[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!”

[DuncanWaring]

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

[Zeddicus]

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

[Night Hides Not]

How unexpected.

[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.

[hattend]

[crickets chirp in DC]

[Tulsa Ramjet]

Chicago,..we have a problem...

[tnlibertarian]

Okay, let’s do some ciphering as Jethro would say.

This year, April revenues were $245.3 billion and were down 7.9%. That means that last year’s April revenues were $266.3 billion. If there was a $20 billion deficit, then spending must have been $286.3 billion in April 2009.

This year, there was a $82.7 billion deficit with $245.3 billion in revenue. Which means spending was $328 billion.

So, revenue went down $21 billion while spending went up by $41.7 billion. But the problem, of course, is a lack of revenue.

[businessprofessor]

The large number and size of refundable tax credits is a substantial factor. Democrats have given refundable and non refundable tax credits like candy. They have created a vicious tax system in which almost 50% of the population pay little or no federal income taxes and the top 5 to 10% have confiscatory tax rates. This system creates dual incentives for non compliance and lack of effort. At the low end, working more results in loss of lucrative tax credits. At the top end, working more means entry into confiscatory taxation. Some of these refundable tax credits are given without regard to income for Democrat priorities such as renewable energy. These tax credits are misallocating scarce resources for areas with little potential for economic viability.

[wmfights]

However, income tax payments were down this April, reflecting the impact of a severe recession which has pushed millions of people out of work.

The revenues weren't down because of unemployment. They were down because the producers have cut back in what they do.

[opentalk]

Obama (soros) is still committing US to more foreign aid and debt. Really seems like an attack on our dollar and freedom. Spread the wealth globally to an extreme.

[gathersnomoss]

...”$82.7 billion, the largest imbalance for that month on record.”

Bush’s fault.

Nice job POS Government Media!

[vpintheak]

OBAMA’S FAULT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Wyatt's Torch]

Reagan's first YEARLY budget deficit was $72 billion...

Reagan’s Budget Legacy

[mo]

The Revenue Collapse...as the Democratic Party progresses in their shutdown of America, USA.

[ichabod1]

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.

Wha? I thought the recession wuz OVEH!?!?!?!

[RKBA Democrat]

From the article: “However, income tax payments were down this April, reflecting the impact of a severe recession which has pushed millions of people out of work.”

Partly true, but it doesn’t begin to tell the tale. The shifting of the tax burden to the few who produce a lot has had a predictable effect; those who can avoid taxation avoid it, those who can’t reduce their productivity.