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The 7-Eleven Presidency

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.

Let’s take a look at the scorecard, based on official government figures. In fiscal year 2012 (which ended on September 30), the federal government acquired $2.449 trillion in tax revenue and other receipts. It spent $3.538 trillion — 44 percent more than it had available to spend. The resulting deficit was $1.089 trillion.

In fiscal year 2011 (see table S-1), the federal government acquired $2.303 trillion in tax revenues and other receipts. It spent $3.603 trillion — 56 percent more than it had available to spend. The resulting deficit was $1.3 trillion.

http://www.weeklystandard.com/blogs/7-eleven-presidency_654846.html 


I saw a few polls saying Romney is now above the 200 EC tally...people are starting to wake up.

We need 1.3 trillion in new tax revenue per year! That is only 9% of the GDP of the nation.

Game over.....austerity is gonna really suck!

16 trillion what do ya get.......


Another year older and deeper in debt.

Crank up the abortion factories....rev up the death panels...and for goodness sake...keep the "candy" coming!


See, this is the part where irrational people that want taxpayer funded abortions and ever increasing non-funded retirement benefits hit that moment of Clarity..."Uh, wow...what were we thinking? In order to keep the plates spinning we need more rubes!!!"

But, hey...at least we still have PBS and NPR!!!!

President Printmore