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January deficit grows by $50B, on pace for $1.5T

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posted on Feb, 11 2011 @ 01:37 AM
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WASHINGTON – The federal government's budget deficit grew by $50 billion in January and is expected to finish the year as the highest in history.



The Treasury Department said Thursday the deficit was one of the highest ever for the month of January, second only to the $63 billion deficit recorded two years ago. For the first four months of this budget year, the deficit totaled $418.8 billion, 2.7 percent lower than the same period a year ago.



However, this improving trend is expected to reverse in coming months. The Congressional Budget Office is projecting a record deficit of $1.5 trillion this budget year, which ends in September. The estimate was revised upward last month based on a tax-cut package brokered between the White House and Republicans that will add $400 billion to this year's red ink.


All these trillions and billions floating around. Does another $1.5 trillion even really matter that much anymore? Its the 3rd consecutive year that the governments deficit has exceeded $1 trillion.....

Whats next? A deficit of $5 gazillion?




posted on Feb, 11 2011 @ 01:45 AM
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50 Billion deficit

Trillions in debt

Charging it to your Grandchildren


PRICELESS!!!!!



posted on Feb, 11 2011 @ 01:56 AM
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reply to post by buni11687
 


Yep it's pathetic, and evidently Obama, the Democrats and the Republicans have proven that they don't give a damn any more. You what needs to happen, somebody needs to shut down the governments ability to spend on defense and military aid, we also need to look to welfare reform. We've already surpassed the $14 trillion mark, this is just unforgivable.



posted on Feb, 11 2011 @ 01:58 AM
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Originally posted by jam321
50 Billion deficit

Trillions in debt

Charging it to your Grandchildren


PRICELESS!!!!!



Somebody is going to have to pay for all this debt soon, and I doubt it's going to be peaceful. I really fear where this nation is heading with all this debt Jam, I really do. Thought maybe things would change over time, nope. We are going to have to pay with something sooner or later...



posted on Feb, 11 2011 @ 03:12 AM
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Originally posted by Southern Guardian
we also need to look to welfare reform.


We need jobs first.



posted on Feb, 11 2011 @ 07:00 AM
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Yeah were looking at a 1.5 trillion deficit and these clowns are proposing cutting a billion bucks. Yippee. The plan to bankrupt America and install a one world currency continues. Next up oil not traded in dollars anymore which will be the final straw.



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