Doesn't add up

The federal government took in $107 billion dollars i9n February and spent $328 billion. Does that seem right? It seems a little off to me to spend three times as much as you took in.

Also, a recent poll found that 92% of those surveyed wanted to unseat their current representative or Senator in Washington and only 21% believed that government enjoyed the consent of the governed. Only 3% thought the government was doing a good job. Hmmm.

Below are some basic numbers about our incredibly enjoyable and convincing recovery:

David Rosenberg of Gluskin Sheff notes that there are measures of economic health other than the stock market and GDP. To wit:

· "More than five million homeowners are behind on their mortgages.

· There are over six million Americans who have been unemployed for at least six months, a record 40% of the ranks of the jobless.

· The private capital stock is growing at its slowest rate in nearly two decades.

· Roughly 30% of manufacturing capacity is sitting idle.

· Nearly 19 million residential housing units, or about 15% of the stock, is vacant.

· One in six Americans is either unemployed or underemployed.

· Commercial real estate values are down 30% over the past year.

· The average American worker has seen his/her level of wealth plunge $100,000 over the last two years, even with the recovery in equity markets this past year.

· Bank credit is contracting at an unprecedented 15% annual rate so far this year as lenders sit on a record $1.3 trillion of cash.

· Unit labor costs are down an unprecedented 4.7% over the past year, and what has replenished household coffers has been the federal government, as transfer payments from Uncle Sam now make up a record 18% of personal income (and the Senate just passed yet another jobless benefit extension bill!)."