Skip to comments.Federal budget deficit hits (all-time) April record ($82.7 billion)
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 ...
This double-dip recession brought to you by Obama and the DEMs.
See ya in November, folks!
But, I see green shoots everywhere.
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.
There ya go ... more proof the economy’s on the rebound!
The markets are soaring on this fabulous news. We’re through the looking glass.
The April deficit is $52.7 billion higher than the $30 billion April deficit “economists” had been calling for, how incredibly unexpected.
They are called lawns; I'm on my way to mow mine now.
The markets are totally controlled by the limousine liberals, please never ever forget this fact.
On the $175B deficit link, what the column headings?
At least your carbon tax from that mower will help the Gore's pay their gardener, so we got that going for us.
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”.
You’re right. The Marxists own this.
It’s all theirs. We’re just stuck with the debt.
Here's what the annual deficit numbers look like over the last few years (WE ARE HEADED FOR BIG TROUBLE!!!).
BTW, my tally is from January to December.
[crickets chirp in DC]
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