Posted on 08/06/2016 6:58:37 PM PDT by fluorescence
The federal government has sunk deeper into the red than analysts projected just five months ago, and is now poised to post a $590 billion shortfall this fiscal year, the Congressional Budget Office said Friday.
That’s some $56 billion worse than the CBO had projected in March, and it comes as new spending far outpaces revenues.
Both individual and corporate income tax revenue is down so far this year — though the reasons are not fully clear yet, analysts said. What is clear, though, is that government spending continues to rise, and when adjusted for the timing of payments is up about 3 percent compared to 2015.
(Excerpt) Read more at washingtontimes.com ...
Title should be “CBO: Deficit larger than expected”
And yet, there are voters who do not understand that Donald Trump is the one only who can tackle this problem.
Oh, money is no object. How about another 1.7 Billion for our enemy, Iran???
No problem. Clintoon has promised to load the Federal debt on the backs of the people in the middle class who work for a living to support their families.
and many other voters that don't care as long as their stipend comes in the mail.
Yet tax revenues are at all time highs!
A much bigger “unexpected” adjustment will undoubtedly come after the votes have been counted in November.
I believe the wealthy should pay more. Wait! I mean the liberal wealthy. Bill Gates and Warren Buffet should be asked to pay off the $590 billion debt.
Sure would love to open up Obama’s secret Swiss bank account.
>Sure would love to open up Obama’s secret Swiss bank account.
Trump will probably do just that. Unlike the rest of the super rich in our country he didn’t break the law getting rich. You can tell this by the fact that he failed a few times as wasn’t bailed out by the feds. He’s not corrupt.
“Unexpected”. It is back and bigger than ever!
Well, giving Iran a plane full of cash probably didn’t help.
Congressional Brain Operations: “Hussein has less mental capacity than we previously measured!” .
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