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Here’s What You Could Buy With June’s Federal Budget Deficit

Of course, June’s deficit represents just a small fraction of our overall national debt.

Michael Brochstein/Sipa USA/NewscomMichael Brochstein/Sipa USA/NewscomThe Treasury Department recorded a federal budget deficit of $74.9 billion in June, an astronomical number that actually represented a significant decrease from the same month last year.

To date, the federal government has racked up a deficit of $607.1 billion in the 2018 fiscal year, which ends on September 30. The budget shortfall has risen about 16 percent from the same period last year, when it was at $523.1 billion. But this June's deficit was actually 17 percent lower than last June's shortage of $90.2 billion.

Still, $74.9 billion is a big number. How big? Well, to give you an idea, here are some things you could buy with all that dough:

  • 340 million ounces of "medium to high-quality" marijuana in Colorado, which costs about $220 an ounce, according to High Times.
  • 187 million Bear Creek Arsenal AR-15 semi-automatic rifles, which currently go for $399 apiece on ClassicFirearms.com.
  • A pair of Washington Nationals season tickets at their "most expensive price level" for more than 1 million years' worth of games, according to The Atlantic (of particular interest if you're Judge Brett Kavanaugh). One such seat costs about $35,000 per season.
  • A 2,565-year stay at the Hotel President Wilson's Royal Penthouse Suite in Geneva, Switzerland. According to Travel + Leisure, a one-night stay in the suite starts at about $80,000.
  • Almost 75 million iPhone Xs, which will set you back $999 a pop.
  • 1,070 Gulfstream G-650 private jets, which start at around $70 million each.
  • 37.45 billion Bacon McDoubles at McDonald's. The sandwiches only cost $2 each, which really isn't bad for two beef patties, cheese, and bacon.

The federal government's deficit for just one month represents only a small fraction of our national debt, which currently exceeds $21 trillion. The Congressional Budget Office projected last month that the national debt could surpass 152 percent of the annual gross domestic product by 2048, and Social Security will likely be insolvent by 2034.

Maybe Congress should spend less money?

Photo Credit: Michael Brochstein/Sipa USA/Newscom

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  • Fist of Etiquette||

    Yeah, but I'd still have to pay it off, so that would be stupid.

  • SQRLSY One||

    Like with a 153,985-billion-year contract to serve Scientology for all of the rest of your reincarnations, for approaching infinity? That sounds WAAAAY cool to me, bro, so me & Emperor Xenu, that's where I am headed!!!

    The feds and their over-commitments to over-spending, they can NOT put ME to shame!!!!

  • shamrock||

    I never knew there were people who thought a Bacon Mcdouble actually consists of beef, cheese, and bacon.

  • SQRLSY One||

    Well, there's a bit of Soylent Green included, but politie people will NOT talk about THAT!!!!

  • Hugh Akston||

    Well, that's the claim being made by the people selling it. What information do you have to dispute that?

  • Don't look at me.||

    You could have picked cooler stuff for you examples. Like how many Lamborghinis , hookers , private rock concerts, gallons of jack daniels, etc.

  • Eddy||

    ENB should have done this post.

  • SQRLSY One||

    Yeah man! How many Stormy Daniels shows, and just HOW many favors from Congress-slimes!!!!

  • Echospinner||

    5 billion subscriptions to Reason magazine?

  • BestUsedCarSales||

    an astronomical number that actually represented a significant decrease from the same month last year.

    MAGA

  • Echo Chamber||

    So Kudlow's earlier comments about the deficit improving were in regards to this new report? Oops

  • JeremyR||

    Yeah, but no one wants to cut the stuff they like.

    Which includes Reason, who loves government funded abortions and museums, plus welfare for everyone in the world who makes it here

  • Hugh Akston||

    Your link is broken.

  • Freddy the Jerk||

    Reason -- including Shika the shrieking harpy -- has never addressed the fact that 51% of immigrants receive welfare. That number's 76% (!!!) when you consider only immigrant households with children.

    You kill the welfare state and we can discuss throwing open the doors. Until then, you're just proposing making my kids slaves to pay out freebies for every moocher who drags their broke ass across our borders.

  • Scarecrow Repair & Chippering||

    The entire fucking country gets one form of welfare or another. Your 51% is meaningless without comparison to what everybody gets.

  • vek||

    You know who doesn't get welfare? ME.

    I even refused to accept unemployment money I could have got when I was younger on principle. I've never received a dime of "welfare" or social safety net money in my life, and I never will.

    YES I use the roads etc. That stuff is unavoidable. But there are lots of people who never collect a dime beyond things like that that are forced on everybody.

    We DO NOT need to be bringing in people who use anything beyond stuff like roads. I imagine the numbers for Indian IT guys who immigrate here is something VERY close to ZERO welfare use. So if you can saaay exclude Somalis with grade school educations, who will be a net tax drain even if they don't use direct welfare (they don't make enough to pay for the roads, schools etc because they're mostly low income), and only take in Indian, Chinese, European, etc people with actual high wage jobs... That means less of a burden on everybody here who isn't a moocher already.

    Namely people like me, and the other 50% or so of the country that are net tax payers.

  • Bubba Jones||

    Do you refuse to accept insurance checks when you wreck a car?

    Because your employer pays for unemployment insurance.

  • vek||

    I am keenly aware of how unemployment works... I am an employer myself, and have been for a long time.

    Government forced unemployment insurance is bullshit. It is a government welfare program like any other. People abuse the unemployment system ALL THE TIME. I know more friends than I can even remember who slacked in between jobs so they could get a paid vacation, while putting in apps for stuff they knew they wouldn't get. When I was an employee I HAD TO PAY FOR THEIR SLACKING. And I still have to pay for it now. And everybody else who works has to pay for it.

    So, being that I am not a fuck up, or a slacker, I just got my ass in gear and found another job really friggin' fast, and didn't have to use the government welfare system I was forced to pay into.

    Social safety nets would actually "work," although still be immoral from a libertarian standpoint, if people didn't abuse them so damn much. I REFUSE to contribute to the problem, even if it benefits me personally. I can still proudly say I have never taken a dime of welfare money in any form, including unemployment. That alone is well worth it to me.

  • Freddy the Jerk||

    So in your brain, 76% welfare mooching is meaningless because US citizens get welfare too? WTF dude? Stalin killing 20 million's meaningless because Hitler killed people too? Where the hell did you leave your critical thinking skills?

  • Yellow Tony||

    Hey bud, the jerk store called: they need more of ya!

  • Freddy the Jerk||

    I'm a jerk for quoting statistics? Oh, right, those numbers should not be mentioned in polite company...

  • Chipper Morning Baculum||

    Those numbers are straight out of your ass. It's quite roomy in there, isn't it?

  • Freddy the Jerk||

    Wrong, asshole. Here's a nice USA Today article (using small words, so it shouldn't tax you much) summarizing the Center for Immigration Studies paper: read it.

  • vek||

    How about this nugget:

    The majority of immigrants using welfare come from Central America, Mexico and the Caribbean. The use of welfare is lower for immigrants from East Asia (32%), Europe (26%) and South Asia (17%).

    Sooo the use for Hispanic/Carribean people is HIGHER than the 51/76% numbers, because all the Asian and European numbers drag down the figures when considering "all" immigrants.

    Fuck me sideways. How otherwise intelligent people can be so dumb on the immigration issue is beyond me. We just don't have any sane or logical reason to bring in low skill immigrants. I'm fine with Mexican engineers or doctors moving here, it's not just that they're Mexican... I'm part Mexican for fucks sake! It's the fact that all the low skilled ones MOOCH OFF OF ME and everybody else.

    And again, remember when looking at "native" numbers that includes native born Hispanics and blacks. The numbers for white/Asian/Jewish native born people are VASTLY lower.

  • Moo Cow||

    From Cato:

    Low-income (family income below 200% of poverty line) non-citizen children and adults utilize Medicaid, SNAP, cash assistance, and SSI at a generally lower rate than comparable low-income native-born citizen children and adults, and the average value of public benefits received per person is generally lower for non-citizens than for natives. Because of the lower benefit utilization rates and the lower average benefit value for low-income non-citizen immigrants, the cost of public benefits to non citizens is substantially less than the cost of equivalent benefits to the native-born.

  • vek||

    And the correction that needs to be made to that, and ALL OTHER TIMES when comparing native born to immigrants:

    That number includes blacks and Hispanics. Anybody who considers the levels of black welfare, crime, etc to be ACCEPTABLE is full of shit and setting the bar waaaaaaaaaaaaaaaaaaay too low.

    Compare those figures to white, Asian, or Jewish levels and they are FAR higher. Same thing with crime stats for immigrants, waaaaaaay higher than white/Asian, but lower than native born blacks and Hispanics.

    Here's the thing with stats: We're stuck with native born blow it cases. We can't kill 'em, and no other country wants to take them off our hands for obvious reasons... BUT with immigrants we can select nothing but the best. The ones who have a 99.99% chance of never committing a murder, being net positive tax payers, who will have well adjusted kids who also go on to be successful.

    Why in fucks name should we take in people that are below the US average in income, crime stats, etc when we can take in nothing but the cream? We're stuck with native born losers, but we don't need to import more.

  • Bubba Jones||

    That isn't a reason to increase the number of people in the US who are below 200% of the poverty line.

    We should be bringing in immigrants who add value. Just like Canada and Australia do.

  • Bubba Jones||

    We should import a few hundred thousand doctors from India.

  • vek||

    Yup! They'll LOWER my tax burden, not increase it! Those are the kind of immigrants I have no problem with.

  • Stevecsd||

    Non-citizens should not receive ANY welfare period.

  • DJK||

    I'm confused. From the CBO projection article: "The national debt is projected to reach roughly 100 percent of the GDP by 2030, and it could approach 152 percent by 2048." From this article: "The federal government's deficit for just one month represents only a small fraction of our national debt, which currently exceeds $21 trillion". US GDP is around $18 trillion. So aren't we already well past the point of debt exceeding GDP?

  • DJK||

    Hmm. The debt clock lists GDP around $20 trillion. The CBO and debt clock must be including different things. Anyone know what each includes?

  • Happy Chandler||

    If you click through to the actual CBO report, it is debt held by the public. It does not include debt to the social security/medicare trust funds.

  • Rat on a train||

    1,498,000 full body lattes from Starbucks.

  • Diane Reynolds (Paul.)||

    Or 752 with biodegradable straw.

  • Rat on a train||

    If I'm going to splurge, I'm going to spend the $500,000,000 for extra foam. Maybe I'll also stop by H&R Block for a gentleman's rebate.

  • Diane Reynolds (Paul.)||

  • BestUsedCarSales||

    We could buy so many ass implants with that money.

  • BestUsedCarSales||

    Or, my old saw of funding genetic manipulation for bigger titties.

  • Hugh Akston||

    BUCS, you've already got very full C-cups. Why can't you just be happy with what the Lord gave you?

  • BestUsedCarSales||

    I want to be crippled by it.

  • Yellow Tony||

    That's what my ancient prune of a GILF said.

  • Happy Chandler||

    The budget deficit really doesn't matter. It's an accounting measurement, not actual obligations. As long as our debt is in dollars, we can always afford it. The only countries that run into problems are ones that borrow in currencies they don't control, such as eurozone countries or developing countries that borrow in dollars or Euros.

    The issue is that the budget deficit was increased during the late stages of the business cycle, and it was funneled to corporations which have increased share buybacks, and 1/3 of the shares are owned by foreigners. So, in essence, we borrowed money to give to foreign investors.

    This is why the trade deficit is high. We borrow money, from foreigners, route the proceeds back to the foreigners, and buy goods from the foreigners. Tariffs have little to do with it.

  • Scarecrow Repair & Chippering||

    Not a very good troll. Do you really believe this shit?

  • Scarecrow Repair & Chippering||

    I mean, seriously, you conflate accumulated government debt with annual trade deficit, and can't even get the right bullshit of trade deficit, when anyone with the most basic econ 101 knowledge knows the thing called "trade deficit" is just an accounting column of no importance.

    So much fail, so poorly done, why don't you just go find a rick to crawl under for a while?

  • Happy Chandler||

    Tariffs didn't work against Japan and it won't work now.

  • Diane Reynolds (Paul.)||

    You know what else didn't work against Japan?

  • BestUsedCarSales||

  • Diane Reynolds (Paul.)||

    Uhh, that did work against Japan.

  • Yellow Tony||

    Really? They're still shitting out animation and comics for me to consume. It's all good.

  • Yellow Tony||

    With $74.9 birrion dollars you could fund the creation of a life simulation game in which the world has never seen before, and hopefully The Sims either dies or stops beings shit.
    You hear that Maxis? Fuck you.

  • chemjeff radical individualist||

    An even more disappointing comparison:

    According to these people, $74.9 billion represents 12 manned missions to Mars.

  • Yellow Tony||

    Is that how rich guys kill themselves? Fucking noice.

  • This Machine Chips Fascists||

    749000 trips around the world on Cunard's Queen Mary 2 in one of their finest suites. Includes $30k per trip folding money. YMMV

  • This Machine Chips Fascists||

    2.7M orphans at an average cost $27500 each.

  • vek||

    You're getting ripped off dude! I saw in a documentary several years ago that you can buy sex slaves in Eastern Europe for as little as $200-400 USD! I'm sure prices have gone up a bit since then, but even if it's $1,000 now for a hot Ukrainian babe, that's a lot better than $27,500!

  • This Machine Chips Fascists||

    924 trips to ISS aboard Soyuz. Presumably this is round trip.

  • This Machine Chips Fascists||

    This leaves you with about $40M extra for hookers and blow.

  • Yellow Tony||

  • Jerryskids||

    I don't think we're talking astronomical numbers quite yet - with a $4.4 trillion budget for next year, we've still got nearly a trillion and a half before we're into astronomical numbers. And won't that be nice? Next year's budget is a mere 3/4 of a lightyear dollar! 75 lightyear cents.

  • Echo Chamber||

    Measuring budgets in light years. Sweet

  • Rat on a train||

    We are already at astronomical numbers. At 6.14" per $1, $1 trillion is about 1 AU.

  • Bronze Khopesh||

    The deficit isn't a problem. Some of the spending is a problem as there are agencies, like the BLM, that actively make people's lives worse. And there is spending that is harmless but pointless like having a poet laureate. But overall the deficit doesn't hurt anything or anyone.

    It's not even necessarily unlibertarian. If you believe in some amount of government then you believe it must spend and if it must spend then at times it may spend more than it takes in in taxes.

    However if you're an anarchist then it's all bad. I get it, I respect your purity.

    And the debt, so-called, isn't your problem. You don't have a "share". You are not obligated in the least to pay it off. Nor were your parents, nor are your kids or their kids.

    What T-bills etc. do is soak money out of the economy as a means to control inflation and it provides extra value to the dollar as you can earn interest by getting dollars and then saving them in Ts.

  • Bronze Khopesh||

    Also the government does not use any of that money. Why would an entity that can create as much of it's own currency whenever it wants need to borrow that currency? If you were in the position of controlling a currency that people took from you and used in their lives would you need to borrow any of it back from them? No. Because you could create as much of it as you wanted, whenever you wanted. You don't need them to give you any. You might let them though if you felt that paying them interest would increase the value or if you felt that maybe there was too much of your currency out there.

    Finally, along those same lines, federal taxes don't pay for anything. The government could pay all it's obligations just by creating money as needed even if it never received a single dollar in taxes, fees, or fines. Again imagine if you could create your own currency that was widely accepted would you need to collect taxes from people? No, because you could create the money as you needed it.

    Federal taxes are there to create a need for people to have dollars and they also work to soak money out of the economy.

    So your federal taxes are not paying for the interest on the debt, or for federal welfare programs, or the military or anything else. So there is no need to get worked up about deficits or federal spending in general. Specific things, yes. In general, no. Unless you're an anarchist. Then fly on you crazy diamond!

  • Bronze Khopesh||

    Oh and the gdp/debt ratio is worthless. It doesn't say anything. Is there some proof somewhere that it tells us anything?

    All the "debt" a country has built up in it's entire existence divided into it's current year production? What?

    Some countries have low ratios and they're shitholes, some have high ratios and are fine. So what lesson are we supposed to learn from this ratio?

  • Don't look at me.||

    Another victim of the public school system.

  • Fairbanks||

    I don't think so. The logic fits your theory, but the grammar is too good. Just a troll.

  • NotAnotherSkippy||

    Worked for the Weimar Republic.

  • vek||

    It's all fun and games until the president/Fed chair decide they HAVE to inflate the currency to high hell to make the debt relatively less harmful... And then all the foreigners that own your debt decide to sell... And your economy implodes in a fit of hyper inflation.

    But it's all TOTALLY AWESOME up until that point!

    Blargh.

  • Stevecsd||

    Bhopesh, if you want to see how well this works in reality just take a look at Venezeula. That's what happens when you do what you say.

  • Jerryskids||

  • Rich||

    37.45 billion Bacon McDoubles

    To further put this into perspective, that would feed all the humans on the planet for a week.

    Why does the federal government hate children? WHY?!

  • Oli||

    Way more important: Why does the federal government hate ME? I'd like to have some free Bacon McDoubles!

  • vek||

    I hate children.

    I'd rather have them all starve for a week and have our government NOT spend that money... But that's just me.

  • Oli||

    How many fake Trump University diplomas?

  • vek||

    That AR-15 is hella cheap! I didn't think there was a US made AR for that little. I seemed to recall before when I looked the cheapest was the Ruger version for $499. Makes a fella wonder what a used version of that one might go for... sub $300 AR sounds pretty sweet...

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