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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (100536)2/25/2011 9:17:19 AM
From: JakeStraw1 Recommendation   of 224763
 
According to revised numbers released last week, the Obama administration expects its annual income (or revenues) for fiscal 2011 to come in at $2.173 trillion, versus annual expenditures of $3.818 trillion. That leaves a deficit of $1.645 trillion. As a result, our government will have to borrow (or find other ways to paper over) 43 cents out of every dollar that it intends to spend.

The Obama administration has more than tripled the national deficit since the last full year of the Bush administration. In doing so, it has achieved a remarkable feat. It has made the gap between federal receipts and outlays even wider than it was at the height of World War II.
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