The final 2014 fiscal year interest on debt payment was tallied.
September Interest on Debt payment $19,594,265,555.11
Fiscal YTD payments & total for 2014 $430,812,121,372.05
2014 total is $15 Billion higher then 2013 total and $70 Billion higher then 2012 interest on debt payments.
Month / October 2014
Majority of $159 Billion of Owed IRS Taxes Will Go Unpaid
JustFactsDaily.com released some new IRS data showing in 2013 there was $159 Billion in unpaid federal taxes. Here is what they found:
Per the IRS’s Fiscal Year 2013 Financial Statement, 78% of unpaid taxes that taxpayers have agreed they owe or courts have ruled they owe are “estimated to be uncollectible due primarily because of the economic situations of the taxpayers.”
Cost of One Tomahawk Cruise Missile
In the past few weeks the United States military launched action against ISIS in the middle east. Part of the strategy in killing the Jihadist group was launching Tomahawk cruise missiles on them. The fully burdened cost of a new Tomahawk cruise missile is roughly $1.6 million.
Labor Force Participation Rate Drops Again
No matter what “great” numbers the federal government puts out about unemployment, one indicator clear thinking investors look at in the health of a nation is labor force participation. Graph is courtesy ZeroHedge.
While by now everyone should know the answer, for those curious why the US unemployment rate just slid once more to a meager 5.9%, the lowest print since the summer of 2008, the answer is the same one we have shown every month since 2010: the collapse in the labor force participation rate, which in September slide from an already three decade low 62.8% to 62.7% – the lowest in over 36 years, matching the February 1978 lows. And while according to the Household Survey, 232K people found jobs, what is more disturbing is that the people not in the labor force, rose to a new record high, increasing by 315,000 to 92.6 million!
DirecTV & NFL Strike $1.5 Billion Year Deal
DirecTV shrugged off the NFL’s recent controversies and increased their bid for a TV deal by 50%. Eight year deal worth $1.5 Billion year.
Per NFL Communications
NEW YORK and EL SEGUNDO, Calif., Oct. 1, 2014 – The National Football League and DIRECTV have extended and expanded DIRECTV’s exclusive rights to carry NFL SUNDAY TICKET and its package of every Sunday afternoon out-of-market game through a new multi-year agreement.
The new agreement also expands DIRECTV’s rights to stream NFL SUNDAY TICKET live on mobile devices and via broadband, known as NFL SUNDAY TICKET.TV, as previously announced.
Specific terms of the agreement were not disclosed.
2015 Fiscal Year For U.S. Government Starts Today
The United States federal government starts a new fiscal year today. The President proposed a budget in March but has not worked with the Senate or House in finalizing an actual budget. U.S. federal government spending will occur through later appropriations legislation that is signed into law.
Here’s a snapshot of 2015 proposed spending and tax revenues from the President. Deficits and debt still accumulate at an historical rate.
Hoosier Econ 