I confess to being a total ignoramus about economics and I usually rely on David Goldman or David Malpass to explain things to me. On the shutdown I have wondered what really happened? Was anyone hurt? Restaurants and movies and theaters were full; cars were on the road; traffic lights worked and to my knowledge no ambulances or garbage trucks were halted. Did we save any money while the government was shut down? Well Daniel Greenfield sums it up.
3 Weeks of Government Shutdown Cost 2.5 Days of Government Spending
The latest media talking point is about the “cost” of the shutdown.
It’s ironic that the allies of an administration that triggers constant fiscal showdowns over its refusal to stop spending insane amounts of money that we don’t have are now pretending to be concerned about the cost of something.
Their latest revelation is that the shutdown may have cost… get ready for it… up to $24 billion.
That’s right. A whole $24 billion. In some pre-Obama universe that was maybe a lot of money. But in the Obama Era, that’s 2.5 days worth of government spending.
Every day, the U.S. government takes in $6 billion and spends $10 billion. This means that every day the federal government spends $4 billion more dollars than it has.
Three weeks of government shutdown cost 2.5 days of government spending. Six days of deficit spending.
If the government had actually shut down, we would have saved a ton of money. But we didn’t. And that’s just depending on which balance sheet we use.
Here’s what the naked shutdown really looked like.
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.
In 2 days, more money was stolen than the whole “cost” of the shutdown. More money was spent at a deficit in the first two days of the government shutdown than the cost of the shutdown.
And more than twice as much money was spent.
That $24 billion? It wouldn’t even count as pocket change to an administration that treats a trillion dollars as play money. Obama’s 2012 budget was nearly 4 trillion dollars. To put that into perspective. Imagine that 24 billion dollars is actually just 24 bucks. Then Obama’s demented 2012 budget was 4,000 dollars.
While Obama blows trillions, the media suddenly pretends to care about a measly 24 billion dollars even as defends his right to spend unlimited amounts of taxpayer money and debt.