Posted on 03/11/2009 6:39:38 PM PDT by Nachum
Recession, bailout costs push federal deficit to $765 billion in first 5 months of budget year
Lower tax revenue and massive government spending on the bank bailout pushed the federal deficit to $765 billion in the first five months of the budget year, well on its way to hitting the Obama administration's projection of a record annual imbalance of $1.75 trillion.
The Treasury Department also said Wednesday that the February deficit reached $192.8 billion. That's a record for the month and up 10 percent from a year ago, but below analysts' expectations of $205.7 billion
(Excerpt) Read more at abcnews.go.com ...
‘Inherited’ all ‘inherited.’
Change you better believe in!
It can only get worse!
"A government which robs Peter to pay Paul can always depend on the support of Paul."
-- George Bernard Shaw
I heard some ahole dem on the radio today railing about how GWB increased the deficit by 2 billion dollars over 8 years and how we aren’t giving Obama a chance.
I felt kinda sorry for the schlub.
The deficit between his ears makes Obamas debt look tiny by comparison.
This is disgraceful. All the RATS had on Reagan was the “deficit.” The RATS are making his deficits look like chicken feed. They are spending us into oblivion.
Hope, that by the time the Savior is done spending us into prosperity, you will have any Change left in your pocket.
I've heard it's about a billion an hour since Hussein took office without providing a birth certificate. I wish my SUV got mileage like that...
True Cost of Stimulus: $3.27 Trillion
http://blog.heritage.org/2009/02/12/true-cost-of-stimulus-327-trillion/
All of the major news outlets are reporting that the stimulus bill voted out of conference committee last night has a meager $789 billion price tag. This number is pure fantasy. No one believes that the increased funding for programs the left loves like Head Start, Medicaid, COBRA, and the Earned Income Tax Credit is in anyway temporary. No Congress under control of the left will ever cut funding for these programs. So what is the true cost of the stimulus if these spending increases are made permanent?
Rep. Paul Ryan (R-WI) asked the Congressional Budget Office to estimate the impact of permanently extending the 20 most popular provisions of the stimulus bill. What did the CBO find? As you can see from the table below, the true 10 year cost of the stimulus bill $2.527 trillion in in spending with another $744 billion cost in debt servicing. Total bill for the Generational Theft Act: $3.27 trillion.
[TABLE AT SITE]
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