Great News: 16.4 Trillion debt ceiling to be hit Dec 31
According to the math whiz that runs the Treasury Department, we will hit the debt ceiling sooner than we expected. Don’t worry though through some accounting gimmicks he can make us reach Feb. Maybe.
Some how the guy who couldn’t figure out turbo tax can figure out to the day we will run out of money. Something smells fishy here. So at the same time that Obama wants a removal of the Debt Ceiling and at a very least wants a clean increase for the next few years, all of a sudden all those predictions to hit the ceiling come Feb were wrong. You mean to tell me the Federal Government can’t add? Shocked I tell you. Shocked!
Well now lets look at the budget and help Turbo Tax Timmy find some more money. All totals from the 2013 proposed budget from Obama.
Now let’s look at where our money is going there Timmy. I’m sure if we look hard we can find something.
525.4 B to Defense
820 B to SS
523 B to Medicare
283 B to Medicad
DHS gets 39.5 B, well that’s useless.
Education gets 69.8 B, and for what? Useless teachers and unions indoctorinating our children.
DOE gets 15.6 B, no that’s not a waste.
HHS gets 71.7 B to make sure those abortions happen.
HUD gets 35.3 B to make sure people who can’t afford homes are allowed to purchase them anyway.
The EPA gets 5 B, because they have proven to never waste funds before.
Unemployment is going to cost us 21.6 B. But it’s fine since only 11% of all claims are fraudulent after all we all know that it’s not until 15% fraud are you wasting money.
Don’t worry though it’s not as bad as it seems, I mean were only going to go 10 Billion deeper in debt to perform Teacher Stabilization, upsetting until you realize we spent 15 B last year on making sure teachers don’t fall over or something.
Of course we are going to go 2.5 Billion in debt to “strengthen” said teachers this year, of course we only spent 250 million last year.
But here is some good news, were going to waste 779 million for people to make properties with “qualifying advanced energies”. Nope no chance of that being abused.
Think that’s bad get this, were going to borrow 4.65 billion to reform abandoned buildings. That seems logical.
And finally we are going to waste 53 million in tax credits for Hybrid vehicles. Cause the market for those has proven to be so strong and resilient.
Now about the money we take in.
Let’s see if nothing changes, meaning a clean extension of the Bush tax rates were to get passed (hahahahahahaha), and we used last year as a guide (as I have proposed in my budget plan) we would have 2.469 Trillion to work with. If Obama gets exactly what he wants with the 250k tax hikes we would only add 83.4 Billion to the income. With the Sandy Relief bill costing 60.4 Billion it really would only net us 23.4 Billion extra. That also requires the same imagination that children use to believe in unicorns, to think that the economy wouldn’t take a hit and we would create the same revenue as the previous year.
That being said let’s take a look now and see how much we are going to spend. After all at the very best we have 2.492 Trillion to spend right. At least that’s how I have to do my personal accounting.
Now we know what the absolute best amount were going to have is so we have a total outlay of 3.803 Trillion. Wait. What?
Obama believes were going to take in 2.902 Trillion in 2013, for some reason, brain damage obviously doesn’t remove you from Presidential duty.
I mean what are the chances that a massive tax hike on the people creating jobs causes the economy to shrink. Oh wait, nevermind
He believes we will take in 1.359 T up from 1.165 T in 2012, and that Corp receipts will go up from 237 B to 348 B. Has anyone ever even tried to explain economics to this guy
But don’t worry if you though the 47.8 B SS lost this year was bad SS is going to bring in 677 B to pay for the 820 B in payments it’s going to have to make. Nope no problems there
I would keep going but I’m feeling nauseous and desperately need a drink after that.
Cross posted to The Handbook.