The federal government started out its new budget year with a slightly higher deficit than last year as revenues and spending for October both set records.Ok, so do they really mean to say that the Deficit is larger than last year????
The Treasury Department reported that the deficit for October totaled $49.3 billion, up 4.3 percent from the $47.3 billion imbalance recorded a year ago.
The budget deficit for the 2006 budget year, which ended on Sept. 30, dropped to a four-year low of $248.2 billion. However, the deficit for the current 2007 budget year is expected to resume rising.
For October, the $49.3 billion deficit was below the all-time October high of $70 billion set in 2003. The government has run a deficit every year in October going back to 1954.
Revenues for October were up 12.2 percent from last year to a record $167.7 billion, surpassing the old October record of $157 billion set in 2001.
Spending for October was up 10.3 percent from a year ago to a record for October of $217 billion.
[ cf Oct. budget deficit higher than last yr. ]
Or did they mean to say that the Deficit is still rising, and will keep on rising as long as there is a way to keep it rising, because, well, gosh, this is a time of Transferring The Tax Liability Unto The Unborn, because those Liberals Failed To Support the President....
Oh well, maybe some day we can elect a Fiscally CONSERVATIVE REPULBICAN GOVERNMENT that is concerned about Fiscal Responsiblity, rather than the desperate emotional urges and needs of those who wanted to be great war heroes the last time around, but were having a bad hair day!!!!
All Hail Great Leader!!! Since he knows that TrueCronyCapitalism has never really been tried, so it is not like it has actually failed.