Obama’s October Deficit Is Larger Than the Deficit in the Entire Year of the Last Republican Budget
The last all Republic Budget was the fiscal year 2007 budget. That means it was passed by a Republican Congress And Signed by a Republican President. The deficit that year was 160 Billion dollars.
Remember how the Democrats like Kent Conrad decried that figure. He said it was so bad that he needed to be put in charge of the US budget. Well the political gods have a sick sense of humor and did just that.
Now the 100% Democrat October deficit is 10% larger than what it took all year to accumulate in FY 2007.
WASHINGTON — The federal government kicked off fiscal year 2010 by posting its widest-ever October budget deficit, the Treasury Department said Thursday.
The $176.36 billion gap is more than $20 billion wider than the shortfall recorded in October 2008, driven up by lower tax receipts, stimulus-related revenue reductions and consistently high government outlays.
Treasury’s monthly budget statement shows receipts were $135.33 billion in October, down 18% from a year earlier and at the lowest level since October 2002. Meanwhile, outlays were $311.69 billion, down 3% from a year earlier and at their second-highest monthly level on record.
And still the Democrats continue on making things worse in their desperate attempt to wreck everything they haven’t yet wrecked. The Democrats are still trying to jam health care reform and the tax cap and trade job killer through. Today’s Democrats are going down as the worst government in US history.
Meanwhile they’ve managed to raise unemployment over 12% (or over 16% depending which figure you use).
