What is wrong with the federal governmet? The problem is obvious to everyone when one continually spends more than they take in. However, to do nothing is not madness, it’s criminal. Welcome to Obamanomics …
As reported at CNS News:
During the month, according to the Treasury, the federal government grossed $194 billion in tax revenue and paid out $65.898 billion in tax refunds (including $62.011 to individuals and $3.887 to businesses) thus netting $128.179 billion in tax revenue for March.
At the same, the Treasury paid out a total of $1.1187 trillion. When the $65.898 billion in tax refunds is deducted from that, the Treasury paid a net of $1.0528 trillion in federal expenses for March.
That $1.0528 trillion in spending for March equaled 8.2 times the $128.179 in net federal tax revenue for the month.
This is not March Madness … it’s government insanity!
This is why House Republican Paul Ryan is putting together a comprehensive plan that will attack the fiscal problems that face the United States. Some one has to stand up and act in a courageous manner and show leadership, it is obvious that the Democrats and President Obama do not. The time for political game playing is over, the time for actually caring about the future of America is at hand. This is why 57% of Americans are fine with a partial shutdown of the federal government if that’s what it takes to get deeper cuts in federal government spending.
Congress is currently embroiled in a funding fight over how much to spend on less than one-fifth of the federal budget for the next six months. Whether we cut $33 billion or $61 billion—that is, whether we shave 2% or 4% off of this year’s deficit—is important. It’s a sign that the election did in fact change the debate in Washington from how much we should spend to how much spending we should cut.
But this morning the new House Republican majority will introduce a budget that moves the debate from billions in spending cuts to trillions. America is facing a defining moment. The threat posed by our monumental debt will damage our country in profound ways, unless we act.