Obama Adds $176 Billion to the Debt
Tags: Obama Deficits.
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The U.S. budget deficit for October surged to $176 billion, a record for the month, the Treasury Department announced today.
During the month, the government racked up $311 billion in outlays compared with $135 billion in receipts.
The October numbers mark the first month for the new fiscal year after the U.S. wrapped up the 2009 fiscal year that ended on September 30 with a record-high $1.4 trillion budget deficit due to increased government spending to stop the recession and the financial crisis. The final deficit for the 2009 fiscal year was equal to 10 percent of the nation’s GDP…
Just glad we did it ’cause it stopped us from having unemployment rise above 8%…
How’s that “hope and change” thing working out for you, liberals?
UPDATE: But don’t worry! The President is going to talk about it, some more.
Mark Noonan is co-author (with Matt Margolis) of Caucus of Corruption: The Truth About The New Democratic Majority. He also blogs at Nevada News and Views. Follow Mark on Twitter.
11 Responses to “Obama Adds $176 Billion to the Debt”
Caucus of Corruption
If they count reciepts the way they count new jobs created by the spendulus…we are in real trouble.
The final deficit for the 2009 fiscal year was equal to 10 percent of the nation’s GDP…
To put this in perspective, the average deficit/GDP percentage during the 12 years of Reagan and Bush 41 was 4.3%, a figure that was historically high at the time.
This is incredable! The dems and Obama have to have there head up their collective jackasses!
To put it in even further perspective, as recently as 2006, Bush 43’s deficit of $248 billion was only 1.9% of GDP. Who ever thought we’d be looking at Bush’s 8 years as “the good old days”?
Who ever thought we’d be looking at Bush’s 8 years as “the good old days”?
That started for me on January 20, 2009. The problem we have here is an financially illiterate populace with a current socialist administration that has no qualms of syphoning off the private sector capital to bring it under federal control, whether that means unemployment reaches 20%, the value of the dollar plummets, or debt reaches astronomical heights, it just doesn’t matter to them. They have an agenda, regardless of the consequences to America.
whether that means unemployment reaches 20%, the value of the dollar plummets, or debt reaches astronomical heights, it just doesn’t matter to them.
Unfortunately, it could end up being all three.
Wait!
Where is the modern liberal concern for deficit spending that they had during the Bush administration? Oh, they whined and moaned about saddling our children with debt.
They have no problem with deficit spending and saddling our GRAND-CHILDREN with their debt now.
Business as usual for one who ran as a “new kind of politician”.
Concern? The Trade Deficit has widened by the greatest amount in a decade. I recall the Libiots hereabouts foaming at the mouth over the unsustainable trade deficit during the last administration.
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Now that they’ve directly increased the trade deficit with the ban on oil exploration and government spending that accelerated the purchases of automobiles manufactured overseas, they remain oddly silent about the deficit.
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I assume the Oblahblah Community Organizing talk-athon over jobs scheduled for next month will devote the same deliberation and laser-like focus to the jobs situation as he’s given to Afghanistan. Destroy incentive, confiscate success, reward incompetence, prize intentions over results and above all, talk ~ talk ~ talk ~ talk ~ talk …
Speaking of the “jobs” forum Obama plans to hold next month…….didn’t Congress pass an 800 gazillion dollar stimulus package a few months ago that was going to “put people to work”??
Can you say that this forum is an admission that the stimulus failed?
Well way back when I had a Florida vacation back in the mid 90’s when the canuck dollar was worth only $.65 US, I came home with $100 in US money. Should have spent it all but I salted it away. I did eventually spend it this past August at Old Orchard Beach. I made a point to have any US$ left. The canuck $ will soon be on par with your US$. Keep going the way you are and it will be on par with monopoly money. Then you will have lots of Canuck tourists. Lucky you.
” I made a point to have any US$ left.”
Should have been “I made a point ‘not’ to have any US$ left.