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Federal budget deficit hits (all-time) April record ($82.7 billion)
AP on Yahoo ^ | 5/12/10 | Martin Crutsinger - ap

Posted on 05/12/2010 11:37:46 AM PDT by NormsRevenge

WASHINGTON – The federal budget deficit hit an all-time high for the month of April as government revenue fell sharply.

The Treasury Department said Wednesday the April deficit soared to $82.7 billion, the largest imbalance for that month on record. That was significantly higher than last year's April deficit of $20 billion and above the $30 billion deficit private economists had anticipated.

The government normally runs surpluses in April as millions of taxpayers file their income tax returns. However, income tax payments were down this April, reflecting the impact of a severe recession which has pushed millions of people out of work.

Revenues for April were down 7.9 percent from a year ago, dipping to $245.3 billion. That decline included a fall in individual income tax payments. That reflected not only the impact of millions of people out of work but also tax relief provided through the economic stimulus program that Congress passed in February 2009.

The back-to-back deficits in April marked a first, according to monthly budget records that go back to 1954. During that period, the government has run April surpluses in 43 of 56 years.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Breaking News; Business/Economy; Crime/Corruption; Government; Politics/Elections
KEYWORDS: april; budgetdeficit; enemywithin; eu; fed; goldmansachs; imf; marxism; obama; record; un
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1 posted on 05/12/2010 11:37:46 AM PDT by NormsRevenge
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This double-dip recession brought to you by Obama and the DEMs.

See ya in November, folks!


2 posted on 05/12/2010 11:39:49 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Chuck DeVore - CA Senator. Believe.)
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To: NormsRevenge

But, I see green shoots everywhere.


3 posted on 05/12/2010 11:43:29 AM PDT by AmusedBystander (Obamunists want to tear down our shining city upon a hill and open a community center in "da hood".)
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To: NormsRevenge

“You Lie!”


4 posted on 05/12/2010 11:44:21 AM PDT by PogySailor (BHO - Dividing the country into tribes since 2008.)
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To: AmusedBystander

Hey, let’s give 50 billion dollars to bail out the Greeks! We’ve got a REAL responsible bunch there in the beltway. Some kind of FEVER has gripped them, and they all keep drinking the Kool Aid.


5 posted on 05/12/2010 11:44:22 AM PDT by rovenstinez
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To: NormsRevenge

There ya go ... more proof the economy’s on the rebound!


6 posted on 05/12/2010 11:44:44 AM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: rovenstinez

The markets are soaring on this fabulous news. We’re through the looking glass.


7 posted on 05/12/2010 11:46:19 AM PDT by PogySailor (BHO - Dividing the country into tribes since 2008.)
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To: NormsRevenge
And this isn't even half of it (literally)! The actual deficit is more than double that reported figure.
8 posted on 05/12/2010 11:51:40 AM PDT by Zeddicus
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To: NormsRevenge

The April deficit is $52.7 billion higher than the $30 billion April deficit “economists” had been calling for, how incredibly unexpected.


9 posted on 05/12/2010 11:53:12 AM PDT by moose2004 (Stand up, speak out and stop Obamacare and GE)
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To: AmusedBystander
But, I see green shoots everywhere.

They are called lawns; I'm on my way to mow mine now.

10 posted on 05/12/2010 11:53:53 AM PDT by dearolddad
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To: PogySailor

The markets are totally controlled by the limousine liberals, please never ever forget this fact.


11 posted on 05/12/2010 11:54:43 AM PDT by jveritas (God bless our brave troops)
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To: Zeddicus

On the $175B deficit link, what the column headings?


12 posted on 05/12/2010 11:57:40 AM PDT by newfreep (Palin/DeMint 2012 - Bolton: Secy of State)
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To: dearolddad
They are called lawns; I'm on my way to mow mine now.

At least your carbon tax from that mower will help the Gore's pay their gardener, so we got that going for us.

13 posted on 05/12/2010 12:00:22 PM PDT by AmusedBystander (Obamunists want to tear down our shining city upon a hill and open a community center in "da hood".)
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To: newfreep

I believe the headings would be:

“Month-end Date”, “Total Public Debt”, “Intergovernmental Holdings”, “Total Debt”, and “Monthly Deficit”.

“Intergovernmental Holdings” would generally be the “Social Security Trust Fund”.


14 posted on 05/12/2010 12:03:22 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: NormsRevenge
How unexpected.
15 posted on 05/12/2010 12:05:18 PM PDT by Night Hides Not (If Dick Cheney = Darth Vader, then Joe Biden = Dark Helmet)
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To: NormsRevenge

You’re right. The Marxists own this.

It’s all theirs. We’re just stuck with the debt.


16 posted on 05/12/2010 12:06:44 PM PDT by onyx (Sarah/Michele 2012)
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To: NormsRevenge; All
Here's a link to the Monthly Treasury Receipts SITE which let's us either open a pdf file or an Excel file showing monthly revenues and expenses.

Here's what the annual deficit numbers look like over the last few years (WE ARE HEADED FOR BIG TROUBLE!!!).

2006 $251,147
2007 $187,920
2008 $680,467
2009 $1,471,297
2010 ytd $1,046,726

17 posted on 05/12/2010 12:10:08 PM PDT by SonOfDarkSkies (Vera Baker rumors--The Obama White House solution to imminent 'himbo' eruptions!)
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To: NormsRevenge

BTW, my tally is from January to December.


18 posted on 05/12/2010 12:12:46 PM PDT by SonOfDarkSkies (Vera Baker rumors--The Obama White House solution to imminent 'himbo' eruptions!)
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To: onyx
All hail Cpt. Bathos. Doing his best to beat Greece.


19 posted on 05/12/2010 12:20:13 PM PDT by 444Flyer (We shall not be moved.)
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To: NormsRevenge

[crickets chirp in DC]


20 posted on 05/12/2010 12:22:36 PM PDT by hattend (The era of John McCain is over, the era of Ronald Reagan is back! Go Sarah Go!)
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To: NormsRevenge

Chicago,..we have a problem...


21 posted on 05/12/2010 12:34:26 PM PDT by Tulsa Ramjet ("If not now, when?" "Because it's judgment that defeats us.")
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To: NormsRevenge

Okay, let’s do some ciphering as Jethro would say.

This year, April revenues were $245.3 billion and were down 7.9%. That means that last year’s April revenues were $266.3 billion. If there was a $20 billion deficit, then spending must have been $286.3 billion in April 2009.

This year, there was a $82.7 billion deficit with $245.3 billion in revenue. Which means spending was $328 billion.

So, revenue went down $21 billion while spending went up by $41.7 billion. But the problem, of course, is a lack of revenue.


22 posted on 05/12/2010 12:37:09 PM PDT by tnlibertarian
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To: NormsRevenge

The large number and size of refundable tax credits is a substantial factor. Democrats have given refundable and non refundable tax credits like candy. They have created a vicious tax system in which almost 50% of the population pay little or no federal income taxes and the top 5 to 10% have confiscatory tax rates. This system creates dual incentives for non compliance and lack of effort. At the low end, working more results in loss of lucrative tax credits. At the top end, working more means entry into confiscatory taxation. Some of these refundable tax credits are given without regard to income for Democrat priorities such as renewable energy. These tax credits are misallocating scarce resources for areas with little potential for economic viability.


23 posted on 05/12/2010 12:38:15 PM PDT by businessprofessor
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To: NormsRevenge
However, income tax payments were down this April, reflecting the impact of a severe recession which has pushed millions of people out of work.

The revenues weren't down because of unemployment. They were down because the producers have cut back in what they do.

24 posted on 05/12/2010 12:42:43 PM PDT by wmfights (If you want change support SenateConservatives.com)
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To: NormsRevenge
Obama (soros) is still committing US to more foreign aid and debt. Really seems like an attack on our dollar and freedom. Spread the wealth globally to an extreme.
25 posted on 05/12/2010 12:45:53 PM PDT by opentalk
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To: SonOfDarkSkies
Correct for site link...

http://www.fms.treas.gov/mts/index.html

26 posted on 05/12/2010 12:58:20 PM PDT by SonOfDarkSkies (Vera Baker rumors--The Obama White House solution to imminent 'himbo' eruptions!)
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To: AmusedBystander
"But, I see green shoots everywhere."

A lot of people do. But those are just weeds coming up through the pavement in Detroit.

Similar "green shoots" coming soon to a neighborhood near you.

27 posted on 05/12/2010 12:59:11 PM PDT by sjmjax
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To: NormsRevenge

...”$82.7 billion, the largest imbalance for that month on record.”

Bush’s fault.

Nice job POS Government Media!


28 posted on 05/12/2010 1:00:28 PM PDT by gathersnomoss (Please God, watch over our country.)
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To: PogySailor

This is an obvious unexpected improvement. I mean with all of the private sector jobs that are being created. Man, are we lucky or what?

That Bambi is a miracle worker. Time for another beer summit, Dumbass!


29 posted on 05/12/2010 1:04:01 PM PDT by gathersnomoss (Please God, watch over our country.)
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To: tnlibertarian

All hats off to you for spelling this crap out.

And the wheels on the bus go round and round...


30 posted on 05/12/2010 1:08:17 PM PDT by gathersnomoss (Please God, watch over our country.)
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To: NormsRevenge

OBAMA’S FAULT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


31 posted on 05/12/2010 1:30:58 PM PDT by vpintheak (Love of God, Family and Country has made me an extremist.)
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To: 444Flyer

LOL. It’s hard to laugh, but ya got me!


32 posted on 05/12/2010 1:35:33 PM PDT by onyx (Sarah/Michele 2012)
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To: tnlibertarian

TAX INCREASES!


33 posted on 05/12/2010 1:45:51 PM PDT by Shady (The Fairness Doctrine is ANYTHING but fair!!!!)
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To: NormsRevenge
Reagan's first YEARLY budget deficit was $72 billion...

Reagan’s Budget Legacy

34 posted on 05/12/2010 1:46:55 PM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: NormsRevenge

The Revenue Collapse...as the Democratic Party progresses in their shutdown of America, USA.


35 posted on 05/12/2010 1:49:32 PM PDT by mo
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To: NormsRevenge
The Treasury Department said Wednesday the April deficit soared to $82.7 billion, the largest imbalance for that month on record. That was significantly higher than last year's April deficit of $20 billion and above the $30 billion deficit private economists had anticipated. The government normally runs surpluses in April as millions of taxpayers file their income tax returns. However, income tax payments were down this April, reflecting the impact of a severe recession which has pushed millions of people out of work.

Wha? I thought the recession wuz OVEH!?!?!?!

36 posted on 05/12/2010 1:51:22 PM PDT by ichabod1 (Can around 25-30% moonbat base really steal the country from us and hold it?)
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To: SonOfDarkSkies

Please bear in mind..the 2007 budget was the last budget crafted by a Republican Congress in fall 2006-prior to Democrats assuming control of Congress.

Any competent RNC chair would be sure that fact was in every voters mind by October this fall.


37 posted on 05/12/2010 1:51:47 PM PDT by mo
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To: SonOfDarkSkies

BUSH RAN A QUARTER OF A TRILLION DOLLAR DEFICIT!!!!!


38 posted on 05/12/2010 1:54:21 PM PDT by ichabod1 (Can around 25-30% moonbat base really steal the country from us and hold it?)
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To: opentalk
Obama (soros)

Obamasoros... Obamasaurus...

39 posted on 05/12/2010 1:57:14 PM PDT by ichabod1 (Can around 25-30% moonbat base really steal the country from us and hold it?)
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To: onyx

“You’re right. The Marxists own this. It’s all theirs. We’re just stuck with the debt.”

Not if we repudiate it.


40 posted on 05/12/2010 2:14:02 PM PDT by RKBA Democrat (Repudiate the 0bama debt)
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To: NormsRevenge

From the article: “However, income tax payments were down this April, reflecting the impact of a severe recession which has pushed millions of people out of work.”

Partly true, but it doesn’t begin to tell the tale. The shifting of the tax burden to the few who produce a lot has had a predictable effect; those who can avoid taxation avoid it, those who can’t reduce their productivity.


41 posted on 05/12/2010 2:20:06 PM PDT by RKBA Democrat (Repudiate the 0bama debt)
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To: NormsRevenge

Not bad really, at the rate we’re going ( that is, if we have similar budget deficits every month), the budget deficit for 2010 will be about $1 Trillion.

Isn’t that less than their estimate ?


42 posted on 05/12/2010 2:39:12 PM PDT by SeekAndFind
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To: ichabod1
Budget deficit under Clinton, Bush and Obama

43 posted on 05/12/2010 2:41:12 PM PDT by SeekAndFind
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To: RKBA Democrat

Oh, we’re going to repudiate it. That’s the only consolation I have over any of this, is that I know in the end it CAN’T work. I understand that this is their plan, to cash in all our chips and leave us helpless, but I also know that a certain, large, percentage of this country rolls up its sleeves and pulls together in an emergency, while another big chunk sits down and waits for somebody to give them something. I know which team I’m on.


44 posted on 05/12/2010 2:41:18 PM PDT by ichabod1 (Can around 25-30% moonbat base really steal the country from us and hold it?)
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To: Wyatt's Torch

45 posted on 05/12/2010 2:44:19 PM PDT by SeekAndFind
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To: NormsRevenge

46 posted on 05/12/2010 2:45:51 PM PDT by SeekAndFind
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To: SeekAndFind

I know. I was just exposing the tendency of the opposition to condemn the mote in someone else’s eye while ignoring the beam in their own.


47 posted on 05/12/2010 2:47:40 PM PDT by ichabod1 (Can around 25-30% moonbat base really steal the country from us and hold it?)
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To: SeekAndFind

Yikes. It makes Clinton look good. Compared to Obama, I bet we all wish Bill was back.


48 posted on 05/12/2010 2:49:39 PM PDT by StolarStorm
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To: StolarStorm
More data to be worried about :


49 posted on 05/12/2010 2:50:17 PM PDT by SeekAndFind
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To: NormsRevenge

Tax revenues will continue to decline as jobs are shipped overseas. Shouldn’t reducing outsourcing and the destruction of our industrial base be a conservative issue now that it has gone too far?


50 posted on 05/12/2010 2:52:36 PM PDT by StolarStorm
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