Posted on 08/11/2010 12:53:01 PM PDT by kristinn
The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.
Federal spending eclipsed revenue for the 22nd straight time, the Treasury Department said Wednesday. The $165.04 billion deficit, while a bit smaller than than the $169.5 billion shortfall expected by economists polled by Dow Jones Newswires, was the second highest for the month on record. The highest was $ 180.68 billion in July 2009.
SNIP
(Excerpt) Read more at nasdaq.com ...
The last Republican Congress budget deficit for the entire year of FY2007 was $162 billion. Now the Democrats are matching that per month.
How are they getting away with this..???? Unreal..for me just unreal.
“unexpected” NOT
Explain to my grandchildren why you spent their money, plus interest, to pay government union salaries and fund pensions during your 4-year term.
Go ahead Mr. Obama. Explain. You can even use a telepromptr.
He’s fixing it in August by taking away 11 billion in Food Stamps.
I thought that our deficit was about $1.5 trillion this year. I am so relieved that the deficit is only $165 billion. The Democrats should be so proud. Please do not quiver about the time period. Hour, day, month, what is the difference? It is only paper, coins, and computer storage.
The only way the government "makes" anything is to take it out of our pockets.
Years of deficit spending by Washington have led to a mounting national debt. Interest payments so far in fiscal 2010 amount to $185.25 billion; by contrast, corporate taxes collected by the government during the same 10 months were $ 139.71 billion. Interest payments in July alone were $19.9 billion.
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