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Sequester Cuts and Jokes

In Economics,General on June 18, 2013 by Robert Burke

Michael Lombardi, of Acting-Man blog, had the most interesting post today about our Federal Deficit.  To frame this properly I am going to first reference http://www.dailyjobcuts.com/ (yes Gov. Walker- this is where I find all those layoffs like the one about Caterpillar laying off 1/3 of it’s manufacturing workers in Milwaukee last week- we’re sure the EDC is “all over it”) where a read through shows a steady growth in layoffs in two areas, healthcare and education, over the last 3 months.  So how are we doing on that whole “sequester” thing and balancing the budget?  Well, according Michael, not so good.

Not so long ago, the Congressional Budget Office (CBO) said it expected the U.S. government to register a budget deficit in the current fiscal year of $642 billion.

But hold on a minute…

The budget deficit so far (as of May 31, 2013) has already hit $626.3 billion, and we still have four more months to go in the government’s current fiscal year!

Since the beginning of the U.S. government’s current fiscal year 2013, which began in October of last year, the government has posted a budget deficit in six out of the past eight months.

The Department of the Treasury just reported the U.S. government registered a budget deficit of $139 billion for the month of May. The federal government took in $197 billion and paid out $336 billion for the month. (Source: Department of the Treasury Financial Management Service, June 12, 2013.)

Comparing it to last year, May 2013’s budget deficit was 11% higher than that of May 2012.

I’m sure the Wisconsin blue team doesn’t want to talk about Obamacare’s affect on the budget situation as Wisconsin’s Ministry Healthcare takes cuts deep and overall healthcare premiums prepare to sky-rocket.  Nor does Wisconsin’s red team, some of whom have been warned of the consequences ahead and have fail to act on a state level, want to talk about the federal budget problems Bush and Cheney started with Prescription Drug Coverage.

I don’t blame those supporting the blue team for not switching to the red team, and vice versa, but it begs the question: When will it be obvious enough that the two party system is a mirage and a solution will not be forthcoming from these puppets in Washington?

In the mean time I do have a joke to tell.
The Joke: Snowden, the man who revealed the mass surveillance of America, just let loose Sunday that America was spying on all of the parties at the 2009 G-20 summit.

The Punchline: At about 8 PM Monday, America joins the party at the G-8 summit in England.  I’m sure no one there wants to know why we were spying on our allies (not enemy’s).

OH, And tapping then-Russian leader Dmitry Medvedev’s satellite calls will surely be overlooked.

Cheney says he’s a Chinese spy so he must be telling the truth.

Peace friends.

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