Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Archie Meeties who wrote (147980)	3/23/2011 6:27:18 AM
From: Bearcatbob	6 Recommendations Read Replies (3) \| Respond to of 206191

Arch, FY 2010's deficit was less than FY 2009"s. However FY 2011 will set a new record. Arguing about the details of the difference between $1.4T or $1.6T is ludicrous. For the foreseeable future the numbers are north of $T. I do agree though that for the last month spending is being cut - so yes - currently revenues are increasing faster than spending. Please give my your vision of how this ends? cnsnews.com February Federal Budget Deficit Sets Record Tuesday, March 15, 2011 By Martin Crutsinger, Associated Press Washington (AP) - The federal government's budget deficit grew by $222.5 billion in February, the largest one-month increase in history. Economists are forecasting the deficit for the year will be the biggest imbalance on record. The Treasury Department says the February deficit surpassed the old record for any month, a $220.9 billion imbalance set in February 2010. Through the first five months of this budget year, which began Oct. 1, the deficit totals $641.3 billion, 1.6 percent below the pace set last year. However, economists are predicting the deficit for this year will exceed last year's imbalance. The Congressional Budget Office is forecasting a $1.5 trillion gap, giving the country a third straight year of $1 trillion-plus deficits. The swollen deficits reflect the impact of a severe recession on government revenues and efforts to jump-start growth with stimulus spending and stabilize the financial system with large bailouts. President Barack Obama, when he sent Congress his new budget request last month, forecast a deficit of $1.56 trillion for this year. The current deficit record holder is a $1.41 trillion deficit in 2009. In 2010, the deficit remained above $1 trillion at $1.29 trillion.....................