Posted on 10/01/2009 7:54:53 PM PDT by hole_n_one
Happy New Year!
But leave the hats and horns in the closet. There's nothing to celebrate.
Today marks the start of the 2010 federal fiscal year. The only thing good about it is that FY'09 is finally over.
It was the fiscal year in which the U.S. suffered the worst economic downturn since the Great Depression and government numbers reflected that.
It was as if a fiscal tsunami struck and flooded the nation with red ink.
By the time the final numbers are in for the fiscal year just ended, the federal deficit will have hit an all-time high in the range of $1.580-trillion. That's 11.2 percent of the total economy (GDP). The previous year's deficit was – by today's standards – nearly inconsequential at $459-billion. That was only 3.2 percent of GDP.
Over the course of FY'09, the National Debt soared as well from $10.124-trillion on October 1, 2008 to $11,776,112,848,656.17 as of Tuesday, the latest figure from the Bureau of Public Debt. That's an increase of $1.652-trillion – the single largest increase ever in a fiscal year.
(Excerpt) Read more at cbsnews.com ...
We are so screwed.
I’m good for the 17 cents. Any takers for the other amounts?
As Hannity would say.......
YOU are a great American!
Yep, the year the dimoKKKRATS emptied the US Treasury. Of course the state run media will say it was all Bush’s fault.
My husband’s last work day is 10/30....it’s going to get worse....but, looking on the bright side, we won’t be paying much in taxes for the next couple of years!
It’s really the least I could do. Well, I guess 7 cents would be the least I could do. You’re right - I AM a great American.
At first, I thought this was from The Onion.
Turns it out it’s real news :(
/johnny
I’ll send them the seventeen cents if they will leave me alone.
This looks very, very dire. How long can it be sustained?
Wow!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The funny thing is that we are in debt to the tune of trillions of dollars to a private bank (Federal Reserve) that creates the money it buys government debt with out of nothing. It is the greatest scam in human history.
It’s only money. We can’t take it with us. Our children and grandchildren and great grandchildren will remember us in the future and say things about us.
parsy, who is trying to see the bright side
It should make Bernie Madoff proud.
“The funny thing is that we are in debt to the tune of trillions of dollars to a private bank (Federal Reserve) that creates the money it buys government debt with out of nothing. It is the greatest scam in human history.”
Wow—never heard it put in those terms. Frightening, not funny...
Chicago getting the Olympics, Nationalized Health care for illegals. Biden says we have to keep spending to avoid bankruptcy!!
Hey- Pay Attention! Your numbers are sooooo Yesterday :)
There was big jump in debt posted today. It is now:
11,909,829,003,511.75
http://www.treasurydirect.gov/NP/BPDLogin?application=np
They were obviously trying to fudge the final numbers for the last fiscal year.
It's like a golfer not accounting for the wind.
An increase of almost 140 billion dollars in one day?
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