Check out usdebtclock.org
Not for the faint of heart.
Not for the faint of heart.
US Debt
- Thread starter U81I812
- Start date
M
MPS
Well-known member
August 10, 2009
Yeeha! Deficit up $181 Billion ... in ONE Month
Larrey Anderson
Yeeha! Ride ‘em cowboys! The federal budget continues to stampede out of control and the mainstream media continues to ignore it. Here is how Walter Alarkon writing for The Hill reported the Democrat’s spending spree:
Bailouts for financial firms and billions in tax revenue lost because of the recession drove the deficit to a record $1.3 trillion in July, according to the independent Congressional Budget Office (CBO).
Tax receipts that have fallen due to the poor economy and increased spending to save car companies, banks and mortgage firms were major contributors to the federal deficit, according to CBO, which provides official budget numbers for Congress. The federal deficit grew by another $181 billion in July.
[snip]
Spending through July of 2009 has increased by $530 billion, which is 21 percent over the same period in 2008. The bailout money for Freddie Mac and Fannie Mae accounted for almost half of the spending increase. Unemployment benefits have more than doubled, Medicaid spending has grown by a quarter and Medicare spending has increased by 11 percent.
Tax revenue for the first three quarters of 2009 has fallen by approximately $350 billion, or 17 percent compared to the same period last year….
The independent budget scorekeeper has projected the deficit to reach $1.8 trillion by the end of the fiscal year, Sept. 30. The deficit in 2008 reached $455 billion, which was a record at the time.
In other words, President Obama and the Democrat controlled congress will have beaten George W. Bush's record budget deficit by four hundred percent. And they told us Bush was a cowboy. Yeeha!
Yeeha! Deficit up $181 Billion ... in ONE Month
Larrey Anderson
Yeeha! Ride ‘em cowboys! The federal budget continues to stampede out of control and the mainstream media continues to ignore it. Here is how Walter Alarkon writing for The Hill reported the Democrat’s spending spree:
Bailouts for financial firms and billions in tax revenue lost because of the recession drove the deficit to a record $1.3 trillion in July, according to the independent Congressional Budget Office (CBO).
Tax receipts that have fallen due to the poor economy and increased spending to save car companies, banks and mortgage firms were major contributors to the federal deficit, according to CBO, which provides official budget numbers for Congress. The federal deficit grew by another $181 billion in July.
[snip]
Spending through July of 2009 has increased by $530 billion, which is 21 percent over the same period in 2008. The bailout money for Freddie Mac and Fannie Mae accounted for almost half of the spending increase. Unemployment benefits have more than doubled, Medicaid spending has grown by a quarter and Medicare spending has increased by 11 percent.
Tax revenue for the first three quarters of 2009 has fallen by approximately $350 billion, or 17 percent compared to the same period last year….
The independent budget scorekeeper has projected the deficit to reach $1.8 trillion by the end of the fiscal year, Sept. 30. The deficit in 2008 reached $455 billion, which was a record at the time.
In other words, President Obama and the Democrat controlled congress will have beaten George W. Bush's record budget deficit by four hundred percent. And they told us Bush was a cowboy. Yeeha!
where does that stimulus package come in at lol
No kidding. here is another little chunk of information to get you to think:
The national debt is around $11.6 Trillion
The Interest Payment due this year on this debt is $451 Billion
The estimated net tax reciepts to the goverment this year is a little over $2 Trillion.
So, about 22% of alll of our taxes are needed just to pay the interest on the national debt (mind, that percentage does not include the "principal" part of that payment, just the interest).
S
shortstop20
Well-known member
There are actually reports that say all federal income taxes are spent on interest before one cent can be applied to reduce the national debt.
We never had an income tax until 1913, for those that didn't know.
We never had an income tax until 1913, for those that didn't know.
S
shortstop20
Well-known member
There are actually reports that say all federal income taxes are spent on interest before one cent can be applied to reduce the national debt.
We never had an income tax until 1913, for those that didn't know and we did just fine. Since we've implemented this income tax to "pay for this stuff", our debt has went nowhere but up basically, pretty sad isn't it?
That's exhibit 1,820,382,309 showing how politicians will spend any and all money they can get their hands on. Politicians have been promising to reduce the national debt for years, and they were all full of BS.
We never had an income tax until 1913, for those that didn't know and we did just fine. Since we've implemented this income tax to "pay for this stuff", our debt has went nowhere but up basically, pretty sad isn't it?
That's exhibit 1,820,382,309 showing how politicians will spend any and all money they can get their hands on. Politicians have been promising to reduce the national debt for years, and they were all full of BS.
Last edited:
