U.S. already $292 bln in the red this year - CBO

Posted by Kendall Harmon

The U.S. government racked up a gaping shortfall in the first two months of this fiscal year after posting a record budget deficit last year, congressional analysts said on Friday.

In October and November, the government spent $292 billion more than it took in, the nonpartisan Congressional Budget Office said.

That was even worse than the same period last year, when the government was on its way to posting a record $1.4 trillion deficit for the fiscal year that ended Sept. 30.

Read it all.

Filed under: * Economics, Politics • Economy • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government • Budget • The National Deficit

6 Comments
Posted December 9, 2009 at 4:53 pm [Printer Friendly] [Print w/ comments]



1. William P. Sulik wrote:

For these *two* months, the U.S. has spent 40.8 billion just in interest charges. 

This is insane - that’s nearly the equivalent of the entire budgets for NASA and the Department of Justice - combined!

Sources:
http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm
http://en.wikipedia.org/wiki/2010_United_States_federal_budget

December 9, 8:33 pm | [comment link]
2. Archer_of_the_Forest wrote:

And they think they can afford a new trillion+ dollar health care reform liability. They are absolutely mad as hatters.

December 9, 9:47 pm | [comment link]
3. Branford wrote:

Hey, elections have consequences.

December 9, 10:01 pm | [comment link]
4. CanaAnglican wrote:

It will be interesting to see the consequences of the next one.

December 10, 8:45 am | [comment link]
5. William P. Sulik wrote:

Don’t get cocky (or too hopeful) - Republicans are just as corrupt as this current group.  (Actually, I would argue they are worse - they promise to keep a tight hold on the purse-strings, but they’re just has profligate as the Dems.)

December 10, 11:55 am | [comment link]
6. CanaAnglican wrote:

My point was not that we would wind up with a less corrupt legislature, but perhaps one with a lot of new faces.  It will be interesting to see if the turnover rate sets a new record.  The local TEA group (of which I am not a member) is trying hard to effect that.

I have been a conservative, but fairly independent, voter for many years and have certainly watched the elections closely since 1948.  I have not seen many periods where the electorate has been so angry.  Bush II flunked the course and now Obama pushes the failure to higher levels.

December 10, 4:11 pm | [comment link]
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