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The Spectacle Blog
The federal deficit reached nearly $1.3 trillion in fiscal year 2010, according to an estimate the Congressional Budget Office released Thursday afternoon.
The shortfall for the fiscal year ended Sept. 30 was $125 billon smaller than a year ago, making it the second highest ever recorded since World War II (2009 being the highest).
Despite the extrardinary deficit, it was actually $50 billion lower than the CBO had forecast in August, due to higher than expected tax revenue, and lower outlays for TARP, Fannie and Freddie, and federal deposit insurance. Other spending actually rose by 9 percent in 2010.
More details here.
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More Blog Posts by Philip Klein
http://spectator.org/blog/2010/10/07/cbo-2010-deficit-reached-nearl
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Tim*| 10.7.10 @ 6:11PM
Limbaugh's Right .
Obama Is A Jackassian President .
The Tea Party Rebellion Escalates .
Kick The Jackass .
Tim*| 10.7.10 @ 6:33PM
The Economic Jackassian Presidency .
"Unemployment, as measured by Gallup without seasonal adjustment, increased to 10.1% in September -- up sharply from 9.3% in August and 8.9% in July. Much of this increase came during the second half of the month -- the unemployment rate was 9.4% in mid-September -- and therefore is unlikely to be picked up in the government's unemployment report on Friday."
The Tea Party Rebellion Escalates .
Rise Up !
ds80| 10.7.10 @ 7:44PM
After the midterm bloodbath has occurred, I wonder how many Democrat seats Obama will say he "saved".