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U.S. Begins Fiscal Year $11,776,112,848,656.17 in Debt
CBS News Blog ^ | 10/01/09 | Mark Knolller

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 ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: bho44; bhodeficit; debt; economy; fiscalyear; third100days
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2010 could easily surpass '09.

We are so screwed.

1 posted on 10/01/2009 7:54:53 PM PDT by hole_n_one
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To: hole_n_one

I’m good for the 17 cents. Any takers for the other amounts?


2 posted on 10/01/2009 7:56:12 PM PDT by coloradan (The US has become a banana republic, except without the bananas - or the republic.)
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To: coloradan
I’m good for the 17 cents.

As Hannity would say.......

YOU are a great American!

3 posted on 10/01/2009 7:57:50 PM PDT by hole_n_one
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To: hole_n_one

Yep, the year the dimoKKKRATS emptied the US Treasury. Of course the state run media will say it was all Bush’s fault.


4 posted on 10/01/2009 7:58:13 PM PDT by Parley Baer
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To: hole_n_one

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!


5 posted on 10/01/2009 7:58:18 PM PDT by goodnesswins (Democrat party has always been the party of slavery, sedition, subversion, socialism and surrender)
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To: hole_n_one

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.


6 posted on 10/01/2009 7:58:55 PM PDT by coloradan (The US has become a banana republic, except without the bananas - or the republic.)
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To: hole_n_one

At first, I thought this was from The Onion.

Turns it out it’s real news :(


7 posted on 10/01/2009 7:59:36 PM PDT by Debacled
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To: coloradan
Don't look at me, I'm so broke I can't pay attention.

/johnny

8 posted on 10/01/2009 7:59:50 PM PDT by JRandomFreeper (God Bless us all, each, and every one.)
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To: hole_n_one

I’ll send them the seventeen cents if they will leave me alone.


9 posted on 10/01/2009 7:59:58 PM PDT by Patrick1 (I'm not calling in sick; I'm calling in gone!)
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To: hole_n_one; bamahead; rabscuttle385; Extremely Extreme Extremist; neverdem; Impy; fieldmarshaldj; ..

This looks very, very dire. How long can it be sustained?


10 posted on 10/01/2009 8:01:00 PM PDT by Clintonfatigued (Liberal sacred cows make great hamburger)
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To: hole_n_one

Wow!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


11 posted on 10/01/2009 8:07:45 PM PDT by Dream Warrior (Never underestimate the POWER of an ARROGANT Marxist President and Congress!)
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To: hole_n_one

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.


12 posted on 10/01/2009 8:09:31 PM PDT by Fingolfin
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To: hole_n_one

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


13 posted on 10/01/2009 8:10:52 PM PDT by parsifal (Abatis: Rubbish in front of a fort, to prevent the rubbish outside from molesting the rubbish inside)
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To: Fingolfin

It should make Bernie Madoff proud.


14 posted on 10/01/2009 8:12:06 PM PDT by hole_n_one
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To: Fingolfin

“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...


15 posted on 10/01/2009 8:14:54 PM PDT by Fu-fu2
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To: hole_n_one

Chicago getting the Olympics, Nationalized Health care for illegals. Biden says we have to keep spending to avoid bankruptcy!!


16 posted on 10/01/2009 8:15:49 PM PDT by Steelers6
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To: hole_n_one

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


17 posted on 10/01/2009 8:19:28 PM PDT by Revel
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To: hole_n_one

They were obviously trying to fudge the final numbers for the last fiscal year.


18 posted on 10/01/2009 8:21:12 PM PDT by Revel
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To: Revel
How stupid of me.

It's like a golfer not accounting for the wind.

19 posted on 10/01/2009 8:22:53 PM PDT by hole_n_one
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To: Revel

An increase of almost 140 billion dollars in one day?


20 posted on 10/01/2009 8:23:02 PM PDT by MinorityRepublican
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