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February 2010

 

What an exhausting shortest month of the year.The first two weeks I spent reading economics books from the library that were educational but of little use this month, the second two weeks I spent balancing the federal budget.Although I had planned to do my international atlas as scheduled, I hadnít done my federal budget for the beginning of the year and assumed it would be safer to grab the gun first, using my new amended U.S. Constitution, before braving the many faults in the cruel hard world, of the post financial and economic crisis, where for the last two months the earthquakes have been all my fault. Believe me it was no easy task, but I worked sixteen hour days for the last week and it is done, FY 2011 and 2012 federal deficits are within 3% of GDP, hands down.The added complexity of the new federal fiscal environment only serves to make my budget more commanding and politically correct. We are free to ponder such things as why we donít have thirteen month years like the lunar calendars, four weeks fits into twenty eight days as perfectly as my budget directs the operations of the federal government.But there is more work to do.I have taken notes and hope to produce an American economic history, economic overview and update my international atlas this month, all before the equinox, and I have to be paid to secure the integrity budget.Before I go to skulk in my self imposed exile, I would like to issue a very special congratulations to the newlyweds, I am sorry to be such a stranger, but I would like to stay out of danger, and donít want to crash the wedding any worse than the Chilean fault already has, I am sorry I do not to have anything more valuable to give than a few trillion dollars of lead, but all the same, wishing the two of you the very best fame, fortune and romance anonymity can buy, Shalom. ††††††

 

Federal Budget in Balance FY 2011: Comparison of Bush and Obama HA-28-2-10

 

The agency financial reports have been reviewed and the budget deficit can be reigned in to an acceptable 2.8% of GDP in FY 2011 and 1.1% of GDP in FY 2012 but the rights to this Statement must be purchased for the reasonable fee of $1,000 that can be recouped selling $100 cognizance bonds to the agencies.The $1.4, $1.5 and $1.2 trillion budget deficits of FY 2009-2011 are the largest on record in numerical value and second largest as a percentage of GDP after WWII, not including the costs of the Confederacy during the Civil War.Tabulating the entire cost of the American Recovery and Reinvestment Act in FY 2009 did increase the FY 2009 deficit from $1.4 trillion to $1.6 trillion, 9.8% of GDP to 11.3% of GDP, even higher than the President dared to go, but it did account for the debt that had already been financed and enabled the federal government to make a Recovery from not one but two massively subversive bailout fail outs, the actual cost of FY 2009, never to be born again.With Recovery Act capital to soften hardship agencies enjoy financial stability under reasonable 1-5% growth rates using 2008 as a base year.Many agencies did this themselves, other like OPM with no FY 2011 budget, has been over-reported by OMB for years, the Department of Labor has been over-reported during this crisis, not to begrudge much needed unemployment benefits, others like SSA and DHS are limited to OMB appropriation levels.DOE needs to pay for the Low Income Energy Program to control energy prices. The entire column Defense Ė Civil is a duplicate of VA benefits.Congress is punished with 2007 levels of revenue until they produce a deficit less than 3% of GDP.The social health insurance agenda is censured until its cost would not cause more than a 3% deficit, FY 2012, NHI is okay.HHS spending growth is limited to an annual 2.5% from 2008 and health industry inflation limited to 3% by law.The Judiciary and Justice are punished with 1% levels of growth.The $200 billion annual DoD lending estimate is forfeit to the General Fund and the OCO is terminated at the end of FY 2011 for a DoD budget of $400 billion, world peace and a $214 billion deficit, 1.2% of the GDP, in FY 2012.An estimated $200 billion TARP proceeds shall be returned in the beginning of FY 2011 when a disciplined administration could enjoy a $427 billion deficit, 2.8% of GDP, not quite enough for social health insurance, but much better off than the year on the books with a $1.067 trillion deficit, 6.9% of GDP despite $200 billion in TARP funds.In other words, this document can liberate the United States to enjoy the entire second half of the Presidentís first term in prosperity - the ideal of a balanced budget and world peace.

 

Tony Sanders

sanderstony@live.com