Federal deficit tops $1 trillion through June (and 'WE' got 3 months to go to blow more dough)

AP on Yahoo ^ | 7/13/10 | Martin Crutsinger - ap

[NormsRevenge]

WASHINGTON – The federal deficit has topped $1 trillion with three months still to go in the budget year, showing the lasting impact of the recession on the government's finances.

In its monthly budget report, the Treasury Department said Tuesday that through the first nine months of this budget year, the deficit totals $1 trillion. That's down 7.6 percent from the $1.09 trillion deficit run up during the same period a year ago.

Worries about the size of the deficit have created political problems for the Obama administration. Congressional Republicans and moderate Democrats have blocked more spending on job creation and other efforts. Republicans also have held up legislation to extend unemployment benefits for the long-term jobless because of its effect on the deficit.

Another failed effort would have provided cash-starved states with money to help avoid layoff of public employees and finance the Medicaid program for the poor and disabled.

[NormsRevenge]

It’s OK, Our kids and grandkids and their kids kids kids are loaded.. Right? ;-]

[NormsRevenge]

Fed survey: investors have bigger debt appetite
http://news.yahoo.com/s/ap/20100713/ap_on_bi_ge/us_fed_credit_1

WASHINGTON – A new Federal Reserve survey finds investors have a bigger appetite to fund a range of securities, an encouraging sign that credit conditions are improving.

The Fed, in its first such survey, released Tuesday, says demand has increased over the last three months for funding high-grade corporate bonds, stocks, residential mortgage-backed securities issued by Fannie Mae and Freddie Mac and other asset-backed securities.

[NormsRevenge]

Ouch.. That's gotta leave a mark in November ..

President Barack Obama speaks at a fundraiser for Senator Harry Reid
in Las Vegas, Nevada July 8, 2010. REUTERS/Kevin Lamarque

[junta]

But without a disfunctional government budget our banks would be insolvent, because somebody gets to borrow FED funny money so they can buy gooberment funny paper and make a spread that we tax payers can pretend we are going to pay back.

[NormsRevenge]

Fed says credit somewhat looser in last 3 months
http://news.yahoo.com/s/nm/20100713/bs_nm/us_usa_fed_credit

WASHINGTON (Reuters) – Hedge funds and private equity firms had an easier time raising capital in the last three months, but the market for asset-backed securities remains crippled, according to a new Federal Reserve survey.

The Fed’s first-ever Senior Credit Officer Opinion Survey, released on Tuesday, suggests financial markets are still fragile because banks are reluctant to lend. But it also shows conditions are improving, if slowly.

[caver]

“spending on job creation”

Not possible.....

[cranked]

...and it was “deemed” so..... =.=

[Southack]

Remember that the 0bama Administration has preventing the publication of the annual Social Security report this year...so the numbers must be pretty bad there, too.

[Parley Baer]

As said on another post Obama is using our kids future and an ATM machine.

[seanhackbarth]

Senate Republicans returned home over the July 4 break and heard Americans’ concerns about the national debt and out-of-control spending. It’s not surprise we see the Democrats’ fiscal failure has turned off independent voters. Check out this video shown to Senate Republicans at their weekly lunch today:

http://www.youtube.com/watch?v=vNW2tKUzDg8

[GailA]

5 months, even if we succeed in voting them out, they are there until Jan. and will be VERY DANGEROUS.

[JDW11235]

He looks more aged and diabolical with each passing day...

[Jim Robinson]

"and 'WE' got 3 months to go to blow more dough"

Never fear. The Obamassiah is here.

[Tzimisce]

Well we just need to raise taxes again....

[servantboy777]

Go ahead....spend till it breaks.

It’s time for a redo in government.

Do you hear us NOW! You will in November!

[hattend]

The federal deficit has topped $1 trillion with three months still to go in the budget year, showing the lasting impact of the recession on the government's finances.

Don't you love how it's reported. It a major impact on GOVERNMENT finances.

I guess it really IS their money.