(H/T – Darleen Click)
Reuters reported on Friday that the monthly federal deficits of $176.4 billion in October (official) and $115 billion in November (CBO estimate) mean that the start of the 2010 federal fiscal year is even worse than the record-deficit-shattering 2009 fiscal year. As Darleen pointed out, that is an annualized deficit of $1.752 trillion.
That is mostly before the effects of items like expanding the homebuyer tax credit to existing homeowners (because the first-time-only version wasn’t loaded with enough fraud, I suppose) or PlaceboCare, or cap-and-tax, or…..
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all the deficit was inherited so it’s not real debt!
From LBJ?
I hear the Robert Mugabe’s finance minister is meeting with the Obama Administration next week. Should we be worried?
Oh yell yeah be worried. Be afraid, even.