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« 100 Cents On The Dollar: Dodd & Bunning Criticize Bernanke On AIG | Main | From The Desk Of Senator Bernie Sanders: Petition To Prevent Bernanke's Reappointment (Sign It NOW!) »
Wednesday
Dec092009

Deficit Numbers Already Horrible For FY 2010: $292 Billion After Just 2 Months

I still can't get used to these numbers.  It wasn't long ago (24 months) when $292 billion was our deficit for an entire fiscal year.  That's just chump change to the Obama-Reid-Pelosi crew who have no plans to slow down the giant deficit machine in 2010, as they pave their way to mid-term elections that they hope to purchase with your money. 

Obama doesn't see it yet, but he will be known by history as the Deficit President -- The man who racked up $6 trillion in national debt in 4 years.  The next closest President is Bush who accumulated $1.5 trillion in debt for your children, during his second term.  Yes, Obama's deficits = 4X(Bush's deficits), and Bush was the worst on record until Obama.

The numbers don't lie.  For the record, it took the United States 216 years from 1776 to 1991 to accumulate its first trillion in national debt.  We do that every 9 months under Banks Obama.

I might possibly lose my mind by 2012.

From Reuters

WASHINGTON, Dec 4 (Reuters) - The U.S. government racked up a gaping shortfall in the first two months of this fiscal year after posting a record budget deficit last year, congressional analysts said on Friday.

In October and November, the government spent $292 billion more than it took in, the nonpartisan Congressional Budget Office said.

That was even worse than the same period last year, when the government was on its way to posting a record $1.4 trillion deficit for the fiscal year that ended Sept. 30.

The federal budget has been battered by the worst economic downturn since the Great Depression of the 1930s, as tax revenues have plunged and spending on safety-net programs like unemployment insurance have skyrocketed.

The budget deficit was $176.4 billion in October, according to Treasury Department records, and the CBO estimated the deficit for November will have come in at $115 billion.

The CBO gave its figures in billions of dollars and said numbers may not add up to the totals because of rounding.

Receipts totaled $132 billion in November, the CBO estimated, down 9 percent from the same month last year. That was partly due to new legislation that gives increased tax write-offs to corporations.

Outlays were down $23 billion from a year earlier, the CBO estimated, as the government spent less on federal programs to stem the financial crisis.

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Reader Comments (12)

http://online.wsj.com/article/SB126039125069884187.html
House Votes to Extend Tax Breaks—For Now
Dec 9, 2009 at 6:40 PM | Registered CommenterDailyBail
Dec 9, 2009 at 6:42 PM | Registered CommenterDailyBail
http://online.wsj.com/article/SB10001424052748704342404574576683216723794.html?mod=WSJ_hp_mostpop_read
The Tip of the Climategate Iceberg
The global-warming scandal is bigger than one email leak.
Dec 9, 2009 at 6:43 PM | Registered CommenterDailyBail
http://online.wsj.com/article/SB126014168569179245.html?mod=WSJ_hp_mostpop_read
Miles for Nothing: How the Government Helped Frequent Fliers Make a Mint
Free Shipping of Coins, Put on Credit Cards, Funds Trip to Tahiti; 'Mr. Pickles' Cleans Up
Dec 9, 2009 at 6:46 PM | Registered CommenterDailyBail
Dec 9, 2009 at 6:47 PM | Registered CommenterDailyBail
Barry Soetoro...So Much for the Great Uniter...

Barack Obama's trip to Oslo to pick up his Nobel peace award is in danger of being overshadowed by a row over the cancellation of a series of events normally attended by the prizewinner.

Norwegians are incensed over what they view as his shabby response to the prize by cutting short his visit.
Dec 9, 2009 at 7:28 PM | Unregistered CommenterGobiasBestFriend
That's the Change We Need!
Dec 9, 2009 at 7:28 PM | Unregistered CommenterGobiasBestFriend
Norway is ultra-liberal but has a hard currency. Go figure!
Dec 10, 2009 at 12:22 AM | Unregistered CommenterSeven Samurai
Gobias...I realize it's out of your obama foreign affairs purview, but any thoughts on these outrageous deficit numbers...?
Dec 11, 2009 at 1:37 AM | Registered CommenterDailyBail
Yes...Obama...You're Fired!
Dec 11, 2009 at 1:46 AM | Unregistered CommenterGobiasBestFriend
good work...thanks for all your efforts in that regard...
Dec 11, 2009 at 2:27 AM | Registered CommenterDailyBail
Wow. Things must be REALLY bad when even the cooked stats are starting to look lousy. Fortunately American Idol is on tonight and we can all look forward to focusing on the issues that TRULY matter.
Dec 13, 2009 at 9:43 PM | Unregistered CommenterRecoverylessRecovery

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