Federal Government Sends Out 212 Million Checks Per Month
July 29, 2011 by Personal Liberty News Desk
According to Fox News, the government sends out about 212 million checks and electronic payments each month, 80 million of which come from the Treasury Department.
Irvin Faunce, former Deputy Commissioner of the Financial Management Service with the Treasury Department, told the news source that the incredible volume of these payments may separate politicians from the reality that they represent actual money.
“I don’t believe that there really is a realization that this is really real money,” he said.
Faunce also said that there is no way for the government to stop payment on any of these checks.
“There is no stop payment capability; it’s not like a commercial check that can be stopped,” he said.
According to USA Today, the government has about $306.7 billion in expenses next month and only about $172.4 billion in revenue, meaning that many of these checks may not be mailed out if the government shuts down due to debt ceiling issues.