US to borrow 46 cents for every dollar spent

WASHINGTON – The government will have to borrow nearly 50 cents for every dollar it spends this year, exploding the record federal deficit past $1.8 trillion under new White House estimates. Budget office figures released Monday would add $89 billion to the 2009 red ink — increasing it to more than four times last year's all-time high as the government hands out billions more than expected for people who have lost jobs and takes in less tax revenue from people and companies making less money.

This does not really suprise me but I hadn't really given any guesstimations as to the amount. I have a feeling that this is only going to get worse.

As unemployment keeps rising and more businesses continue to lay people off and/or go out of business it IS only going to get worse. If it's already up to $0.46 for every dollar, how MUCH worse is the question. They "say" it's going to go down for 2010 but to be honest I don't see it going down unless things drastically improve with the economy.

What are your thoughts?

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[edit on 11-5-2009 by cnichols]

Ah....silly me. It looks like there is really nothing to worry about. As you can see here...everything looks like it's going to be fine after all.

We need to stop worrying about the deficit...it will all work out in the end. Just think positive! Pretend that what the government is telling us is true...and it will be true...because they know best.

I heard about this on the Lou Dobbs show. China is mad at us. So they're going to charge 46% interest on us for each dollar they spend. I don't know where else they would get the money from.

They're either borrowing it from China or making it out of thin air.

[edit on 11-5-2009 by Frankidealist35]

[edit on 11-5-2009 by Frankidealist35]

Just who do they think will pay it back ?

Does anyone really believe it will ever be payed back ?

Will that lack of faith in our ability to repay this money prove detrimental to our economy long or short term ?

reply to post by Frankidealist35


Oh yeah...they have to inflate it. It's not possible to pay all this off with taxes...well...in name anyway.

They'll just hammer all of us with more inflation....a hidden tax on every single man, woman, and child...no matter color or religion.

Even those on the government dole will see the money they receive dwindle in value as prices continue to rise.

I wish people were a bit smarter on inflation.

From what i've read (correct me if i'm wrong) the inflation rate up to this year was 4 percent/year.

That means you have to make 4 percent more than you made the year before JUST TO KEEP UP with rising prices.

reply to post by David9176

I agree. They're going to tax us to pay off the borrowing.

They're going to steal money from the private sector or from China.

People act like more government spending doesn't cause inflation. But that's total bull. I agree with you on that.

More money=more inflation

This is a good video you should watch about inflation

www.foxbusiness.com...


[edit on 12-5-2009 by Frankidealist35]

reply to post by David9176


My favorite is when they stop calculating certain things into the inflation equation , there by giving the appearance that inflation is not all that bad .

See they do care about us

The best is that they keep chanting "Tax cuts for 95 percent of Americans!!!"

Yeah...8/13 dollars a week...that will expire anyway....and be completely TROUNCED by inflation.

It's nothing but a gimmick....a lie...a joke.

Originally posted by Max_TO
Just who do they think will pay it back ?

Does anyone really believe it will ever be payed back ?

Will that lack of faith in our ability to repay this money prove detrimental to our economy long or short term ?

Both long and short term... This video may seem to be off topic, however, if you want to get to the real meat of the information skip ahead and listen closely to what Dr. Ron Paul says at appx. 4:08 in this video...



He doesn't say "IF" the dollar fails he says "WHEN" the dollar fails... within context of ... people relying on their respective states when the federal gov't fails to deliver.

It's clear that he expects the dollar to fail in the (near?) future.

He seems like a trustworthy source.

EDIT to add : this video shows posting date of 04/19/09

[edit on 5·12·09 by DrMattMaddix]

I know things are going to get worse. I don't doubt it at all. All one has to do is open their eyes and you can SEE it's going to get worse. The shame is that there are so many people who are sleeping or won't see to save their own lives.

There are too many things that are not being admitted by the government. Too many things that they are keeping out of their calculations simply to dupe people into believing that things are getting better or at least not any worse.

And when it comes down to it, when inflation strikes (as we're all pretty darn sure it will) people are going to start going hungry because they won't be able to feed their children or themselves. Things are going to get very ugly in the next 12 months. Of that I'm sure.

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p.s. David I love your posts! I always enjoy your insight and wit.