Deficits to 2012 bloomberg/apps/news?pid=newsarchive&sid=abGA3.0koGV4 163 billion 2007 bloomberg/apps/news?pid=newsarchive&sid=aA8lChe4zUQU 1.4 trillion 2009 nytimes/2012/10/13/business/federal-deficit-for-2012-fiscal-year-falls-to-1-1-trillion.html?_r=0 1.1 trillion 2012 Debt ceiling: $9.849 trillion. 2008 $12.1 trillion 2009 $16.394 trillion. 2012 $16.7 trillion , 2013 treasurydirect.gov/news/pressroom/pressroom_bpd08052004.htm The deficit is the difference between what revenue the government takes in and what it spends in the course of a year. The national debt is more or less the accumulation of annual deficits. Every year we have to raise the debt ceiling because no one can figure a way to bring the deficit back down in a timely fashion. The entire outlay of the federal Department of education to the states was 178.9 billion in 2012. This does not include the cost of running the department or its employe salaries and benefits. The closing of the department, as far as the outlays to the states, would chop 10 percent of the deficit annually. One may assume more savings would occur with the operating expenses and salaries gone. If the states no longer received federal funds, they would no longer have to meet federal standards, which could be both good and bad. But the requirements of tax-paying parents would be taken into greater consideration, which could be good or bad. What remains is local responsibility for education, which was the standard for most of the nations history.
Posted on: Mon, 21 Oct 2013 15:28:16 +0000
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