The $1.4 billion that President Trump requested to be approved by Congress for the start of the U.S.-Mexico border wall project equals approximately 0.035 percent of what the federal government is projected to spend in the fiscal year 2017, according to the Congressional Budget Office’s (CBO) latest estimate of federal spending.
The Department of Health and Human Services (HHS) spends more in just twelve hours, while the Department of the Treasury collects that amount in less than four hours, assuming that the HHS spends money 24 hours a day and the Treasury collects money 24 hours a day.
CNS News reported, “In its baseline budget projections published in January, the CBO estimated that in fiscal 2017, which runs through September, the federal government will collect $3,404,000,000,000 in taxes and spend $3,963,000,000,000.”
In a March 16 letter to House Speaker Paul Ryan, President Trump requested that funding be included for certain items—such as the $1.4 billion for the wall project—in the continuing resolution that Congress must pass to keep the federal government operating for the rest of the fiscal year following the April 28 expiration of the current continuing resolution (CR).
According to an Office of Management and Budget (OMB) summary, Trump requested that the CR include: “1.4 billion for CBP (Customs and Border Protection) Procurement, Construction and Improvements, including $999 million for planning, design, and construction of the first installment of the border wall, $179 million for access roads, gates, and other tactical infrastructure projects, and $200 million for border security technology deployments.”
The OMB summary also noted a request for “$18 million for project management, oversight and support for the border wall.”
The $1.4 billion Trump has asked Congress to approve in this fiscal year to start the border wall project equals 0.035 percent of the $3.963 trillion the CBO estimates the federal government will spend in FY2017.
CNS News drew the following comparison: “The Department of Health and Human Services alone will spend an estimated $1,108,457,000,000 in fiscal 2017, according to the Monthly Treasury Statement. That $1,108,457,000,000 in annual HHS spending equals approximately $126,546,187 for each of the 8,760 hours in the fiscal year.
“In other words, HHS will spend approximately $126,536,187 per hour this year—assuming that it spends money 24 hours a day.”
Bottom line — in approximately 11 hours, the HHS spends an amount equal to the $1.4 billion that President Trump requested for the wall project.
CNS News also reported the “$3,404,000,000,000 that the Treasury will collect in taxes this fiscal year, according to the CBO estimate, equals about $388,584,475 in tax collections per hour. The $1.4 billion that Trump wants for the border wall project this year equals about 3.6 hours in federal tax collections.
“In just 4 hours, the federal government collects more in taxes than President Trump wants to spend for the entire year on the border wall.”
H/T: CNS News
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