New York (CNNMoney.com) – The government posted only its third April deficit in the past 30 years, according to data released Wednesday by the Treasury Department.
The $82.7 billion shortfall, the most ever run in the month when Americans file their tax returns, brought the deficit for the first seven months of the fiscal year to $799.7 billion. The year-to-date deficit was down marginally from $802.3 billion in the same period a year earlier.
It was the 19th consecutive monthly deficit and surpassed the $20.9 billion shortfall last April.
obamanomics in action
And this is a surprise? We're spending money faster than we can print it.
Just a great President, huh ?
Get this idiot out of the White House now.......
Sorry Barry.... but this is on you brother..... you inherited some debt....but not this much debt.... you created WAY more....
You know it wouldn't be as bad... except for the massive tax cut...
But apparently people were "taxed too much" this year.
Well obviously it means we are being over taxed but we ain't seen nothin yet.
Unfortunately, the truth was only exposed after Bush left office because if you remember Bush never talked economics just war, fear and terrorism. No GOP member in the Bush administration would speak out because he had informed them all "you're either for me or against me" and they coward down.
Getting out of 2 wars started by Bush, jump starting the economy which Bush trashed and extending unemployment benefits for the victims are not Obama's fault. Funny how the Republicans walk away from THEIR trash and say it's Obama's.
"Sorry Barry.... but this is on you brother..... you inherited some debt....but not this much debt.... you created WAY more...."
The above quote highlights a fundamental problem with trying to talk intelligently about economics and budgets with the GOPers/conservatards.
Hint: There's a difference between the deficit and debt.
It's all over, folks.
Fake Sniffit do you understand sarcasm at all?
It means she wasn't serious.
Claudia, even if the budget was balanced, people would still say that ignorant things.
People want good jobs, free college, free medical care, and all kind of services, but no one wants to pay taxes. It will take spending money to improve the economy.
Hmm. For 24 of the past 30 years, conservatives have controlled the the White House, the Senate, and the House of Representatives, yet . . . gasp . . . the deficit increased year after year. No taxes = no revenue = large deficit. 1950 tax rates just doesn't seem to be very productive for the 21st century, eh conservatives?
Might as well vote the conservative fools back in control so they can finish the damage they started in 2000.
Apparently "change" meant that was all that we would have left after Obamanomics. I'm not sure where the "hope" will come in because any more of Obamanomics will lead us all into despair...
@Sarcastic: "...But apparently people were "taxed too much" this year."
Yeah, people were taxed much this year–and then the idiot government wasted not only the amount by which we're over-taxed, but by most of the amount people would think is a reasonable average tax.
The power to tax is the power to destroy–and Washington is doing a bang-up job of destruction.
@jm for sc: "People want good jobs, free college, free medical care, and all kind of services, but no one wants to pay taxes."
The problem is that the people who want all that free stuff generally aren't the ones being taxed. 47% of the American population pay no federal income tax. It's easy to want stuff other people will be forced to pay for–slimy, totally lacking in integrity, and contemptible, but easy.
Wow this is a real shocker. Obama is in charge and we are racking up record deficits. Everyone needs free healthcare and whatever else he can think of that we can not possibly pay for.
Think about what the left has ever taken over and in the end helped us – nothing. Every massive entitlement program they ever thought up has only created larger deficits and more spending we can't afford. Did you see the new CBO estimates on the Healthcare bill this morning – UGLY. More proof. This is a surprise to no one but some of idiots and their offspring leaving comments on this site.
This was the 19 consecutive month of deficit spending by the US government (the longest streak in history). Obama has been in office for 15 of those months. April's deficit was FOUR TIMES more that last April's deficit. As much as he will try, Obama has nobody to blame but himself for this. Watch for skyrocketing taxes very soon. Thanks Obama!
Deficits don't matter. Ron Reagan.
Deficits don't matter. Dick Cheney.
Deficits are killing America AND our grandchildren. Todays GOP.
Obama sure is a heck of leader. I am sure glad we elected a guy that had never run, produced, or had to sell anything in his life. Clinton was an intellectual too but at least he understood basic priciples that helped our economy. Can't wait to vote out this idiot.
Of course this is ALL the result of the current Administration's policies . . . . you know, from the last year and a half! Has nothing at all to do with the spend, spend, spend that went on for the previous eight years which took us from a SURPLUS to a DEFICIT! Short memory syndrome, Rabid Righties!
The Government has three choices, cut spending, raise taxes or both....But come the 3rd quarter of 2011 this nation will be bankrupt if we do not make radical reductions today!
to all the Bush bashers....yes Bush ran outrageous deficiets...but Obama came in on the promise he would "change" things..he hasn't changed anything at all..this is just more Bush..only worse..where is the change?? wise up