general terms, politicians and the press may be referring to what has
been happening in Washington, D.C., over the past few days as a
government "shutdown" or a "partial government shutdown," but the
of the U.S. Treasury show that massive amounts of taxed and borrowed
money were flowing in and out of the government during the first two
days of fiscal 2014.
According to the Daily Treasury Statement for Oct. 2, which was
released yesterday at 4:00 p.m., the Treasury spent a total of $63.262
billion in the first two days of fiscal 2014. At the same time, it took
in $25.681 billion in tax revenue.
The Treasury also sold $1.648 billion in new Treasury securities--which is government debt.
Among the things, the federal government spent money on during the
"partial government shutdown" was $1.129 billion in salaries for federal
employees.
To put things in perspective, in the first two days of fiscal 2013
(Oct. 1-Oct. 2, 2012), when there was not a "shutdown," the federal
government spent $124.409 billion, collected $29.057 billion in taxes,
paid out $2.542 billion in federal salaries---and sold $100.91 billion
in new Treasury securities (or government debt).
When the shutdown is over, the federal government will be able to get
back to business as usual--and, depending on the outcome of the
conflict over Obamacare between the House Republicans and President
Obama and Senate Democrats--the government may or may not be able to add
to its daily activities all those things that it will take to implement
and pay for Obamacare.
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