Federal budget deficit hits (all-time) April record ($82.7 billion)

AP on Yahoo ^ | 5/12/10 | Martin Crutsinger - ap

[NormsRevenge]

WASHINGTON – The federal budget deficit hit an all-time high for the month of April as government revenue fell sharply.

The Treasury Department said Wednesday the April deficit soared to $82.7 billion, the largest imbalance for that month on record. That was significantly higher than last year's April deficit of $20 billion and above the $30 billion deficit private economists had anticipated.

The government normally runs surpluses in April as millions of taxpayers file their income tax returns. However, income tax payments were down this April, reflecting the impact of a severe recession which has pushed millions of people out of work.

Revenues for April were down 7.9 percent from a year ago, dipping to $245.3 billion. That decline included a fall in individual income tax payments. That reflected not only the impact of millions of people out of work but also tax relief provided through the economic stimulus program that Congress passed in February 2009.

The back-to-back deficits in April marked a first, according to monthly budget records that go back to 1954. During that period, the government has run April surpluses in 43 of 56 years.

[NormsRevenge]

This double-dip recession brought to you by Obama and the DEMs.

See ya in November, folks!

[AmusedBystander]

But, I see green shoots everywhere.

[PogySailor]

“You Lie!”

[rovenstinez]

Hey, let’s give 50 billion dollars to bail out the Greeks! We’ve got a REAL responsible bunch there in the beltway. Some kind of FEVER has gripped them, and they all keep drinking the Kool Aid.

[DuncanWaring]

There ya go ... more proof the economy’s on the rebound!

[PogySailor]

The markets are soaring on this fabulous news. We’re through the looking glass.

[Zeddicus]

And this isn't even half of it (literally)! The actual deficit is more than double that reported figure.

[moose2004]

The April deficit is $52.7 billion higher than the $30 billion April deficit “economists” had been calling for, how incredibly unexpected.

[dearolddad]

But, I see green shoots everywhere.

They are called lawns; I'm on my way to mow mine now.

[jveritas]

The markets are totally controlled by the limousine liberals, please never ever forget this fact.

[newfreep]

On the $175B deficit link, what the column headings?

[AmusedBystander]

They are called lawns; I'm on my way to mow mine now.

At least your carbon tax from that mower will help the Gore's pay their gardener, so we got that going for us.

[DuncanWaring]

I believe the headings would be:

“Month-end Date”, “Total Public Debt”, “Intergovernmental Holdings”, “Total Debt”, and “Monthly Deficit”.

“Intergovernmental Holdings” would generally be the “Social Security Trust Fund”.

[Night Hides Not]

How unexpected.

[onyx]

You’re right. The Marxists own this.

It’s all theirs. We’re just stuck with the debt.

[SonOfDarkSkies]

Here's a link to the Monthly Treasury Receipts SITE which let's us either open a pdf file or an Excel file showing monthly revenues and expenses.

Here's what the annual deficit numbers look like over the last few years (WE ARE HEADED FOR BIG TROUBLE!!!).

2006	$251,147
2007	$187,920
2008	$680,467
2009	$1,471,297
2010 ytd	$1,046,726

[SonOfDarkSkies]

BTW, my tally is from January to December.

[444Flyer]

All hail Cpt. Bathos. Doing his best to beat Greece.

[hattend]

[crickets chirp in DC]