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Title: U.S. Posts Record Budget Deficit of $221 Billion in February [Thank You Little Boy Blunder For The Gift That Keeps On Giving]
Source:
BBG
URL Source: http://www.bloomberg.com
Published: Mar 10, 2010
Author: Vincent Del Giudice
Post Date: 2010-03-10 14:21:54 by war
Keywords: None
Views: 3894
Comments: 42
March 10 (Bloomberg) -- The U.S. posted its largest budget deficit on record in February as the government boosted spending to help revive the economy. The excess of spending over revenue increased to $221 billion last month, compared with a deficit of $194 billion in February 2009, according to Treasury Department figures released today in Washington. In fiscal 2009 that ended in September, the shortfall reached a record $1.4 trillion. A deficit that will probably exceed $1 trillion for a second year underscores the challenges facing the Obama administration and Congress as they seek to preserve the recovery, spur job growth and pass health care reform. The loss of 8.4 million jobs the last two years has been limiting tax revenue, while stimulus efforts such as the first-time homebuyers credit have added to expenses. “It’s mostly the recession if you look at the deficit numbers,” said David Wyss, chief economist at Standard & Poor’s in New York. To finance the shortfalls, “we’re borrowing a lot of money from abroad. At some point, foreign investors are going to be unwilling to fund it,” he said. The February deficit was in line with the $222 billion economists anticipated, based on the median of 31 estimates in a Bloomberg News survey. Projections ranged from shortfalls of $180 billion to $225 billion. The non-partisan Congressional Budget Office, in a report issued March 5, projected a deficit of $223 billion for February. Spending for February increased 17 percent from the same month a year ago, to $328.4 billion. Revenue and other income rose 23 percent to $107.5 billion, according to the Treasury. First Five Months The deficit five months into the 2010 fiscal year was $651.6 billion compared with $589.8 billion during the same period in the previous fiscal year. Corporate tax receipts totaled $45.4 billion for the year to date versus $52.8 billion in the same five months in fiscal 2009. Individual income tax collections were down 14 percent so far this fiscal year to $334 billion. In other categories, spending by the Social Security Administration rose to $308.6 billion from $290.1 billion for the fiscal year to date. Spending by the Department of Health and Human Services, which administers the Medicare and Medicaid health programs, rose to $342 billion from $319.6 billion. Defense Department spending rose to $273.9 billion from $267.4 billion, while spending on the Troubled Asset Relief Program fell to $8.7 billion from $113.3 billion. The government’s $787 billion economic rescue plan contributed to the record deficit in fiscal year 2009. The shortfall will probably exceed $1 trillion this year, according to the White House and congressional budget officials. Debt Limit Mounting monthly deficits prompted President Barack Obama to sign a bill on Feb. 12 that raised the federal debt limit by $1.9 trillion to $14.3 trillion. The increase was required to keep the U.S. from defaulting on its bills. It is more than twice the size of any of the four previous debt increases lawmakers approved in the past two years. The CBO said March 5 that the Obama’s 2011 budget proposal would create bigger annual deficits than projected. The CBO said the budget shortfall will remain above 4 percent of gross domestic product for the foreseeable future while the publicly held debt will reach $20.3 trillion, or 90 percent of GDP, by 2020. Economists generally consider deficits exceeding 3 percent of GDP to be unsustainable because that means government debt is growing faster than the ability to pay back the money. Obama’s budget request projected the government would run $8.5 trillion in deficits over the next 10 years.
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#1. To: all (#0)
First Dan Rather talks about Owe-bama not being able to sell watermellons on the side of the road with a state trooper stopping traffic. Today my anti groupie is here calling him 'boy'? You can't make this shit up.
my anti groupie can't get through life without me.
This is Sambo's deficit.
There is very little value added in seeing your posts, puddin'.
Day 17 of Packrat refusing to register here. Day 15 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
It's just another venue to show the world he can come up chimp photos too. lolol
I put him on ice for a few days...he's starting up with the crap that made me take a break from LP last year. Odd that Boofer is chastising us for continuing to post at LP while the racism got ramped up but that he remains silent here as Puddin' operates as if this were LP. But that's our Boofer. Stupid is fucking hell and willing to share... That will always be the irony of my banning...you can call Obama a nigger but you can't call packrat a pervert.
Day 17 of Packrat refusing to register here. Day 15 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
Courtesy ping Boof...
Day 17 of Packrat refusing to register here. Day 15 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
Goldi doesn't like black people is one explanation.
So why do you bother soiling this site with your vacuous and inane commentary? ... yukon haha lots of laughing out loud
I probably have about 250 LP threads saved through the years...it is something to look back thru old conversations and see how people like Goldi and Boofer absolutely melted down thru the years. Boofer even got too goofy for Goldi when she was still playing with face cards...
Day 17 of Packrat refusing to register here. Day 15 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
lol I love Goldi's meltdowns. I check in once a week to see if she's started a new 'New Civility' type thread. Her philosophies are awesome (ly entertaining).
So why do you bother soiling this site with your vacuous and inane commentary? ... yukon haha lots of laughing out loud
I put her on the Eaten Up With The Goofies list when she started screeching about the Bilderbergs decreeing that Edwards would be POTUS and Hillary VPotus...
Day 17 of Packrat refusing to register here. Day 15 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
You can? So you're cool with that.
I wonder if she and packrat have a mutual sympathy fuck arrangement... Oh...wait...Goldi is over 13 and a woman... Never mind...
Day 17 of Packrat refusing to register here. Day 15 Of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
The Owe-Bama/Pelosi/Reid deficits are historically all time highs, as are the foreclosures on their watch. The liberals like my laughable anti groupie, GO65, and others can pretend otherwise, but the fact is a polical 'perfect storm' is about to break upon them all come November. No stopping it now.
my anti groupie can't get through life without me.
I'll wager a double order of wings that it's because in real life, Nurse Ratched calls him a n****r too.
We'd be on the same side of that market...
Day 18 of Packrat refusing to register here. Day 16 of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
His banning was inevitable.
my anti groupie can't get through life without me.
But still 3 years after yours. HA HA... Rumor is that you recently got booted from Da Queef, Boof.
Day 18 of Packrat refusing to register here. Day 16 of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
I still don't see how we're suddenly going to get the budget deficit under control by restoring to power the folks that destroyed the budget in the first place.
Being a Republican means you get to choose your own reality.
It wouldn't surprise me in the least to see that. People are stupid. And don't forget that while it may be public that 25% - 1 in 4 - still would be supporting Boy Blunder - I'll bet that number could go up 5-10% if more had no shame.
Day 18 of Packrat refusing to register here. Day 16 of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
You don't continue to employ people that fuck up, GO65. The arrogance of the GOP brought about its downfall in 2006. The arrogance of the Dems is bring about their downfall in the year 2010. The fact that the leadership of the GOP, in particular in the House of Reps, was FIRED constantly seems to escape you as the above indicates. Its not the same. Guys like Boehner were despised by Delay and Hastert. So we fire those in the majority this time around, knowing if the next group of GOP leaders fuck up, we fire them in 2012. I don't see how anyone can continue to support Queen Pelosi as Speaker, given the number of scandals unfolding, the record deficits, and the gorss abuses of power. Combined with a total ignoring of 'We the People' as it relates to this abhorrent nationalization of healthcare, the current and coming tax hikes.
my anti groupie can't get through life without me.
Dey love doze in da hood.
You know, you really have to feel bad for the black folks in America today... They FINALLY overcame, and elected the FIRST Black President, and he's proven to be a communist, a usurper, and an idiot. They really want to feel pride in their people, in their race, and in their accomplishments...and this BOZO is going to put them back to BEFORE Martin Luther King came out in Selma Alabama. This ZERO has destroyed much of the advances that were paid for in blood by blacks in this country: respect as a race honor as a people duty to our nation His monstrous boo-boos, and focus on communist goals have overshadowed the calls for equality, for justice, and for any other honors. He has: Made affirmative action a laughing stock Made blacks look like idiots Made blacks look like commies always looking for a handout Made those blacks with post graduate degrees look like fools Fastened in the minds of whites and hispanics that blacks only honor other blacks Established in fact the perception that blacks have never met a dollar they could keep in their pocket Firmed up the belief that blacks cannot understand or handle money, and must spend it faster than they make it - and with this one ... on a gigantic scale ---- Blacks must be cowering in their homes praying for the birth certificate to show up so they can get rid of this "idiot" before every black in America is forever besmirched with the legacy of this abomination. ---- I would not want to be a member of the black race today, because my face would not be black, but red with shame for putting this abomination into the white house. Let's pray they see the error of their ways by the next election and flush this piece of XXXX with the rest of the DC feces. Goldi-Lox posted on 2010-03-11 10:35:13 ET
****SPEW****
Day 18 of Packrat refusing to register here. Day 16 of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
(chuckle) Sally's not the sharpest knife in the drawer, we all know that. Blacks didn't elect Owe-bama.
my anti groupie can't get through life without me.
Typical stupid statement from you, Boof. If Blacks split their vote along same demographic lines as whites and here and the numerous other boards that you claim to contribute to and where you're blaming Obama you'd be holding McCain blameless right now as he won the election by about 1MM votes...
Day 18 of Packrat refusing to register here. Day 16 of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
But you are advocating rehiring the people that fucked up even worse. Explain that one, because I sure can't. Unless I join you in being gullible enough to believe "it will be different "this" time".
Being a Republican means you get to choose your own reality.
John Boehner and Erik Cantor both voted FOR medicare part D, the largest unfunded expansion of social welfare in a generation. They are the current GOP house leadership. Mitch McConnell, John Kyl and Lamar Alexander were among many GOP Senators who voted for the same bill in the Senate. McConnell leads the GOP in the Senate. All of these same clowns voted for hundreds of billions of dollars for a war that was never paid for, and for tax cuts that were never offset by spending cuts. You are living in a freaking fantasy land Badeye.
Being a Republican means you get to choose your own reality.
Boofer doesn't do explanations but promoting Romney for the nomination certainly explains a lot.
Day 18 of Packrat refusing to register here. Day 16 of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
Show where I've advocated anyone. The current crop is killing the economy, corrupt as the day is long. Your response seems to be 'rehire'....cause they are democrats. Thats simply insane, it would only encourage this behavior among our political employees, on BOTH SIDES. As for 'the people that fucked up worse' the data simply doesn't support this. Any measure you cite between 94 and 06 compared to whats happened since January of 07 when Dems regained the majority in the House shows this. Finally...last time cause its getting old...those that ran the GOP up until 2006 are no longer in elective office, let alone positions where they would replace Pelosi, or Hoyer, or the vast majority of Chairmanships in the House. You want to reinforce the policies and practices, even though its clear the voters don't. Just because they have a D behind their name. That kind of thinking is whats led to the coming political 'perfect storm' come November.
my anti groupie can't get through life without me.
Stop moving the bar, GO65. They weren't in leadership positions prior to Pelosi and company taking over. At least we agree Medicaid is a failed Federal Program....(laughing) And you want to nationalize healthcare after this admission, huh? Got ya...lol
my anti groupie can't get through life without me.
They are in leadership positions now, and the VOTED for the massive, unfunded expansion of government that you say you oppose.
Being a Republican means you get to choose your own reality.
I'd like to bring the Costa Rican system here to the U.S., which Rush Limbaugh seems to think is pretty darn good.
Being a Republican means you get to choose your own reality.
Truth, as usual with the Boofer, is fluid: McConnell was first elected as Majority Whip in the 108th Congress and unanimously re-elected by Republicans in the Senate on November 17, 2004. Boehner was elected by his colleagues to serve as House Majority Leader on February 2, 2006, after one of the most open and public House leadership races in American political history. Kyl has been elected by his fellow Senate Republicans to a succession of leadership posts: Policy Committee chairman (2003–2007),
Day 18 of Packrat refusing to register here. Day 16 of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
As I noted, we agree about Medicaid, and its ironic you want to nationalize healthcare anyway. So, if you can cite one or two votes and make that a valid reason not to vote to fire your beloved Democrats that have produced record deficits, higher taxes for less services, and allowed the economy to implode, what is it you think should be done?
my anti groupie can't get through life without me.
Don't go juvenile again.
my anti groupie can't get through life without me.
It should be noted that those who came in second, e.g. Lamar Alexander, are still in as well...
Day 18 of Packrat refusing to register here. Day 16 of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
Translated: I haven't figured out yet NO ONE not even you takes me seriously...
Day 18 of Packrat refusing to register here. Day 16 of Boofer The One Eyed Wonder Bot refusing to answer: When is Blackwell going to have the recount? Jan 30, 2006 ... by saveliberty (Proud to be Head Snowflake, Bushbot...
Boehner was elected by his colleagues to serve as House Majority Leader on February 2, 2006, after one of the most open and public House leadership races in American political history. Kyl has been elected by his fellow Senate Republicans to a succession of leadership posts: Policy Committee chairman (2003–2007), See my tagline:
Being a Republican means you get to choose your own reality.
Hastert is gone. Delay is gone. Army is gone. Boehner gained that position as an act of making peace with the fiscal conservatives, and it didn't work. Hastert and Delay in particular hated him cause he was 'earmark immune'. You want to keep the idiots in power that have at a minimum doubled the deficit just because they have a 'D' after their name. Its shallow as hell. But no matter, the House will change hands this November with or without you.
my anti groupie can't get through life without me.
btw, see MY tagline....rotfl. Another thread that proves its veracity.
my anti groupie can't get through life without me.
Comments (41 - 42) not displayed.
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#2. To: war (#0)
#3. To: dont eat that (#2)
#4. To: war (#3)
There is very little value added in seeing your posts, puddin'.
#5. To: mininggold (#4)
(Edited)
#6. To: Boofer (#5)
#7. To: war (#5)
#8. To: Abu el Banat, Boofer (#7)
#9. To: war (#8)
#10. To: Abu el Banat (#9)
(Edited)
#11. To: war (#5)
...you can call Obama a nigger...
#12. To: Abu el Banat (#9)
(Edited)
#13. To: dont eat that (#11)
#14. To: war (#5)
That will always be the irony of my banning...you can call Obama a nigger but you can't call packrat a pervert.
#15. To: Bartcoprules (#14)
#16. To: Bartcoprules (#14)
#17. To: Boofer (#16)
His banning was inevitable.
#18. To: Badeye (#13)
The Owe-Bama/Pelosi/Reid deficits are historically all time highs, as are the foreclosures on their watch. The liberals like my laughable anti groupie, GO65, and others can pretend otherwise, but the fact is a polical 'perfect storm' is about to break upon them all come November.
#19. To: go65 (#18)
(Edited)
I still don't see how we're suddenly going to get the budget deficit under control by restoring to power the folks that destroyed the budget in the first place.
#20. To: go65 (#18)
#21. To: Bartcoprules (#14)
I'll wager a double order of wings
#22. To: Bartcoprules (#14)
Yep.
#23. To: Fred Mertz (#22)
#24. To: Fred Mertz (#22)
#25. To: Boofer (#24)
(Edited)
#26. To: Badeye (#20)
You don't continue to employ people that fuck up, GO65.
#27. To: Badeye (#20)
The fact that the leadership of the GOP, in particular in the House of Reps, was FIRED constantly seems to escape you as the above indicates.
#28. To: go65 (#26)
Explain that one, because I sure can't.
#29. To: go65 (#26)
#30. To: go65 (#27)
#31. To: Badeye (#30)
They weren't in leadership positions prior to Pelosi and company taking over. At least we agree Medicaid is a failed Federal Program....(laughing)
#32. To: Badeye (#30)
And you want to nationalize healthcare after this admission, huh?
#33. To: go65, Boofer (#31)
(Edited)
Finally...last time cause its getting old...those that ran the GOP up until 2006 are no longer in elective office, let alone positions where they would replace Pelosi, or Hoyer, or the vast majority of Chairmanships in the House.
They weren't in leadership positions prior to Pelosi and company taking over.
#34. To: go65 (#31)
They are in leadership positions now, and the VOTED for the massive, unfunded expansion of government that you say you oppose.
#35. To: go65 (#32)
#36. To: Boofer, go65 (#35)
(Edited)
#37. To: Badeye (#35)
(Edited)
Don't go juvenile again.
#38. To: war, badeye (#33)
McConnell was first elected as Majority Whip in the 108th Congress and unanimously re-elected by Republicans in the Senate on November 17, 2004.
#39. To: go65 (#38)
#40. To: go65 (#38)
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