Posted on 08/12/2013 1:35:28 PM PDT by Oldeconomybuyer
The United States ran a budget deficit in July, although government revenues increased from a year earlier due to tax hikes and a strengthening economy, a report from the Treasury showed on Monday.
The U.S. government spent $98 billion more than it took in last month, with the deficit driven by spending on healthcare programs, pensions for the elderly and the military.
One major reason is that Washington ratcheted austerity efforts by raising tax rates, which has helped tax receipts. It has also slashed the federal budget, although in July total spending rose to $298 billion from $254 billion in the same month of 2012.
(Excerpt) Read more at reuters.com ...
The budget was slashed by -17%. What’s so hard to understand?
Does that include the $85B the Fed pumps in every month?...............
Well a sternly worded email is in order!
A couple of posts on Brietbatr ought to fix this.
Well played!
Growth was slashed. Still spending more but not as much.
The "spending on pensions for the elderly and the military" were EARNED THROUGH PAST CONTRIBUTIONS TO THEIR PLANS.
Healthcare is just TAKING FROM EARNERS to fund buying the votes of parasitic classes who pay NOTHING, EARN nothing, CONTRIBUTE NOTHING TO SOCIETY, and expect to live off others for their every want and need. THESE are the Obamaphone people....
Deficit. FORWARD!!!
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.