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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Slumdog who wrote (204142)	5/25/2009 7:24:31 PM
From: Slumdog	Read Replies (1) \| Respond to of 306849

Nothing Left But The Rosy Scenario....... On May 12th, the U.S. Treasury reported an official April budget deficit of 20.9 Billion. This was the first April deficit for 26 years - since 1983. The significance of a deficit in April is, of course, the fact that April is "tax month" in the U.S. Since 1955, April 15 has been the last day in which income tax returns can be sent to the federal and state governments without incurring a "late penalty". While the official deficit for April was $US 20.9 Billion, the funded debt of the US Treasury in April rose by $US 112 Billion. With two thirds of fiscal 2008-09 (which started on October 1, 2008)now over, income tax revenues for the year to date are down 31 percent while the corporate income tax take has slumped a massive 58 percent. In April alone, on a year on year comparison, income tax receipts fell 44 percent while corporate income taxes fell 64 percent. As you can see, despite all the famous talk about the economy sending up "green shoots" the trend is worsening. The longer they leave it, the worse the situation will get. The US treasury's official figures for April 2009 show how bad they have ALREADY become. In the first seven months of the current fiscal year(October through April), the official federal deficit came in at $US 802.3 Billion. The official figure for the same period a year earlier is 153.5 Billion. The year on year increase is 423 percent! Over the same period in fiscal 2009, the $US federal government borrowed $US 1,120 Billion. The official figure for the same period a year earlier was $US 201.2 Billion. The year on year increase is 457 percent! the-privateer.com