Posted on 02/10/2011 12:29:22 PM PST by NormsRevenge
WASHINGTON (AP) -- The federal government's budget deficit grew by $50 billion in January and is expected to finish the year as the highest in history.
The Treasury Department said Thursday the deficit was one of the highest ever for the month of January, second only to the $63 billion deficit recorded two years ago. For the first four months of this budget year, the deficit totaled $418.8 billion, 2.7 percent lower than the same period a year ago.
However, this improving trend is expected to reverse in coming months. The Congressional Budget Office is projecting a record deficit of $1.5 trillion this budget year, which ends in September. The estimate was revised upward last month based on a tax-cut package brokered between the White House and Republicans that will add $400 billion to this year's red ink.
(Excerpt) Read more at finance.yahoo.com ...
Let me see. Defecit up 50 bil in one month. They will cut 50 bil in a year. Yep that makes sense.
Big Gubamint is like a giant Ponzi scheme and there’s no end in sight.
We keep rolling the dice on who we send to Congre$$
and they keep coming up Snake Eyes.
High treason.
Correction: They will cut 32 billion, IIRC. Even better. /s
There is no financial crises, nothing to see here. Move along.
There is no financial crises, nothing to see here. Move along.
But that is the one thing we absolutely must do. Nothing else can possibly slow the outflow. The politicians will not cut spending by choice. It must be forced upon them.
We can easily cut $100B just let it grow by $200 Billion first!
A plan both parties can agree on.
Ah, politics.
I should have been buying gold a lot sooner, unlike my wife who has bought it for years before I met her.
—
asking spending addicts to reform their way is no easy feat..
the debt ceiling was put there for a reason
now if we only had elected officials that recognized it.
The list, ping
Let me know if you would like to be on or off the ping list
Hey, no problem, I got an Uncle Ben over at the FED..
how much do ya need?
A spending we will go. A spending we will go. High ho the IslamO, a spending we will go.
WE WANT THE ENTIRE $100 BILLION CUT AND WE WANT IT NOW! Hold their feet to the fire, make them honor their campaign promise. The people in Egypt are fighting for their very lives and we can’t even get a budget cut. Dept. of Education- GONE! EPA-GONE! Fish And Game- GONE! Forest and Ag Welfare-GONE! Let the states take over any “environMENTAL” programs like parks, hunting areas, etc. There is your 100 billion and more.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.