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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (89084)	8/11/2010 7:46:55 PM
From: FJB	Respond to of 224729

AUGUST 11, 2010, 2:54 P.M. ET.Deficit in July Totals $165.04 Billion By JEFF BATER And DARRELL A. HUGHES online.wsj.com The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans. Federal spending eclipsed revenue for the 22nd straight time, the Treasury Department said Wednesday. The $165.04 billion deficit, while a bit smaller than the $169.5 billion shortfall expected by economists polled by Dow Jones Newswires, was the second highest for the month on record. The highest was $180.68 billion in July 2009. The government usually runs a deficit during July, which is the 10th month of the fiscal year. So far in fiscal 2010, the government spent $1.169 trillion more than it made. That figure is about $98 billion lower than during the comparable period a year earlier. For all of fiscal 2009, the U.S. ran a record $1.42 trillion deficit. Fiscal 2010 might run a little higher—the Obama administration sees $1.47 trillion. Wednesday's monthly Treasury statement said U.S. government revenues in July totaled $155.55 billion, compared with $151.48 billion in July 2009. Spending was higher, totaling $320.59 billion. July 2009 spending amounted to $332.16 billion. Year-to-date revenues were $1.75 trillion, compared with $1.74 trillion in the first 10 months of fiscal 2009. Spending so far in this fiscal year is $2.92 trillion, versus $3.01 trillion in the prior period. Spending for benefits for the unemployed year to date totaled $121.4 billion; for July, the tab was $9.8 billion, the Treasury statement said. Years of deficit spending by Washington have led to a mounting national debt. Interest payments so far in fiscal 2010 amount to $185.25 billion; by contrast, corporate taxes collected by the government during the same 10 months were $139.71 billion. Interest payments in July alone were $19.9 billion.

To: Kenneth E. Phillipps who wrote (89084)	8/12/2010 5:09:37 AM
From: tonto	1 Recommendation Respond to of 224729

Correct. The deficit is horrendous and not enough attention nor good decisions are being made.

To: Kenneth E. Phillipps who wrote (89084)	8/12/2010 8:28:31 AM
From: JakeStraw	2 Recommendations Respond to of 224729

To: Kenneth E. Phillipps who wrote (89084)	8/12/2010 9:20:32 AM
From: JakeStraw	1 Recommendation Respond to of 224729

President Obama claims that the economy is getting better. This administration's ineptness at promoting growth is equaled by its ineptness at spinning facts. The Obama administration also touts that the stimulus passed in February of 2009 created or saved 3.5 million jobs. Of course, the president has chosen a standard of measure that is not and has not been tracked before. Mr. Obama boasted, "The stimulus bill prevented the unemployment rate from getting up to ... 15%." Of course, not seeing 15% unemployment (unless you consider the underemployed in the U.S.) does not mean that the stimulus worked. The president could have also stated that passing the stimulus bill would prevent asteroids from destroying the earth. Just because the earth has survived does not mean that this result was due to the stimulus. americanthinker.com