New Math and the Debt Ceiling...

I read an article this morning that quoted Treasury Secretary Jack Lew as saying unless the debt ceiling is raised the government will run out of money to borrow sometime in late February or early March. Now, I've posted the numbers before- monthly our government takes in $250 billion dollars, but spends $315 billion a month. that's a $65 billion dollar shortfall every month! Our public interest obligations are about $23 billion dollars each month so we have approximately $227 billion to spend. Now as a business owner I know that if I spend more- significantly more- than I take in each month in revenues I won't last long at all. So why do we allow our government to operate this way? I posed this question to my accountant, an elderly man, and his response was quick and harsh- "Because the people haven't revolted yet! Do you have an AK-47 and plenty of ammo? The day is coming and it's coming soon!"
I had an interesting idea this morning. Try this on- if we quit over spending by $65 billion every month and instead took that money and gave one million dollars to an elderly person on social security, or a homeless person, or someone who needed help, then taxed that million at 28% this would be the result:
Every month we would create 65,000 new millionaires.
*At the end of one year we would have created 780,000 new millionaires.
*At the end of one year we would have created $218.4 billion dollars in new revenue.
*If we continued this program for one decade we would have helped 7.8 million people and created $2.184 trillion dollars in revenue.
*This does not include any new revenues that might be created by the investment of these funds, or new jobs, businesses, or other private sector actions. What a stimulus for our economy- and it would be a tremendous example of government supporting the private sector!
I am certain that I could find far more than $65 billion in fat in our government budget- bringing our spending into balance with our revenues- and take the excess and invest it in our people who truly need help. We know there is billions spent in fraudulent welfare, social security disability, Medicare- virtually every government-run handout program is not well monitored and is rife with fraud. (If it was well monitored we wouldn't have the fraud!).
Perhaps it should be mandatory that before running for political office one should have to take a basic course in accounting and one in business. We have many, many lawyers in politics- what we need are sound businessmen and accountants who realize how to balance a budget...
Food for thought...