back to business
as usual--and, depending on the outcome of the conflict over Obamacare between
the House Republicans and President Obama and Senate Democrats--the government
may or may not be able to add to its daily activities all those things that it
will take to implement and pay for Obamacare.
CNSNews.com is not funded by the government like NPR. CNSNews.com is not funded by the government like
PBS.
- See more at:
http://www.cnsnews.com/news/article/terence-p-jeffrey/what-shutdown-means-63b-spent-26b-taxed-16b-borrowed-1b-paid-salaries#sthash.iWLFETq1.dpuf
Terence P. Jeffrey
No comments:
Post a Comment