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Federal Government In Red For 39th Straight Month

January 11, 2012 by  

Federal Government In Red For 39th Straight Month

The Federal government ran a deficit in December, the 39th straight month in the red, according to preliminary reports from the Congressional Budget Office.

The Washington Times reported that the streak dates back to the last days of former President George W. Bush and encompasses the entirety of President Barack Obama’s tenure.

According to the newspaper, not only is the government acquiring more debt each month, but the deficit of $84 billion in December was slightly higher than the number for that month in 2010. Payments to housing finance giants Freddie Mac and Fannie Mae accounted for much of the growth in spending.

Corporate income tax receipts were up, the Times reported, while payroll tax receipts were down due to the tax cut Congress and Obama agreed to a year ago.

USA Today reported that the U.S. national debt recently reached a symbolic tipping point, as it is now as big at the entire American economy.

“The 100 percent mark means that your entire debt is as big as everything you’re producing in your country,” Steve Bell of the Bipartisan Policy Center told the newspaper. “Clearly, that can’t continue.”

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  • s c

    WHAT do we have to DO to get that George Bush OUT of the White House? My sources tell me that if we can get the kid from Illinois to replace GB, things will turn around fast, and we can put GB ‘in his place’ real quick.
    Once we substitute compassion and hope and change for GB’s mean-spirited nastiness, we can start to give America’s wealth to those who deserve it. Can’t the government afford to hire someone to search the White House so GB will have to go somewhere else? I never knew it could be so hard to get rid of someone. It’s just NOT right.

    • Joe H.

      SC,
      i hope eddie notices that the article says it extends to the LAST days of the Bush term and the WHOLE of Adumber’s Looks like Adumber owns at least a LITTLE of this debt, right?? According to eddie and Karolyn, as well as a few more, it’s all bBushes!! I damn well don’t like Bush but I don’t like Adumber getting off scott free!!

      • s c

        Joe H, when dealing with utopians, it’s best to remember that if their programming was done via a first-rate programmer, it’s all but impossible to get ‘certain’ people to understand or believe basic things. When a political-social-economic set of beliefs like utopianism has infected someone long enough, ideas like ’1 + 1′ or ‘the sun comes up in the east’ or ‘the opposite of right is left’ is too complex for them.
        They can’t separate ‘Republicans’ from conservatives. They can’t or won’t practice what they preach. They feel – they rarely think. Their pretender, W H hoohaw leads them around like a rabbit in heat on a long leash (I said rabbit because I don’t want to insult sheep).
        I’m guessing, but I believe that if their families knew what they’re doing to America, they’d get disowned or encouraged to move to another country.
        You can feel sorry for them for only so long, and then it’s worse than trying to drive nails into wood with a toy hammer. It just isn’t worth the effort, Joe H.

  • Warrior

    Where’s that guy that threw the shoes at Bush’s head. If the guy ran out of shoes, I will donate more!

  • Lastmanstanding

    They do what their told…to steal everything that you have worked for… when they are done with you…who is next?

    Take a moment or a week and think about that…if you can’t figure it out…they have succeeded…

    and you will do what you told…or else.

  • Randy131

    How much longer can this go on, and how high can the national debt go before it becomes unserveable and destroys the US Dollar, our economy, and the nation? Obama has put us into a financial ‘Downward Spiral’, which if his policies are not reversed very soon, will become the demise of us all.

  • Cheryl Lynn

    Any one who thinks voting in a democrat is an improvement does not understand the tax and spend liberal platform of the Democratic Party. That is what they do tax and spend. We need to get back to fiscal responsibility, stop spending foolishly such as high speed rail, health care for all, section 8 housing, free higher education for illegals, and all those departments that waste tax payer dollars. I could go on but you get the idea. Oh ya quit blaming Bush it was the Democrats who were in charge of the House and Senate the last two years of his term.

    • Laurie Tudor

      I beleave that it is the fault of both parties “really one party”, that we have this cumbersom out of control govt. perhaps we could link taxes to what they actually wast, then we could have the revolution that we are long overdue for.

    • ChristyK

      Most Repbulicans vote to tax & spend as well. They might spend on something different, but they still tax & spend. I doubt even 5% of Congress doesn’t completely fit in the tax & spend category.

  • http://jackfs816@gmail.com jack sneed

    AND WHY ARE WE SURPRISED AT SUCH NEWS…..THE idiot we have in the White House, that calls himself the President has not presented a budget the entire time he has been in office. If he runs his personal household the same way, I don’t see why his wife and kids stay with him….but again, his wife is as power hungry as Obama is, and maybe more so.

    Why don’t all us citizens start running our households like the country runs its household…..lets all sty in teh RED for 39 months, especially on April 15th (well the 17th this year). If we all fail to pay our income taxes this year, would that get the country’s attention. And we could all say, “well, we were just running our household the way our leaders are running theirs.” “Aren’t we supposed to “follow our leaders???” Or, “don’t you, Mr. Prez, want all your enslaved citizens to do as you do….operate with NO BUDGET!”

    I have heard of some dumbasses in my day, but I have never seen a President try to operate with NO BUDGET! How can the man keep his job acting the way he does. He lies constantly, he is on vacation at some of the most critical times for the country, he plays golf when the deficit ceiling is being discussed, and he takes credit for anything he can think of, and then he loves to call all his citzens “lazy.” Boy, I really love to follow such leadership…..my Dad would whip my butt if he caught me following such a person…..let alone a person that calls himself my leader!!!

    Am I fed up with Obummer…..that is the biggest understatement I can think of!

    • Joe H.

      jack sneed,
      i saw on Fox Business today that in an interview, she said that people look at her as an ANGRY Black Woman!!! For once, I agree with her. When she looked square at the camera and said’ For the first time in my life, I am proud of my country!” , then I KNEW that she was an Angry Black Woman!!!

  • cawmun cents

    “The Red and Black,its their color scheme.”-Eric Bloom

  • No fool

    A great accomplishment for Obama. This was part of his plan to ruin the USA.

  • Gringo Infidel

    Only 39 months? That IS shocking.

  • pasoman

    Why isn’t anyone looking at the “unfunded” debt debacle, If $15+ trillies is mindboggling, how about $60+ triliies more messy “unfundies”. It’s time to come clean – not nice to rip off 312 million, especially when the officers are supposedly protecting instead of pilfering. Follow thy money to the tree with the honey…

  • don m

    All of our officials tell us the debt is caused by “entitlements” such as Social Social Security – Medicare (SSIM)! Got to cut it??? If you pay for something, aren’t you entitled to it, or is it communal property now? It isn’t welefare!

    An average salary of $40K @15.3% SSIM pays $510/mo for a total of $581,520 over 46 years (18/65bday) If it earned a measly 5%, that steam of 552 payments of $510 would have a future value of $1,092,353 upon retirement ($1,288,812 if retirement is age 78!) If it’s retire at 68 & roll over at 78… a 10 yr annuity would pay $18,216/mo. Run an annuity calculation on what you are paying SSI-M – it’ll blow your mind… none is going into a “trust fund!”

    How much should be in a trust fund that grossly overfunded by citizens? If they’re using current worker deposits & borrowing money to pay benefits (yep!), the funds (trillions with zeros) have been looted!

    If someone says you didn’t pay enough way back in 1965, remind them the Apr. 2011 cpi index 224.91 was only 31.5 way back then, and a $5,602 salary would buy the same thing $40,000 buys today.

    It needs “fixin’” & that begins with truth and should end with consequences. The money trail is a mile wide & easy to follow, if you’re not afraid of the big bad wolves & slime buckets who hate capitalism… ROI!!!!

    We need a brand new House and Senate that will stop the invasion and looting of the USA – people who will prosecute!

  • don m

    hey there – the $581,520 is really 281,520 – a typogotcha sorry bout that

  • don m

    full ‘o typogotchas -the $18,216/mo should be $13,670 @ 10 yr
    - if you promise to kick the bucket at 75 (7yr) you’d get the $18,216
    –The $1,092,353 is $1,092,620…
    obammer been in the komputer

    • Joe H.

      don m,
      Now THERE’S a virus!!!

  • Earl, QUEENS, NY

    Let’s see. For 27 of the past 39 months, the democraps controlled the House. For almost 36 months, the White House has been controlled by a (socialist) democrap. For all of the past 39 months, the US Senate has been controlled by Democraps. These are just things to consider if you want to blame Bush and the GOP, as Obama childishly and irresponsibly does in his (teleprompter) speeches. To the contrary, about six years ago the GOP had control of both chambers of Congress and the White House. Deficits were only a fraction of what they’ve been the past 39 months, and the unemployment rate was about half of what it’s been the past 39 months. Again let’s consider the failed $800+ billion stimulus/porkulus bill signed by BHO some 3 years ago. Eliminating porkulus from future baselines alone would cut annual FY deficits in half. Remember that all GOP House members, and all GOP Senators (except 3 RINOs) voted against porkulus. But because they were in the minority, they didn’t have the seats/votes to stop it. ….. Just think about this before lashing out at the GOP. Don’t blame Bush. Blame the American voters who made foolish mistakes in 2006 and 2008. Despite our frustrations with RINOs and weak GOP moderates, a large % of voters are oblivious to the fact that elections have consequences, and electing democraps only makes bad situations worse.

  • James

    Just recently, President Obama informed Congress that they have to extend the national debt another $1.2 Trillion to avoid defaulting. That is, if Congress does not borrow $1.2 Trillion, that amount will have to be reduced from federal spending.

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