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.

[SeattleBruce]

“This system creates dual incentives for non compliance and lack of effort.”

Brilliant, isn’t it?!

[SeattleBruce]

“Really seems like an attack on our dollar and freedom.”

Debt based currency is an attack on our freedom.
http://economicedge.blogspot.com/2009/12/freedoms-vision-introduction.html

[reefdiver]

Yep, things are going as planned

[rcrngroup]

Gee, what a surprise! The commie pig 0b0z0 is bankrupting our nation to the tune of trillions of unfunded socialist projects, 20% real unemployment, 50% of the country pays no taxes, and voila! Tax revenues are falling and a record deficit in April, normally the month that the gubmint would expect it's highest tax revenues.

I hate to say it, but the only thing that the dumb ass voters (those so-called independents or "conservative" demoRATs) will understand is when the country goes completely belly up....then maybe they might regret their vote to put the commie pig bastard 0b0z0 into office as well as the rest of the entire socialist demoRAT party. Every one of the socialist demoRAT bastard politicians should be thrown into prison OR the gallows for committing high crimes & treason against the U.S.

[Kickass Conservative]

It's actually 54 Billion (so far), but remember, Trillion is the new Billion. No biggie...

[RKBA Democrat]

“TAX INCREASES!”

It’ll be tried, but it won’t work. The total debt is far too large. Those who can avoid the taxes will avoid them. Those who can’t will reduce their productivity.

In the end, we default.

[Tzimisce]

Oh it’s okay - Reagan ran up deficits.

So there is no need to worry. :)

/sarc

[xzins]

Let’s see. We don’t have enough money to pay our bills, so each month we pay our bills with a credit card to the tune of nearly a 100 billion bucks. Flat ass broke and still spending and spending and....100 billion a year in the hole.

So, to deal with that, we decided to add a 10 year, trillion dollar new expense....trillion plus actually, because those things are always more expensive than advertised.

Meaning we’re going to be 200 billion (current dollars) in the freakin’ hole next year and every year thereafter with it steadily getting worse.

We are ruining our nation because we don’t accept personal responsibility. Everybody has a sob story for why they need a handout.

[reader25]

Wow! The mismanagement of the current Administration and Congress is criminal. Even if in November we change the control of Congress we still have to deal with the massive debt and monthly deficits which the media will paint as mean spirited and unnecessarily cruel. We can expect at least two continuous years of bleeding heart stories of how the government is starving children and putting families out on the street. There needs to be an effective response to this or our success and efforts will be in vain.

It is just like the Democrats to create a mess, we get to clean it up and in the mean time the media and Democrats are making hay on how cruel we are. Despicable.

[rogertarp]

We are so gone . Get Gold and get auto weapons (pistols, rifles , and shot guns) maintain 50 gallons of fuel at all times and bicycles. Stock non perishable food!! . This is heading toward total collapse. Police and military will do nothing for free. Protect your family. Dig in.

[DemforBush]

I’m thinking about selling the mower and buying some goats to graze on my back 40 instead.

I figure once inflation kicks in from all this government spending, it’ll be the only way I’ll still be able to afford to eat every day...

[verity]

Just Another Normal Day

John Smith started the day early having set his alarm clock

(MADE IN JAPAN ) for 6 am.

While his coffeepot

(MADE IN CHINA )

was perking, he shaved with his

electric razor

(MADE IN HONG KONG )

He put on a

dress shirt

(MADE IN SRI LANKA ),

designer jeans

(MADE IN SINGAPORE )

and

tennis shoes

(MADE IN KOREA)

After cooking his breakfast in his new

electric skillet

(MADE IN INDIA )

he sat down with his

calculator

(MADE IN MEXICO )

to see how much he could spend today.... After setting his

watch

(MADE IN TAIWAN )

to the radio

(MADE IN INDIA )

he got in his car

(MADE IN GERMANY )

filled it with GAS

(from Saudi Arabia )

and continued his search

for a good paying AMERICAN JOB.

At the end of yet another discouraging

and fruitless day

checking his

Computer

(made in MALAYSIA ),

John decided to relax for a while.

He put on his sandals

(MADE IN BRAZIL ),

poured himself a glass of

wine

(MADE IN FRANCE )

and turned on his

TV

(MADE IN INDONESIA ),

and then wondered why he can’t

find a good paying job

in AMERICA

AND NOW HE’S HOPING HE CAN GET HELP FROM A PRESIDENT

(MADE IN KENYA )

[Art in Idaho]

Cloward-Piven strategy on steroids! Exponentially raise our deficit, destroy free market capitalism, destroy America's greatness, raise taxes, redistribute the wealth, start socialized medicine, continue an appeasement foreign policy, continue the racism class warfare scam, amnesty for illegals, take over our banks and major corporations - yeah, destroy America in any way possible - way to go Obama - you're on a roll. . . until November 2, 2010!. . and Never shall America make the same mistake again!

[Art in Idaho]

[Art in Idaho]

It is just like the Democrats to create a mess, we get to clean it up and in the mean time the media and Democrats are making hay on how cruel we are. Despicable.

That won't work anymore. Get in their face. Alinsky back at them. They ridicule, we ridicule. Take your pick, Rule 5, 8, 12? No more Mr. Nice Guy. They bring a knife, we bring a gun. . . We are in a Cold War with Obama and we shall not give up our Sacred Republic easily!

[rcrngroup]

Good summary! I followed the numbers & your calculations perfectly. I think your calculations & conclusions about $42M more spending in April 2010 from April 2009 is dead on. Obviously the solution (according the socialist RAT bastard demoRATs who are running our country into the ground) is MORE spending to "stimulate" the economy and more taxes to pay for the "stimulus).

The demoRATs solution for everything....
Times are good -- more taxes, more spending
Times are bad -- more taxes, more spending
Our country being devastated & run into the ground -- more taxes, more spending

Geez I hate 0b0z0 the commie pig & the socialist RAT bastards more every day!

[Munz]

I can hear it now .... Bush’s fault ...

[WOBBLY BOB]

from what I understand the deficit quadrupled just from LAST April to THIS one...Obama’s been TOTUS for 18 months...but OweBowMao will still claim he inherited this deficit.

[WOBBLY BOB]

A new report from Americans for Limited Government (ALG) clearly shows that the Democrats have destroyed our economy since they took control of our lives in January of 2007.

The most eye catching of ALG’s data items is the sad comparison of the rate of 4.6% unemployment at the start of 2007 and today’s alarming 9.7%. In real terms this means while there were about 7 million unemployed workers when the Democrats took over, today that number has more than doubled to 14.8 million out of work Americans.

At the rate they are going these swollen and devastating numbers will be with us as far as the eye can see, even by the Democrats’ own admission. The Democrats attempt to tell us to shut up because “this is the new state of the national economy” makes it even more important that we roll up our sleeves to fight for our freedoms.

The length of time Americans are unemployed has spiraled upward with a dizzying speed. In the month of January 2007 the average unemployment recipient had been on the rolls for 16.2 weeks. Today that too has all but doubled to 30.2 weeks with no end in sight.

In January 2007, when the Democrats took the reigns of government, America actually had a monthly surplus of $38.2 billion, as per data available from the Treasury Department. At the start of January this year, just three years later we sagged under the weight of a $46.6 billion monthly deficit.

More than this, when the Bush Administration combined with a Republican controlled Congress turned in a monthly surplus in January 2007 it was an increase of $21 billion over January 2006. During the final year of the last GOP controlled Congress, Treasury receipts increased “13% year-over-year to a record $260.6 billion.”