How much revenue does the Treasury take in on average in a month? 200 billion

[Delegate2]

Despite all the rhetoric and posturing we see in the media and in Washington D.C., it is safe to say categorically that the U.S. Treasury will not default on its debt after August 2nd, even if the debt ceiling is not raised. Not only will the Treasury be able to pay interest on U.S. debt obligations, but there is money for other essential programs as well. However, there will be some serious cutting that has to happen because spending clearly exceeds revenues.

I believe a debt ceiling limit extension will be enacted. However, let’s consider what might happen if the debt ceiling limit is not raised. Here in a Q&A format is what I believe you need to know at a basic level.

Q: What is a default?


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[Zippyjuan]

That is an average- tax revenues vary from month to month. March and April bring the largest hauls. The other problem is that the bills average $300 billion a month which means that if the debt limit is not raised, one third of the US government bills will not get paid.

[Delegate2]

No that is an avg per year, there is no need to default if we just cut spending.

[Sematary]

How quickly do you think they can effect these cuts and where would you take them from? According to the research I did today, the military and the "entitlements" account for nearly 80% of the budget (both sacred cows).
I'm all for reworking Social Security, medicaid, etc... but those are long term solutions - nothing that can be fixed over night.
Likewise, the military - we could move our troops from point A to home but it would literally take YEARS to effect the changes and would have dramatic impacts on the economies of nations all over the globe - and then (of course) us - not to mention all the unemployed ex soldiers looking for a paycheck that doesn't exist.
So where would you cut?
How would YOU fix this?
The debt ceiling increase HAS to happen. There is no choice. The solutions are there but are long term and they include revenue increases or there is no solution. The dumbasses in Washington HAVE to know this. If they don't, then they are more retarded than I gave them credit for.

[Zippyjuan]

If you leave the debt ceiling in place for one year and cut only from the discressionary part of the budget, at the end of the year that discressionary part will be zero. That includes all military spending too. You would basically have Social Security and welfare and interest on the debt taking all you remaining tax dollars. This is what your budget will look like:


Mandatory spending: $2.173 trillion (+14.9%)

$695 billion (+4.9%) – Social Security
$571 billion (+58.6%) – Unemployment/Welfare/Other mandatory spending
$453 billion (+6.6%) – Medicare
$290 billion (+12.0%) – Medicaid
$164 billion (+18.0%) – Interest on National Debt


http://en.wikipedia.org/wiki/2010_United_States_federal_budget