Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
01-15-2009, 12:11 AM #1
- Join Date
- May 2007
- Location
- South West Florida (Behind friendly lines but still in Occupied Territory)
- Posts
- 117,696
US Budget Gap Deficit At New All-Time Record
U.S. Budget Gap Sets Record for Fiscal First Quarter (Update2)
By Rebecca Christie
Jan. 13 (Bloomberg) -- The U.S. budget deficit soared to a record in the first quarter of the 2009 fiscal year, surpassing the shortfall for all of last year as the government used taxpayer money to shore up the financial system by purchasing stakes in banks.
The deficit swelled to $485.2 billion in the first three months of the fiscal year that started Oct. 1, the Treasury said today in Washington. For all of 2008, the shortfall was $454.8 billion. The monthly budget picture also worsened, as the excess of spending over revenue widened to $83.6 billion in December, compared with a $48.3 billion surplus a year earlier.
President-elect Barack Obama will take over Jan. 20 facing the biggest budget deficit as a percentage of U.S. gross domestic product other than during the Civil War and the two World Wars, his nominee to head the Office of Management and Budget said today.
“We are inheriting a daunting fiscal position,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
Treasonous Congress Funds Billions For Middle East Invasion...
05-02-2024, 01:28 AM in Videos about Illegal Immigration, refugee programs, globalism, & socialism