Sorry for repeating a post of mine from another thread a few days ago.
The PROBLEM is that the Democrat controlled Congress only a few months ago REFUSED to even SUBMIT a budget!!! It doesn’t get any more irresponsible than that.
NO budget = no money for the government to spend.
What the Democrats were hoping for was a bunch of continuing resolutions … meaning, just spend whatever you want to spend.
So, here’s what I posted before [modified for clarity]:
Why not standard format annual reports for Federal government, states and cities?
Found while surfing:
Why not do this for each state and the Feds and gradually expand the detail and then include the cities.
Here are the U.S. Treasury Dept’s numbers:
Item… Fiscal Year 2009 …Fiscal Year 2010 … Fiscal 2011
Revenues …$ 2104 billion …$ 2102 Billion… $?
Expenses …$ 3520 Billion …$ 3456 Billion…$?
Deficit …$1416 Billion …$1294* Billion
Debt … $12000 Billion? …$14000 Billion
GDP? … $?? …$? Billion
So, to balance the budget, we have got to cut about $1300* Billion from current year spending. Almost 1/3.
Michele Bachmann has identified one item to cut, so far, for $105 billion
Need to find another $1200* Billion in cuts.
How much in cuts have the other politicians suggested?
The politicians don’t actually tell you the actual revenues and proposed spending (budget)
They complain about what percent here or there.
But rarely tell you the actuals.
So we don’t actually have the actuals for FY 2011 or even part of the fiscal year.
We need to write in the proposed budget for FY2011. The problem is the Congress is REQUIRED to submit an approved budget by October or so of 2010 and they didn’ t do it.
So the government is getting by on a month to month basis with what they call continuing resolutions.
If you visit Yahoo Finance and look up the financials for any corporation, they have three pages for each … income/expenses; balance sheet [assets and liabilities/ debt]; cash flow
And Yahoo has it for each public corporation for three years of history, by year and by quarter.
And if you get the company’s annual report you might find as much as 10-years data.
BUT, you won’t find ANY of the actual revenues and spending for any government … not for states, not for cities, not for Federal.
You should be able to type in the zip code or postal abbreviation and get all of that data with one click of the keyboard.
Here are the data for GE
finance.yahoo.com/q/is?s=GE&annual
Why can’t you get the data for NYC or NYS or USA just by visiting Yahoo Finance and typing in the governments’ “ticker symbols”?
If not on Yahoo Finance, then some specialty Web site just for that purpose.
NYS, NYC, NJ, WI, CA, etc always talk about “budget shortfalls” but NEVER about ACTUAL revenues/receipts/income versus spending.
California doesn’t say that they have been spending $100 billion but that their tax revenues have been stagnating at $80 Billion and then dropped to $70 Billion.
If GE or BP put that out, the shareholders and the bond holders and the board of directors would fire management and the board might get fired at the next annual meeting as well.
And you can look up those financials in one second/
But not the governments’ financials.
Start small and expand the data to include debt and off-budget financing.
