1. Obama’s Arithmetic
(Idiot version of the 2012 Federal Budget)
• Income= $ 100
• Expenses= $ 154
o Health- $ 34.33
o Social Security- $ 31.59
o War- $ 29.06
o Food stamps and tax credits- $ 23.52
o Interest on credit card- $ 9.12
o Other- $ 26.38
• Oops, I spent too much; credit cards= $ 54
o China, Pay Day Lending= $ 11.61
o Japanese Credit Card Inc.= $ 11.28
o ULoveOil Lending Co. (owned by Venezuela, Iran, Libya etc.)= $ 2.65
o Other Credit Cards= $ 28.46
Research by Bishan Abeysekera using Treasury Dept, and Government Budget Data
2. Obama’s Arithmetic
(The Real 2012 Budget Numbers)
• Income (Taxes etc.)- $ 2.45 trillion
• Expenses- $ 3.8 trillion
o Health (Medicare/Medicaid etc.)- $ 846.1 billion
o Social Security- $ 778.6 billion
o National Defense- $ 716.3 billion
o Income Security*- $ 579.6 billion
o Net Interest- $224.8 billion
o Other- $ 749.1 billion
• 2012 Federal Budget Deficit- $ 1.33 trillion
• Total National Public Debt- $ 16 trillion
• Countries that hold US debt as of July 2012-
o China- $ 1.15 trillion
o Japan- $1.12 trillion
o Oil Exporters (Saudi Arabia, Venezuela, Iran, Libya etc.)- $ 262 billion
o Others- $ 2.82 trillion
* Unemployment, Food stamps, Making work pay etc.
Research by Bishan Abeysekera using Treasury Dept, and Government Budget Data
