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US Posts Biggest March Budget Deficit In History
ZeroHedge ^ | 4/11/2012 | Tyler Durden

Posted on 04/11/2012 1:00:26 PM PDT by GlockThe Vote

Following the all time record high February budget deficit of $232 billion, the US March budget deficit number is in, and in addition to being bigger than expected, coming at $198.2 billion on expectations of "only" $196 billion, the government outlay in the past month also is the largest March deficit on record. This brings the total deficit in fiscal 2012 to $779 billion, which is to be expected for a country gripped in total political chaos and which is unable to either raise revenues or lower spending. What is more disturbing is that over the same period (Oct 1 2011 - March 31, 2012), the US government issued $792 billion in debt, a trend that will continue. What is most disturbing is that the comparable tax revenues net of refunds, "matching" this increase in deficit and spending, are only $693 billion, in other words the US government is funding well more than half of its cash needs with debt rather than with tax revenue. Just like Japan.

(Excerpt) Read more at zerohedge.com ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events
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Hey lets obsess over Zimmerman!!!!
1 posted on 04/11/2012 1:00:31 PM PDT by GlockThe Vote
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To: GlockThe Vote

“Unexpectedly” bad numbers


2 posted on 04/11/2012 1:04:00 PM PDT by Oshkalaboomboom
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To: GlockThe Vote

Where the heck is that non-tax-paying John Galt?


3 posted on 04/11/2012 1:05:42 PM PDT by Paladin2
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To: GlockThe Vote
If this 2-month trend continues, we will be another $2.581 TRILLION in debt at the end of this year.

Who will buy our debt? Even the Fed has to have limits.

4 posted on 04/11/2012 1:05:50 PM PDT by backwoods-engineer (I will vote against ANY presidential candidate who had non-citizen parents.)
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To: Oshkalaboomboom

Recovery? We don’t need no stinkin recovery!


5 posted on 04/11/2012 1:07:23 PM PDT by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: GlockThe Vote

And this with a GOP controlled house. So electing Romney will fix what exactly?


6 posted on 04/11/2012 1:09:09 PM PDT by Drill Thrawl (The United States of America, a banana republic since 1/21/2009)
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To: Drill Thrawl

Electing Obama certainly wont.


7 posted on 04/11/2012 1:15:30 PM PDT by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: GlockThe Vote

George W. Zimmerman’s fault?


8 posted on 04/11/2012 1:16:54 PM PDT by VanDeKoik (If case you are wondering, I'm supporting Newt.)
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To: GlockThe Vote

Obama is the “historic” president


9 posted on 04/11/2012 1:19:59 PM PDT by hattend (Jesus wants me to make churches pay for abortions. - Barack Obama)
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To: Oshkalaboomboom
It seems to me that ‘unexpected’ is an excuse/explanation that you can use with a straight face, about ONCE!
10 posted on 04/11/2012 1:21:16 PM PDT by SMARTY ("The man who has no inner-life is a slave to his surroundings. "Henri Frederic Amiel)
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To: SMARTY
It seems to me that ‘unexpected’ is an excuse/explanation that you can use with a straight face, about ONCE!

Exactly. If I hear unexpected more than 2-3 times, I start hearing "incompetent" instead.

11 posted on 04/11/2012 1:24:51 PM PDT by IamConservative (Shall I try and perhaps fail or shall I do nothing without fail?)
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To: backwoods-engineer

The US Gov’t typically has its lowest revenues in Feb/March (before tax-time) so one can’t simply use these 2 months to predict the whole year.

Regardless though it is BAD. What is really scary is that the Federal Gov’t, for the last six months, has borrowed nearly half of what it spends. Incredible.


12 posted on 04/11/2012 1:25:20 PM PDT by PGR88
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To: backwoods-engineer

“Even the Fed has to have limits.”
I just heard Fmr. Fed Gov Frederick Mishkin say expansion the Fed balance sheet of $2.9T is NOT a big issue.
The issue is the ‘Political Economy’. WTH?


13 posted on 04/11/2012 1:31:35 PM PDT by griswold3 (Big Government does not tolerate rivals.)
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To: backwoods-engineer
If this 2-month trend continues, we will be another $2.581 TRILLION in debt at the end of this year.

If this trend continues, the debt limit will be reached before the election in November. With few exceptions, that is every incumbent Senator's and Representative's worst nightmare, i.e. the thought of increasing the debt limit before the elections.

Their opponents will be on the campaign trail, while they're actually having to do their jobs...the HORROR!

14 posted on 04/11/2012 1:31:35 PM PDT by Night Hides Not (My dream ticket for 2012 is John Galt & Dagny Taggart!)
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To: GlockThe Vote
Romney will fix this, He said so during his campaign.
Good thing both parties told us they will.

After election;
The problem here is that it will take "ten years" to get anything
done about the deficit and right now we have more important issues.

1971: Drilling will take ten years to effect fuel prices and there are more important issues.

1981: Drilling will take ten years to effect fuel prices and there are more important issues.

1991: Drilling will take ten years to effect fuel prices and there are more important issues.

2001: Drilling will take ten years to effect fuel prices and there are more important issues.

2010: Drilling will take ten years to effect fuel prices and there are more important issues.


Neither party will give a damn about the debt while they are in power.
It's only when either party is out of power that they point out the monstrosity
of the current debt and claim that something must be done asap.

15 posted on 04/11/2012 1:31:55 PM PDT by MaxMax
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To: PGR88
What is really scary is that the Federal Gov’t, for the last six months, has borrowed nearly half of what it spends. Incredible.

Reread the article.

The Fedderal Gov't borrowed MORE than half of what spent.

By nearly $100 billion.

16 posted on 04/11/2012 1:36:37 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: MaxMax

Ironic that this week is the anniversary of the titanic sinking no?


17 posted on 04/11/2012 1:39:21 PM PDT by GlockThe Vote (The Obama Adminstration: 2nd wave of attacks on America after 9/11)
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To: MaxMax
The majority of Americans do not understand the way DC reports spending cuts.

1. If you spend $100 a month on golf, and cut that to $50, then you have
effectively cut spending.

2. If DC is spending $100 a month on golf and plans to spend $200 next year,
then decides to only spend $150, they call that a spending cut even though it's $50 more.

The American public does not know how the numbers are being fudged and
neither side will spend a moment to inform them.

18 posted on 04/11/2012 1:45:26 PM PDT by MaxMax
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


19 posted on 04/11/2012 2:00:54 PM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: All


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20 posted on 04/11/2012 2:01:21 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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