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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
click here to read article
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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.")
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.
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.
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)
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
To: SonOfDarkSkies
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!)
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
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.)
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.)
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.)
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.)
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)
To: tnlibertarian
33
posted on
05/12/2010 1:45:51 PM PDT
by
Shady
(The Fairness Doctrine is ANYTHING but fair!!!!)
To: NormsRevenge
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.)
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
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?)
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
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?)
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?)
To: onyx
“Youre right. The Marxists own this. Its all theirs. Were 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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