Free Markets, Free People


In case you missed it: US posts 19th consecutive monthly deficit

What’s of note in this particular month’s deficit is that April, because it is the month federal income taxes are collected, usually posts a monthly surplus.  But not this one:

The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.

As it turns out not the last one either, although it is telling that the deficit for this April was so much larger than last – it simply demonstrates the depth of the unemployment problem.

It was twice as large as it was predicted to be. And I had to laugh at this:

For the first seven months of fiscal 2010, which ends September 30, the cumulative budget deficit totals $799.68 billion, down slightly from $802.3 billion in the comparable period of fiscal 2009.

Outlays during April rose to $327.96 billion from $218.75 billion in March and were up from $287.11 billion in April 2009. It was a record level of outlays for an April.

Department officials noted there were five Fridays in April this year, which helped account for higher outlays since most tax refunds are issued on that day.

Uh, no – there were higher outlays because government is still spending too damn much money. It wouldn’t particularly matter how many “Fridays” there were in a month if the spending was cut, would it?

The U.S. full-year deficit this year is projected at $1.5 trillion on top of a $1.4 trillion shortfall last year.

That PAY-GO thingie is impressive as hell, isn’t it?  Aren’t you glad Congressional Democrats reinstituted it?

White House budget director Peter Orszag told Reuters Insider in an interview on Wednesday that the United States must tackle its deficits quickly to avoid the kind of debt crisis that hit Greece.

More lip service from an administration that seemingly equates that with taking action.

You’re in good hands, people.

/sarc

~McQ

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6 Responses to In case you missed it: US posts 19th consecutive monthly deficit

  • Cloward -Piven, right on-course.

    Don’t make the mistake of assuming 0-Bambi doesn’t know what he’s doing…

  • “must” tackle these deficits quickly.

    Meanwhile, I ‘must’ lose weight, and ‘must’ become more handsome, younger and more attractive to women.  Given the current government I suppose the things I must do are about as likely to occur as the current administration ‘tackling deficits’.  Come to that, what exactly does that even mean?  I know many of us will read that to mean get them under control, but at this point I wonder if that’s even what he means when he says something like that.

    Whatever happened to those departmental budget cuts Imeme demanded last year?

  • Orszag also mentioned that Obama’s “no tax hikes” PLEDGE wasn’t really a pledge, just a statement of preference.

  • White House budget director Peter Orszag told Reuters Insider in an interview on Wednesday that the United States must tackle its deficits quickly to avoid the kind of debt crisis that hit Greece.

    Hmph.  This is akin to Teddy Kennedy hectoring people about the need to lay off the bottle, or Hef wagging his finger about monogamy and refusing to look at women as sexual objects.

    Do the dems actually believe the things they say?  Or are they willfully – with the aid of MiniTru – continuing to perpetuate a huge lie on the American people?  I’m guessing the latter.

    • Based on his comments yesterday at a Dem fundraiser, Obama is going to ride the “it’s their fault, not ours” theme right into the ground.  Ironically (as Ed at HotAir pointed out) his comments denying Republicans another chance at messing up the economy came just hours after he criticized them for ‘staying on the sidelines’ as Democrats worked to repair the economy (via such successful means as TARP, Porkulus, taking over GM, handing Fannie and Freddie a blank check, and so on).

  • There is gong to be a lot of ruin and a lot of crying before this whole damn thing shakes out.  We have not seen the bottom yet.  Get yourself ready. Save your money and buy some gold, keep a lot of food stocked up, and if you have a safe little building in the backyard that you can lock up, then get about 10 -20 gallons of gasoline.

    I don’t like to sound like a survivalist nut, but better prepared than caught unawares.

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