Budget deficit tops $1 trillion for first time

Discussion in 'Economics' started by TGregg, Jul 13, 2009.

  1. TGregg


    Here's some change you can believe in:

    WASHINGTON – Nine months into the fiscal year, the federal deficit has topped $1 trillion for the first time.

    The imbalance is intensifying fears about higher interest rates and inflation, and already pressuring the value of the dollar. There's also concern about trying to reverse the deficit — by reducing government spending or raising taxes — in the midst of a harsh recession.

    The Treasury Department said Monday that the deficit in June totaled $94.3 billion, pushing the total since the budget year started in October to nearly $1.1 trillion.

  2. [​IMG]
  3. cstfx


    It's all Bush's fault. Obama "inherited" this deficit. :D
  4. TGregg


    That's almost 10 grand in 2030 dollars ;)
  5. It's better to melt it down and store it.

    It can be used as amalgam to fill cavities by back alley dentists in the new American economy.

    "One cavity, $9.99; Two for $17."
  6. Lol :D
  7. LOL!!!
  8. "You know, Paul, Reagan proved deficits don't matter"-Dick Cheney
  9. TGregg



    Meanwhile, the libs want another stimulass package.

    Here's Krugman:

  10. "Nine months into the fiscal year"

    As much as you hate Obama, he's only been President for 6 months. This is the budget Bush proposed and signed. If the Bush Admin had included war costs in their budgets their deficits would have been even bigger. Bush spent more than every president before him-- COMBINED. Don't let him of the hook so easy.
    #10     Jul 14, 2009