$94.32 Billion June Federal Budget Deficit Sets New Record
And here you thought Barack Obama wasn’t going to achieve impressive things.
WASHINGTON, July 13 (Reuters) - The U.S. government rang up a $94.32 billion budget deficit in June, a record for the month, as the price tag for efforts to prop up the economy, banks and automakers mounted and revenues weakened.
The Treasury Department said on Monday that June marked the ninth straight month in which the government had run a deficit. ...
Through the first nine months of fiscal 2009, the government has racked up a $1.086 trillion deficit. That compares with a shortfall of only $285.85 billion in the comparable year-ago period, underscoring the sharp deterioration in the U.S. fiscal picture.
Don’t worry folks. This isn’t the worth monthly deficit this country has ever seen. That, uh, happened back in February.
The record budget deficit for June was not an all time high, which was $194 billion in February, the department said.
So what are our political leaders doing about this? Well, they’re talking about more “stimulus” spending. They’re talking about a new government health care program that will cost (according to them) about $1 trillion (and a lot more, more than likely). And they’re talking about a national tax on carbon emissions that will depress economic activity.
In short, they’re looking at all the ways they could make this worse.
