Posted on 11/12/2009 12:37:11 PM PST by SeattleBruce
WASHINGTON -- The federal government kicked off fiscal year 2010 by posting its widest-ever October budget deficit, the Treasury Department said Thursday.
The $176.36 billion gap is more than $20 billion wider than the shortfall recorded in October 2008, driven up by lower tax receipts, stimulus-related revenue reductions and consistently high government outlays.
Treasury's monthly budget statement shows receipts were $135.33 billion in October, down 18% from a year earlier and at the lowest level since October 2002. Meanwhile, outlays were $311.69 billion, down 3% from a year earlier and at their second-highest monthly level on record.
(Excerpt) Read more at online.wsj.com ...
Deficits up, tax receipts down.
What's a good socialist to do. Wonder if bammy will discuss this debacle at his jobs summit (that's hilarious.) 'uh, uh, duh, we've saved, or created 600,000 jobs since I took office...' [thought process behind the lie: "we've lost 7 or 8 million on net, but who's counting/watching/caring" - well more and more of us - that's who.]
Looks like someone posted this from a Yahoo News site just ahead of me...so this is a duplicate string.
How much is an American worth - as a slave laborer?
So the US government spent 2.3 times what it took in. How many months could your family do that?
hh
So the US government spent 2.3 times what it took in. How many months could your family do that?
++++++++++++++++++++
Right. Try never. This is a runaway freight train and we’ve got to pull the brakes on this beast!
You can not spend 300 Billion when you are only bringing in 135 billion.
Just outrageous by a factor of 10.
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