Federal government borrowing $4.8 billon per day
The age of $1 trillion-plus deficits continue. So far the federal government has overspent, resulting in the need to borrow $292 billion in October and November. We’re on track for a $1.75 trillion deficit for the current fiscal year.
The federal government ran a deficit of $292 billion for the first two months of fiscal year 2013 – October and November 2012 – amounting to $4.8 billion of borrowed money each day.
“The federal budget deficit was $292 billion for the first two months of fiscal year 2013, $57 billion more than the shortfall recorded in October and November of last year,” CBO said in its Monthly Budget Review Friday.
On Nov. 14, Fox News asked if we could be heading for another $1 trillion deficit. HA! We’re going to blow that away.
- 2009 – $1.413 trillion deficit
- 2010 – $1.294 trillion deficit
- 2011 – $1.299 trillion deficit
Obama owns it … we’re heading for $1.75 trillion.
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Based on a population of 309 million, that is about $15.50 per person per day… which adds up to $5,657.50 per year for each person counted NOT just those who are working.? It kinda renders meaningless the tired mantra of making the rich (who are already paying more than their fair share) to pull more of the load.
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So the Treasodent is lying- because he can’t possibly believe what he is saying.? He is using demagoguery to divert and distract from an agenda that he knows fully well is not in our best interests and won’t solve anything.
Red ink for a Blue country. Take the blue anyway you want.
I’d say we were marooned.
http://www.bloomberg.com/news/2012-12-10/chinese-investors-buy-80-of-aig-plane-unit-for-4-23-billion.html
If people don’t understand, why it is bad for the US to be in debt, just read the link. It was headlined “China Goes Shopping in the US” it’s from Bloomberg and was on ‘Drudge Report’. To me this means , China will soon be able take over the US without firing a shot.
Sad but true. I’m sure that politicians, past and present, are proud of selling out America and the ascendancy of the Chinese. Obama must be gratified to see the results of his policies.
Whether or not they acknowledge it, accelerating as fast as possible to bankruptcy is what this WH is doing.? Beyond wreckless spending and beyond the cost of war, it’s a wanton disregard for any rule that may otherwise bind them from thier goal(s) of a western European-styled Socialism.
If the Republicans cave, I vow to vote for 3rd party candidates forever (local, State, Federal).? I may lose but I’m losing now – I’ll at least have personal dignity.? And don’t think this debt cieling increase – which has been raised 107 times before – is something ‘they’ should allow?to be increased. ?NO.? Constitutional crisis my arse.
I only wish my allowance had been raised 107x, I’d be rich….?
1.? Don’t enable the spending addicts.?
2.? The Chinese still has the 1 child program, correct?? Did Obama give any consideration to which child?he will keep?? He is pro-choice is he not?? Maybe there is a down side to being a Democrat/liberal/progressive/socialist.
3.? When the Chinese come, I recommend that those who don’t have lawfully obtained and used guns ?to throw the politicians, bankers and lawyers at them.? And don’t even think about hiding behind the military.