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US Posts Biggest March Budget Deficit In History
ZeroHedge ^ | 4/11/2012 | Tyler Durden

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 ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS:
Hey lets obsess over Zimmerman!!!!
1 posted on 04/11/2012 1:00:31 PM PDT by GlockThe Vote
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To: GlockThe Vote

“Unexpectedly” bad numbers


2 posted on 04/11/2012 1:04:00 PM PDT by Oshkalaboomboom
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To: GlockThe Vote

Where the heck is that non-tax-paying John Galt?


3 posted on 04/11/2012 1:05:42 PM PDT by Paladin2
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To: GlockThe Vote
If this 2-month trend continues, we will be another $2.581 TRILLION in debt at the end of this year.

Who will buy our debt? Even the Fed has to have limits.

4 posted on 04/11/2012 1:05:50 PM PDT by backwoods-engineer (I will vote against ANY presidential candidate who had non-citizen parents.)
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To: Oshkalaboomboom

Recovery? We don’t need no stinkin recovery!


5 posted on 04/11/2012 1:07:23 PM PDT by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: GlockThe Vote

And this with a GOP controlled house. So electing Romney will fix what exactly?


6 posted on 04/11/2012 1:09:09 PM PDT by Drill Thrawl (The United States of America, a banana republic since 1/21/2009)
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To: Drill Thrawl

Electing Obama certainly wont.


7 posted on 04/11/2012 1:15:30 PM PDT by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: GlockThe Vote

George W. Zimmerman’s fault?


8 posted on 04/11/2012 1:16:54 PM PDT by VanDeKoik (If case you are wondering, I'm supporting Newt.)
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To: GlockThe Vote

Obama is the “historic” president


9 posted on 04/11/2012 1:19:59 PM PDT by hattend (Jesus wants me to make churches pay for abortions. - Barack Obama)
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To: Oshkalaboomboom
It seems to me that ‘unexpected’ is an excuse/explanation that you can use with a straight face, about ONCE!
10 posted on 04/11/2012 1:21:16 PM PDT by SMARTY ("The man who has no inner-life is a slave to his surroundings. "Henri Frederic Amiel)
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To: SMARTY
It seems to me that ‘unexpected’ is an excuse/explanation that you can use with a straight face, about ONCE!

Exactly. If I hear unexpected more than 2-3 times, I start hearing "incompetent" instead.

11 posted on 04/11/2012 1:24:51 PM PDT by IamConservative (Shall I try and perhaps fail or shall I do nothing without fail?)
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To: backwoods-engineer

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.


12 posted on 04/11/2012 1:25:20 PM PDT by PGR88
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To: backwoods-engineer

“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?


13 posted on 04/11/2012 1:31:35 PM PDT by griswold3 (Big Government does not tolerate rivals.)
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To: backwoods-engineer
If this 2-month trend continues, we will be another $2.581 TRILLION in debt at the end of this year.

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!

14 posted on 04/11/2012 1:31:35 PM PDT by Night Hides Not (My dream ticket for 2012 is John Galt & Dagny Taggart!)
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To: GlockThe Vote
Romney will fix this, He said so during his campaign.
Good thing both parties told us they will.

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.

15 posted on 04/11/2012 1:31:55 PM PDT by MaxMax
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To: PGR88
What is really scary is that the Federal Gov’t, for the last six months, has borrowed nearly half of what it spends. Incredible.

Reread the article.

The Fedderal Gov't borrowed MORE than half of what spent.

By nearly $100 billion.

16 posted on 04/11/2012 1:36:37 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: MaxMax

Ironic that this week is the anniversary of the titanic sinking no?


17 posted on 04/11/2012 1:39:21 PM PDT by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: MaxMax
The majority of Americans do not understand the way DC reports spending cuts.

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.

18 posted on 04/11/2012 1:45:26 PM PDT by MaxMax
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


19 posted on 04/11/2012 2:00:54 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: All


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20 posted on 04/11/2012 2:01:21 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: GlockThe Vote

This spending is High Treason.


21 posted on 04/11/2012 2:04:17 PM PDT by Psycho_Bunny (Burning the Quran is a waste of perfectly good fire.)
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To: Drill Thrawl
Presidents have something called the veto. With Obama in the WH, he can block anything coming out the Congress. The Reps don't hold a veto proof majority in the House and the Dems control the Senate.

I assume Romney would try to stall the implementation of Obamacare; eliminate the Obama czars that are using executve branch regulations to stifle the economy; try to enforce our immigration laws and secure the border--something Obama is not doing; rescind all of Obama's executive orders; take the political influence away from the actions of the DOJ; increase drilling and energy exploration of federal lands, etc.

22 posted on 04/11/2012 2:21:48 PM PDT by kabar
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To: GlockThe Vote
Back in the '70s, at the height of the VN war, CBS reported that we were spending more than a MILLION dollars a day on the war! Scandalous, according to Cronkite.

Chump change! Now, the US gov't is spending more than 6 BILLION dollars a day that it doesn't have.

Just to be clear, that's a deficit of $6B a day - in addition to the tax money they take in and spend.

23 posted on 04/11/2012 2:29:23 PM PDT by ZOOKER ( Exploring the fine line between cynicism and outright depression)
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To: kabar

Veto schmeto. The debt can not get that big unless CONGRESS spends the money.


24 posted on 04/11/2012 2:30:04 PM PDT by Drill Thrawl (The United States of America, a banana republic since 1/21/2009)
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To: GlockThe Vote
Hey lets obsess over Zimmerman!!!!

Really, why are we sweating a couple of bucks owed when racism is rampant and there is a critical election coming in November to keep the Savior in the Oval Office to save our democracy?

25 posted on 04/11/2012 2:30:57 PM PDT by EGPWS (Trust in God, question everyone else)
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To: PGR88
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

We are halfway thru the fiscal year. Another $1 trillion plus added to our national debt, which is why little Timmy has been saying that we may have to get another debt ceiling increase this year--perhaps before the election.

26 posted on 04/11/2012 2:36:03 PM PDT by kabar
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To: Drill Thrawl
With three quarters of the budget being spent on entitlement and welfare programs and debt servicing costs, Congress is not going to commit political suicide and stop funding these programs. Our revenue just covers these costs. The money for the rest of government, including defense is borrowed.


27 posted on 04/11/2012 2:43:51 PM PDT by kabar
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To: Psycho_Bunny

This spending is High Treason.


That would make a great campaign slogan, if there was anyone with a spine.


28 posted on 04/11/2012 2:52:20 PM PDT by OwenKellogg (Charter Member of the Nut-job Conspiracy Theory Ping List)
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To: Drill Thrawl
One other note re the entitlement programs. 10,000 people a day are turning 65 and will continue to do so for the next 20 years. By 2030 one in five residents of this country will be 65 or older, twice what it is now.

An by 2030 there will be just two workers for every retiree compared to 3.3 today and 16 in 1950. The chickens are coming home to roost.

29 posted on 04/11/2012 3:09:23 PM PDT by kabar
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To: GlockThe Vote

We are Zimmerman. But on the budget deficits, good! Less money for public mischief against private citizens. The less, the better. On to default and properly small government.


30 posted on 04/11/2012 6:27:12 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: GlockThe Vote
Hey lets obsess over Zimmerman!!!!

Some of us are... There must be a hundred threads a day following this soap opera.

31 posted on 04/11/2012 6:40:17 PM PDT by Cobra64 (Common sense isn't common anymore.)
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To: IamConservative

“O” and all his creatures are criminally clueless.

They can’t sail the ship, so they foul the rigging!!


32 posted on 04/12/2012 4:32:33 AM PDT by SMARTY ("The man who has no inner-life is a slave to his surroundings. "Henri Frederic Amiel)
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To: GlockThe Vote

Its an election year. Got to keep the smoke and mirrors going.

Just consider what the true state of the economy is when you remove all that borrowed/printed money... All that money is counted as “GDP” which has become meaningless.

They claim “recovery” only because they are spending everyone’s long term future now to retain power.


33 posted on 04/14/2012 4:43:48 PM PDT by DB
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