After cutting through the “clever” misdirections contained in the final Monthly Treasury Statement of the federal government’s fiscal year just ended on September 30, it’s clear that that Uncle Sam’s true financial situation deteriorated at an even faster rate in fiscal 2010 than it did during fiscal 2009. What I choose to describe as Uncle Sam’s operating deficit was 19% higher. You read that right.
Let’s start with receipts.
In fiscal 2008, before deducting IRS-generated stimulus payments that were substantively disbursements, the government took in over $2.6 trillion. In recession-dominated fiscal 2009, collections dropped about 20% to $2.104 trillion. In fiscal 2010, the supposed year of economic recovery, receipts were $2.162 trillion, a less than 3% increase that was over $100 billion short of the $2.264 trillion the Congressional Budget Office (CBO) projected in August 2009.
Commentary on a Salon article (the link to the original article is busted) wherein someone asks “Why Can’t We Just Arrest The Tea Partiers?” Sieg Heil to you too, sweetie. Sample comment; emphasis in the original:
“I wonder if we’re likely to see a Timothy McVeigh situation,” says Nicholas Robert, an attendee originally from Australia, who basically wonders if any Tea Partiers can be arrested. “It seems to be that we’re being very polite. I wonder if there are any legal mechanisms—one that comes to mind are the provisions used to crush the Wobblies.”
I’ve eaten at Bob Evans many, many times on my sojourns east on business. They do put up a great, home-style breakfast; their biscuits and gravy are incredible, and they make a nice chicken-fried steak, too. Well worth a visit.
The young lady in autumn colors does not work for Bob Evans, nor is the photo taken at a Bob Evans restaurant. Her appearance here is purely gratuitous.
With that said, we return you to your Monday, already in progress.