Just as the states and counties are seeing tax receipts crater, the Federal government is seeing a shortfall in income, just as Congress and the White House gleefully ramp up spending in preparation for the European-style welfare state envisioned for us all.
From Reuters, yesterday.
The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.
It was more than twice the $40-billion deficit that Wall Street economists surveyed by Reuters had forecast and was striking since April marks the filing deadline for individual income taxes that are the main source of government revenue.
Department officials said that in prior years, there was a surplus during April in 43 out of the past 56 years.
The government has now posted 19 consecutive monthly budget deficits, the longest string of shortfalls on record.
Charmingly, at the very bottom of the article, is this quote:
White House budget director Peter Orszag told Reuters Insider in an interview on Wednesday that the United States must tackle its deficits quickly to avoid the kind of debt crisis that hit Greece.
Hey-thar', Mister Orzag! Don't tell us! We're already aware of the situation.
Tell your !!!****!!! boss!
1 comment:
relax
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