Posts tagged as:

trillion dollar deficit

Deficit for FY-2010 Clocks in at $430.69 Billion

February 17, 2010

The Federal Deficit has clocked in at $430.69 billion through the first four months of FY-2010 (the federal fiscal year starts in October).  If the deficit continues on this pace, it will clock in at $1.29 trillion, although it is expected to clock in even higher at $1.59 trillion (I guess the government is going [...]

Read the full article →

FY-2010 Deficit Skyrockets

December 8, 2009

Fiscal Year 2009 saw unprecedented spending and unprecedented deficits as a result of the Troubled Asset Relief Program (TARP) and Obama’s Stimulus bill.  That, along with a bloated Democrat budget, brought the total deficit for FY-2009 to $1.4 trillion (that’s one trillion, four hundred billion dollars).  Divide that up by twelve months, and the average [...]

Read the full article →

The Cost of the Crisis: $23 Trillion

July 21, 2009

The events of the last year have produced a flurry of legislation so complex, and debated and passed so quickly, that most of the citizenry (not to mention the members of congress) have no idea what the government has passed and how much we are spending.  Enter Neil Barofsky.  Barofsky is an economist who also [...]

Read the full article →

American Bankruptcy

February 27, 2009

Sen. Judd Gregg, interviewed on Hannity last night, stated that the United States was headed for bankruptcy: While it may seem alarmist, the deficit has reached record levels this year in dramatic fashion.  There may come a point where other nations of the world do not want to borrow any more U.S. money, and with [...]

Read the full article →

Bad Economic Policy

February 21, 2009

The stock market is down 10% since Obama’s inauguration.  The deficit has just been tripled by the stimulus.  So what is Obama’s plan?  He is proposing to balance the federal budget by raising taxes on both the wealthy and businesses, as well as cut funding to the military in Afganastan and Iraq. All of this [...]

Read the full article →

Deficits Are Wrong Unless a Democrat Is President

January 6, 2009

Democrats love to whine about increased deficits whenever there is a Republican President.  They did it after they broke their promise to Ronald Reagan that they would cut spending during the 1980s.  They did it in the 2000s when George W. Bush spent like a drunken sailor even though they wanted to spend more.  Now [...]

Read the full article →