Gubbermint math.

[SunnyD]

Reading this article on the estimated deficits coming up, and came across this part that really astounded me:

The shrinking economy has led to a sharp drop in estimated tax revenues of $166 billion, which is largely responsible for the deficit, along with big outlays from the Wall St. bailout.

The agency expects the $700 billion bailout to actually cost taxpayers $189 billion, with the costs reflected in its estimates for this year and next. CBO estimates take into account the net value of the assets the government holds from financial institutions.

So $700 billion = $189 billion in which only $166 billion of it will be realized by tax revenue? Can someone please tell me how I can use this kind of math to pay off my own bills? Please?

 

[tefleming]

Originally posted by: SunnyD
Reading this article on the estimated deficits coming up, and came across this part that really astounded me:

The shrinking economy has led to a sharp drop in estimated tax revenues of $166 billion, which is largely responsible for the deficit, along with big outlays from the Wall St. bailout.

The agency expects the $700 billion bailout to actually cost taxpayers $189 billion, with the costs reflected in its estimates for this year and next. CBO estimates take into account the net value of the assets the government holds from financial institutions.

So $700 billion = $189 billion in which only $166 billion of it will be realized by tax revenue? Can someone please tell me how I can use this kind of math to pay off my own bills? Please?

Well, you need a large army and probably some nukes.

 

[skace]

"CBO estimates take into account the net value of the assets the government holds from financial institutions."

Did the government acquire assets via the bailout?

 

[SunnyD]

Originally posted by: skace
"CBO estimates take into account the net value of the assets the government holds from financial institutions."

Did the government acquire assets via the bailout?

Assets need to be purchased with cash. Also, the Treasury Dept. didn't take into account those assets. I love how nobody in the guv is on the same page.