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Thoughts While Shaving

 

Thoughts While ShavingMemorial Day weekend is expected to be hot, temps in the 90s.  Total rainfall for this week at the Hester household was 1.5 inches.  (as of 6AM Thursday)

Lots of budget talk at all levels of government this time of the year.

I was curious about Fed numbers, so I Google US budget.  The latest numbers from this source was for FY 2015.

Total US Budget $3.8 Trillion.

Revenue sources:
Income Tax                    1.48T
Corporate Income Tax   342B
Other                              156B
Custom Duties                35B
Excise Taxes                  38B
55%

Trust Funds                    1.13T
Social Security & Medicare Taxes  1.07T
Excise Taxes                  58B  (?)
Custom Duties                1.7B (?)
Other                               2B
30%

Borrow                            583B
16%

Where the money goes:
Interest on Debt              229B     16%

Discretionary Spending  1.11T     29%
(Breakdown):
Military                           598B
Other                             276B
Education                      70B
Housing & Community   63B
Internal Affairs               41B
Energy & Environment  39B
Transportation               26B

Mandatory Spending    2.45T       65%
(Breakdown):
Medicare & Health        986B
Social Security              895B
Other                             433B
Food Assistance           104B
Unemployment              36B

Not sure of totals, close enough for government budgeting, I suppose.  Google US Budget for more info.

It’s clearly a budget.  It’s got a lot of numbers in it.   George W. Bush

Balanced budget requirements seem more likely to produce accounting ingenuity than genuinely balanced budgets.  Thomas Sowell

The budget tells us what we can’t afford, but it doesn’t keep us from buying it.  William Feather

robert g hester
rgh4612@gmail.com
910-876-2322

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