Queen Elizabeth down to last $1.6 million in reserves after royal overspend

[RobJohnson]

By Alexander Smith, NBC News contributor

LONDON -- Britain's Queen Elizabeth has just £1 million ($1.6 million) left in financial reserves after the royal household overspent on its budget last year, according to a report by British lawmakers released Tuesday.

The royal household had to dip into its reserves after overspending £2.3 million ($3.8 million) on the £31 million ($51.4 million) it was given by the taxpayer in 2012-13.

The report by the Public Accounts Committee said the amount was "historically low" and that it was "concerned that the household has reduced its balances to such an extent that it could be unable to cover its expenditure on any unforeseen events."

More news and a couple videos at link: http://worldnews.nbcnews.com/_news/2...verspend?lite=

[SarasotaRepub]

God save the Queen!!!!

[NJCardFan]

The world's richest and famous welfare family. Seriously, what do they do? The PM and legislature runs the day to day operations of government. They have no standing on policy decisions. They are the figureheads of figureheads.

[noonwitch]

The world's richest and famous welfare family. Seriously, what do they do? The PM and legislature runs the day to day operations of government. They have no standing on policy decisions. They are the figureheads of figureheads.

The British haven't really opposed having a monarchy since Cromwell. They like QE2, but may change their minds about the whole thing when Big Ears takes the throne.

[Novaheart]

Occasionally someone runs the numbers and the Royal Family is justified.

I'm surprised they would draw any animosity around conservative circles. Monarchy is the ultimate expression of capitalism. Wealth becomes concentrated in fewer hands, those hands are allowed to buy elections with the consent of the Supreme Court to the cheers of the GOP, and eventually the winners could simply not bother with pretending that we are a democratic republic.

[SaintLouieWoman]

Occasionally someone runs the numbers and the Royal Family is justified.

I'm surprised they would draw any animosity around conservative circles. Monarchy is the ultimate expression of capitalism. Wealth becomes concentrated in fewer hands, those hands are allowed to buy elections with the consent of the Supreme Court to the cheers of the GOP, and eventually the winners could simply not bother with pretending that we are a democratic republic.

Sort of like Obama?