Federal deficit hits $1.38 trillion through August

AP on Yahoo ^ | 9/11/09 | Martin Crutsinger - ap

[NormsRevenge]

Point taken.

:-]

[ReaganGeneration2]

2010 GOP agenda item #1: Freeze spending 2 years across-the-board

[RetiredArmy]

This country is going to go right down the financial drain. We are $1.4 trillion in the hole. There are millions upon millions of baby boomers who are owed socialist security and medicare benefits over the next 30-40 years. With the spending they are already doing, there is no way in hell that boomers will see that money. There is no place for that money too come from. The US congress blew all the social security moneys put in over the past 50 years or so on other programs. The so called lock box has been empty and gathering dust for years and years. There is NO WAY in hell that we will balance the budget again in the next 50 years. There just is not that much money around. Only by massive cutting of benefits will they even be able to ration out any of what is owed. Plus with more and more illegals coming here and getting benefits, it just goes that much faster.

[ActrFshr]

Why are even Free Republic viewers ignoring the OFF BALANCE SHEET expenses that raise the yearly deficit by another trillion? This $1.38T is bogus. It’s really closer to $2.4T atm.

[teevolt]

How do they get 1.4 trillion? I look at the treasury debt to the penny website and it has us starting at 10.1 trillion on Oct 1, 2008 and at 11.8 trillion on Aug 31, 2009. My math says that is 1.7 trillion. Why is that number off by 300 billion from what is reported?

http://www.treasurydirect.gov/NP/BPDLogin?application=np

[happygrl]

He’s really only comfortable in his role as Community Organizer.

[happygrl]

Them top two are Maa- uns doing a Maa-uns job.!

The bottom one hanging curtains.....