Federal Deficit Hits October Record of $176 Billion

T

TuTu Monroe

A Realist
Government Starts New Fiscal Year Deeply in the Red
By MATTHEW JAFFE
Nov. 12, 2009

The U.S. budget deficit for October surged to $176 billion, a record for the month, the Treasury Department announced today.

The U.S. budget deficit for October surged to $176 billion, a record for the month, the Treasury Department announced.
(/ABC News)

During the month, the government racked up $311 billion in outlays compared with $135 billion in receipts.

The October numbers mark the first month for the new fiscal year after the U.S. wrapped up the 2009 fiscal year that ended on September 30 with a record-high $1.4 trillion budget deficit due to increased government spending to stop the recession and the financial crisis. The final deficit for the 2009 fiscal year was equal to 10 percent of the nation's GDP, the highest shortfall relative to GDP since 1945, the final year of World War II.

The rising deficit has caused some concerns in Asia, where President Obama is set to start a weeklong trip. On his visit to the Pacific Rim the president will visit the United States' two largest foreign creditors – China and Japan.
 
TuTu Monroe said:
Government Starts New Fiscal Year Deeply in the Red
By MATTHEW JAFFE
Nov. 12, 2009

The U.S. budget deficit for October surged to $176 billion, a record for the month, the Treasury Department announced today.

The U.S. budget deficit for October surged to $176 billion, a record for the month, the Treasury Department announced.
(/ABC News)

During the month, the government racked up $311 billion in outlays compared with $135 billion in receipts.

The October numbers mark the first month for the new fiscal year after the U.S. wrapped up the 2009 fiscal year that ended on September 30 with a record-high $1.4 trillion budget deficit due to increased government spending to stop the recession and the financial crisis. The final deficit for the 2009 fiscal year was equal to 10 percent of the nation's GDP, the highest shortfall relative to GDP since 1945, the final year of World War II.

The rising deficit has caused some concerns in Asia, where President Obama is set to start a weeklong trip. On his visit to the Pacific Rim the president will visit the United States' two largest foreign creditors – China and Japan.
Click to expand...

I love it how threads like this are ignored, especially by posters like Onceler. :D
 
Bernanke Says U.S. Should Cut Record-High Budget Deficits

WASHINGTON -- Federal Reserve Chairman Ben Bernanke on Monday called for the United States to whittle down its record-high budget deficits and for countries like China to get their consumers to spend more, moves that would help combat skewed global trade and investment flows that contributed to the financial crisis.

Bernanke's remarks to a Fed conference in Santa Barbara, Calif., comes just days after the federal government on Friday reported a $1.42 trillion deficit for 2009 budget year that ended Sept. 30. The previous year's deficit was $459 billion.

The Fed chief's comments were aimed at reducing global imbalances, and echo pledges made by leaders of the Group of 20 nations at their summit in Pittsburgh last month.

"As the global economy recovers and trade volumes rebound, however, global imbalances my reassert themselves," Bernanke warned. For the United States' part, "the most effective way" to boost national savings in this country "is by establishing a sustainable fiscal trajectory, anchored by a clear commitment to substantially reduce federal deficits over time," Bernanke said. He didn't suggest ways to do so.

http://www.foxnews.com/politics/2009/10/19/bernanke-says-cut-record-high-budget-deficits/

i guess bernanke has no common sense....

can't wait to see how watermark is going to enlighten us
 
Evidently there is some disconnect in the mind of the U.S. voter. They can't seem to comprehend that the Republicans spend too much, and the Democrats spend waaaaay too much.
 
TuTu Monroe said:
Government Starts New Fiscal Year Deeply in the Red
By MATTHEW JAFFE
Nov. 12, 2009

The U.S. budget deficit for October surged to $176 billion, a record for the month, the Treasury Department announced today.

The U.S. budget deficit for October surged to $176 billion, a record for the month, the Treasury Department announced.
(/ABC News)

During the month, the government racked up $311 billion in outlays compared with $135 billion in receipts.

The October numbers mark the first month for the new fiscal year after the U.S. wrapped up the 2009 fiscal year that ended on September 30 with a record-high $1.4 trillion budget deficit due to increased government spending to stop the recession and the financial crisis. The final deficit for the 2009 fiscal year was equal to 10 percent of the nation's GDP, the highest shortfall relative to GDP since 1945, the final year of World War II.

The rising deficit has caused some concerns in Asia, where President Obama is set to start a weeklong trip. On his visit to the Pacific Rim the president will visit the United States' two largest foreign creditors – China and Japan.
Click to expand...

Oddly, I don't seem to remember you and yours spending much time worrying about deficits until Obama came on the scene, and the additional silence re: off budget "supplemental" Iraq War spending for 8 years was deafening. Please note that the bush 2009 budget ending Sept. 30(just 46 days ago), resulted in a record high $1.4 TRILLION deficit, that on top of several previous record high deficits already owned by bush, yet you and most of your hypocritical friends were, not surprisingly, silent. Obviously bush established a trend you, possibly, are not proud of, but ignore all the same. Obama has a one month deficit, primarily because of funds, rightly or wrongly, used in an attempt to get us out of the worst US fiscal mess since the Great Depression, and you and yours miraculously have an epiphany and see catastrophe.
Your veracity is challenged by your earlier silence, but your hypocrisy is evident.
 
belme1201 said:
Oddly, I don't seem to remember you and yours spending much time worrying about deficits until Obama came on the scene, and the additional silence re: off budget "supplemental" Iraq War spending for 8 years was deafening. Please note that the bush 2009 budget ending Sept. 30(just 46 days ago), resulted in a record high $1.4 TRILLION deficit, that on top of several previous record high deficits already owned by bush, yet you and most of your hypocritical friends were, not surprisingly, silent. Obviously bush established a trend you, possibly, are not proud of, but ignore all the same. Obama has a one month deficit, primarily because of funds, rightly or wrongly, used in an attempt to get us out of the worst US fiscal mess since the Great Depression, and you and yours miraculously have an epiphany and see catastrophe.
Your veracity is challenged by your earlier silence, but your hypocrisy is evident.
Click to expand...

AGAIN, what was the amount of the FYE, 2008 budget?
 
belme1201 said:
Which "record high" deficit are you talking about, the $1.4 trillion 2009 bush deficit or the October Obama deficit?
Click to expand...

both...both are not good for us, do you claim they are...or just trying to get a gotcha moment?

and are you claiming no dems are responsible for any spending?
 
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Tarfiel said:
Evidently there is some disconnect in the mind of the U.S. voter. They can't seem to comprehend that the Republicans spend too much, and the Democrats spend waaaaay too much.
Click to expand...

Neither spends enough. They are both hugely conservative parties, to the right of the Nazi's.
 
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