Help End The Obama Era In 2012
Your Monthly and Quarterly Donations
Help Keep FR In the Battle!
Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!
Posted on 04/11/2012 1:00:26 PM PDT by GlockThe Vote
Following the all time record high February budget deficit of $232 billion, the US March budget deficit number is in, and in addition to being bigger than expected, coming at $198.2 billion on expectations of "only" $196 billion, the government outlay in the past month also is the largest March deficit on record. This brings the total deficit in fiscal 2012 to $779 billion, which is to be expected for a country gripped in total political chaos and which is unable to either raise revenues or lower spending. What is more disturbing is that over the same period (Oct 1 2011 - March 31, 2012), the US government issued $792 billion in debt, a trend that will continue. What is most disturbing is that the comparable tax revenues net of refunds, "matching" this increase in deficit and spending, are only $693 billion, in other words the US government is funding well more than half of its cash needs with debt rather than with tax revenue. Just like Japan.
(Excerpt) Read more at zerohedge.com ...
“Unexpectedly” bad numbers
Where the heck is that non-tax-paying John Galt?
Who will buy our debt? Even the Fed has to have limits.
Recovery? We don’t need no stinkin recovery!
And this with a GOP controlled house. So electing Romney will fix what exactly?
Electing Obama certainly wont.
George W. Zimmerman’s fault?
Obama is the “historic” president
Exactly. If I hear unexpected more than 2-3 times, I start hearing "incompetent" instead.
The US Gov’t typically has its lowest revenues in Feb/March (before tax-time) so one can’t simply use these 2 months to predict the whole year.
Regardless though it is BAD. What is really scary is that the Federal Gov’t, for the last six months, has borrowed nearly half of what it spends. Incredible.
“Even the Fed has to have limits.”
I just heard Fmr. Fed Gov Frederick Mishkin say expansion the Fed balance sheet of $2.9T is NOT a big issue.
The issue is the ‘Political Economy’. WTH?
If this trend continues, the debt limit will be reached before the election in November. With few exceptions, that is every incumbent Senator's and Representative's worst nightmare, i.e. the thought of increasing the debt limit before the elections.
Their opponents will be on the campaign trail, while they're actually having to do their jobs...the HORROR!
After election;
The problem here is that it will take "ten years" to get anything
done about the deficit and right now we have more important issues.
1971: Drilling will take ten years to effect fuel prices and there are more important issues.
1981: Drilling will take ten years to effect fuel prices and there are more important issues.
1991: Drilling will take ten years to effect fuel prices and there are more important issues.
2001: Drilling will take ten years to effect fuel prices and there are more important issues.
2010: Drilling will take ten years to effect fuel prices and there are more important issues.
Neither party will give a damn about the debt while they are in power.
It's only when either party is out of power that they point out the monstrosity
of the current debt and claim that something must be done asap.
Reread the article.
The Fedderal Gov't borrowed MORE than half of what spent.
By nearly $100 billion.
Ironic that this week is the anniversary of the titanic sinking no?
1. If you spend $100 a month on golf, and cut that to $50, then you have
effectively cut spending.
2. If DC is spending $100 a month on golf and plans to spend $200 next year,
then decides to only spend $150, they call that a spending cut even though it's $50 more.
The American public does not know how the numbers are being fudged and
neither side will spend a moment to inform them.
The list, Ping
Let me know if you would like to be on or off the ping list
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.