Spend Matters Friday Latte

Our Afternoon Coffee barista is on vacation for a few days. I'll attempt to fill the mugs meanwhile;)

Are you prepared for the supply chain fallout from an Israeli attack on Iran's nuclear facilities?

Dan Gilmore over on SupplyChainDigest believes that such an attack may be imminent. "After all the posturing, calls for sanctions, etc., over the past few years, some experts are now saying that if Israel (with or without tacit US support) is going to take action against Iran's nuclear facilities, as it did ... back in 1981, it has to happen now to be effective ... Because there came news this week that Russia will begin loading nuclear-fuel rods into an Iranian nuclear reactor on Aug. 21 ... [and] An attack later may not be feasible because any attack on the reactor once it is loaded with uranium fuel would risk radioactive contamination of the whole Persian Gulf region."

usgovernmentspending.com reports spend for 2010

Total U.S. Federal, State and Local Government Spending for fiscal year 2010 comes in at $6,413 billion. $303.7 bn. went to interest payments – roughly 5% of your tax dollars -- and Health Care tops the line item list at $1,107.2 bn. Can you guess the next 3 largest line items in order ... come on ... guess ...
Education at $1,026.3 bn, followed by Pensions at $985.9 bn and Defense at $896.2 bn. That Pension plans have generally gone the way of the Space Shuttle program for me and many other citizens, I find it especially irksome that over 15% of our individual tax dollars are paying for someone else's. Oh well, at least we're spending more on Education than Defense.

European Commission says Greece should cut government spend an additional 4 billion euros this year

Reported by Reuters this morning, the cuts are needed to offset revenue shortfalls and spending slippages if it is to cut the deficit to 8 percent of GDP. "Greece plans total government expenditure in 2010 of 77.073 billion euros, down 5.3 percent from 2009 levels of 81.39 billion euros, and expects 2010 revenues of 58.382 billion." Greece's total planned expenditure for 2010 is roughly the same amount as the aggregate U.S. Local Government spend on Welfare.... There's no point to this – it's just an interesting matter of scale.

Have a super weekend!

William Busch

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