The federal government ran a $777 billion deficit for the first six months of fiscal year 2012, the Congressional Budget Office estimated on Friday, including a $196 billion hole in March, marking the 40th straight month of deficits.
Wrong About Obamacare Wrong About This Too?
- George Carlin On Obama’s Willful Subterfuge: Obamacare Costs Twice As Much As CBO First Calculated, Its Now $1.76 Trillion!
That streak goes back to the financial collapse under Democrat Controlled Congress during President George W. Bush, and means the government has never run a surplus in any month during President Obama’s tenure. The longest previous deficit streak on record was 11 months.
At $777 billion, this year’s deficit is an improvement compared to 2011 at this point, with tax revenues rising $46 billion and spending falling by $7 billion — due in part to the expiration of some stimulus programs in education and Medicaid.
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- America is Going Broke; Does Anyone Care? (economicnoise.com)
- CBO Contradicts Obama Over Obama’s 2013 Budget…Budget Does Not Cut Deficit…Adds $3.5 Trillion to It (gds44.wordpress.com)
- CBO Issues Higher Deficit Projection for Obama Budget (blogs.wsj.com)