Obama lying again: Treasury: June Tax Revenues Covered Social Security and Veterans Benefits More Than 3-Times Over

Wednesday, July 13, 2011
By Terence P. Jeffrey

President Barack Obama discusses debt-limit negotiations at a White House press conference on July 11, 2011. (AP photo)

(CNSNews.com) – Despite President Barack Obama’s statement on CBS Evening News on Tuesday that he could not guarantee the government could pay out Social Security checks and veterans’ benefits after Aug. 3 if Congress does not agree to lift the limit on the national debt by then, official Treasury Department accounting documents for the month of June indicate that tax revenues for the month were almost three and a half times what the government needed to cover all Social Security benefits and veterans’ programs.

The Daily Treasury Statement for June 30—which any American, including the president, can look up on the U.S. Treasury Department’s website at this link—says the government took in $196.994 billion in revenue during the month.

According to the Daily Treasury Statement for June 30, federal revenue and the itemized costs for each of these federal expenditures during the month of June (in billions of dollars) were as follows:

Revenue:

$196.994

Spending on interest, entitlements, salaries, etc.:

Interest on Treasury Securities: 8.025

Social Security Benefits: 50.719

Medicare: 45.950

Medicaid: 26.306

Veterans benefits: 4.196

Veterans Affairs programs: 2.961

Indian Health Service: 0.770

Temporary Assistance for Needy Families: 1.158

Federal salaries: 14.407