March Madness: U.S. Gov't Spent More Than Eight Times Its Monthly Revenue

[Geee]

CNSnews:


(CNSNews.com) - The U.S. Treasury has released a final statement for the month of March that demonstrates that financial madness has gripped the federal government.

During the month, according to the Treasury, the federal government grossed $194 billion in tax revenue and paid out $65.898 billion in tax refunds (including $62.011 to individuals and $3.887 to businesses) thus netting $128.179 billion in tax revenue for March.

At the same, the Treasury paid out a total of $1.1187 trillion. When the $65.898 billion in tax refunds is deducted from that, the Treasury paid a net of $1.0528 trillion in federal expenses for March.

That $1.0528 trillion in spending for March equaled 8.2 times the $128.179 in net federal tax revenue for the month.
The lion’s share of this federal spending went to redeem Treasury securities that had matured during the month—most of which were short-term Treasury bills that have terms of one-year or less.

In fact, during March the Treasury redeemed $705.3 billion in Treasury securities of which $623.9 billion were short-term bills with a term of one year or less.

After the disbursements made to pay off the $705.3 billion in loans that came due in March, three of the other top four federal spending items for the month were entitlements programs. The other top item was payments to defense contractors.

[AceRimmer]

I may be incorrect, but isn't printing money to buy treasuries, like Geithner and Bernanke are doing, what led to fall of the Weimar Republic?