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(Reuters) - The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.
It was more than twice the $40-billion deficit that Wall Street economists surveyed by Reuters had forecast and was striking since April marks the filing deadline for individual income taxes that are the main source of government revenue.
Department officials said that in prior years, there was a surplus during April in 43 out of the past 56 years.
The government has now posted 19 consecutive monthly budget deficits, the longest string of shortfalls on record.
For the first seven months of fiscal 2010, which ends September 30, the cumulative budget deficit totals $799.68 billion, down slightly from $802.3 billion in the comparable period of fiscal 2009.
Outlays during April rose to $327.96 billion from $218.75 billion in March and were up from $287.11 billion in April 2009. It was a record level of outlays for an April.
Given that the monthly deficit is twice what economists had predicted, I'd say that a lot of people who have been paying very close attention are a shocked by this.In a nutshell, tax credits and unemployment = lower taxes collected by the fed. Anyone who's shocked by this news just hasn't been paying very close attention to current events over the last year or two.
1,500,000,000,000
One trillion, five hundred million.
So - since they're overspending by that much just who has our balls by loaning us all of that money?
China. They are loaded.
As in raiding any excess penny from the social security "surplus" that they can get their grubby fingers on?and through some slight of hand
1,500,000,000,000
One trillion, five hundred million.
So - since they're overspending by that much just who has our balls by loaning us all of that money?
As in raiding any excess penny from the social security "surplus" that they can get their grubby fingers on?
Yesss... but lower revenues, themselves, did not create the increased deficits.In a nutshell, tax credits and unemployment = lower taxes collected by the fed. Anyone who's shocked by this news just hasn't been paying very close attention to current events over the last year or two.
And now, for the rest of the rest of the story...Just a quick FYI...I overheard this story initially as reported by Rush Limbaugh and as usually I did my Paul Harvey impression...you know the one..."and now for...the rest of the story". As I figured, there was that one little detail Rush purposely omitted; April is, afterall, tax collection month
China. They are loaded.
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