U.S. Budget Disaster Strikes – March Outlays 2.5 Times Income!!

Nathan's Economic Edge

March deficit hits $192 billion has receipts drop 28%, outlays rise 41%

By Rex Nutting, MarketWatch

WASHINGTON (MarketWatch) -- The U.S. federal budget deficit rose to a record $956.8 billion in the first six months of the fiscal year after the government stepped up spending to cope with a recession that has depressed tax receipts, the Treasury Department reported Friday.

This article is a must read for anyone who wants to know exactly how screwed we are and how bad things are about to get. And please, if you have no intention of reading the article and only want to comment on how it's Obama's fault, don't bother posting in this thread. Obama's first budget is for NEXT year, this is happening RIGHT NOW.

While reading this "They say" by System of a Down came on.


How appropriate. Google the Lyrics if you havn't heard the song.