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US Borrows $.46 For Every Dollar Spent

From a nevertheless approving Associated Press:

White House: Budget deficit to top $1.8 trillion

By Andrew Taylor, Associated Press Writer

WASHINGTON – With the economy performing worse than hoped, revised White House figures point to deepening budget deficits, with the government borrowing almost 50 cents for every dollar it spends this year.

The deficit for the current budget year will rise by $89 billion to above $1.8 trillion — about four times the record set just last year. The unprecedented red ink flows from the deep recession, the Wall Street bailout, the cost of President Barack Obama’s economic stimulus bill, as well as a structural imbalance between what the government spends and what it takes in.

As the economy performs worse than expected, the deficit for the 2010 budget year beginning in October will worsen by $87 billion to $1.3 trillion, the White House says. The deterioration reflects lower tax revenues and higher costs for bank failures, unemployment benefits and food stamps.

For the current year, the government would borrow 46 cents for every dollar it takes to run the government under the administration’s plan

Annual deficits would never dip below $500 billion and would total $7.1 trillion over 2010-2019. Even those dismal figures rely on economic projections that are significantly more optimistic — just a 1.2 percent decline in gross domestic product this year and a 3.2 percent growth rate for 2010 — than those forecast by private sector economists and the Congressional Budget Office

No, nobody saw this coming. At least nobody in our watchdog media.

And on top of this insanity Mr. Obama wants to give us ‘free healthcare’?

This article was posted by Steve on Monday, May 11th, 2009. Comments are currently closed.

19 Responses to “US Borrows $.46 For Every Dollar Spent”

  1. Liberals Demise says:

    I hear China will give Obama the same deal he offered the Hedge Funders ……….. 29 cents on the dollar!
    Wonder how he will feel on that one? (commie)

  2. Steve says:

    Mr. Limbaugh is talking about this article as we speak.

  3. proreason says:

    Personalize it.

    If you borrow 1/2 of your total spending (for you, include taxes in total spending), how long could you sustain your lifestyle?

    Think about trying to do that for 1 year.

    Then think about it for decades into the future, because that’s what the Moron proposes.

    But the good news is…….the Moron will probably get us all killed before the looming economic catastrophe does us in.

    • Liberals Demise says:


      The moron will kill us first …….. damn, it’s RB-tini time!!

    • Reality Bytes says:

      Did somebody say RB-Tini!!!?

    • Liberals Demise says:

      I’m pulling out my “End of the World” yard chair set…..might as well sit back, get a buzz and watch Obama kill the spirit of America!

  4. pdsand says:

    Oh relax Steve, the “budget” includes a significant down payment on the free healthcare. In his infinite wisdom Obama has already thought of that.

  5. proreason says:

    “With the economy performing worse than hoped, ”

    Let’s see.

    They can’t predict accurately for 2 months in the future, but they are rock solid sure that their predictions for 10 years in the future (which everybody else believes are wildly optimistic) are correct.

    But hey, look at him bounce outta dat plane. Just look at dose abs. Look at dose arms. Look at dose cute kids and dat cute puppy. We are really really lucky to have dem in charge.


    • Rusty Shackleford says:

      Like I said before, these wizards couldn’t predict five o’clock at four-thirty.

  6. Trialdog says:

    Time for Republicans to do something smart. I think the best way for Republicans to try to save our country is to unify on a healthcare message. Quite simply, Republicans say they are wholly behind whatever idiotic plan Obama and the Democrats forward under one condition. Once we see the success of Obama’s policies to date, we’ll all vote for the healthcare plan. As soon as the budget deficits drop below Bush era levels, as soon as unemployment drops below Bush era levels, as soon as everyone earning $250K and less get their taxes (rates and hidden) lowered, and as soon as our imports of foreign oil are reduced to pre-Bush era levels, we’ll go all in. Until we start seeing the fruits of Obama policies, how can we expect Obama plans on healthcare will succeed?

  7. Right of the People says:

    Notice how after getting a lot of flack over Crap and Trade, suddenly we don’t hear about that but now instead Barry is pushing the heathcare thing as the latest and greatest crisis?. As soon as enough people (shudder, maybe, just maybe even the Conservative minority in Congress but that might be too much to hope for) get up their backs over this, what do you want to bet Crap and Trade come back to the forefront. It will keep see-sawing back and forth until Piglosi and her minions can get them both through.

    Like they say, if you can’t dazzle them with brilliance, baffle them with bullshit.

  8. MinnesotaRush says:

    I am absolutely convinced that most people .. and I do mean a BIG most people .. really don’t want National Health Care!

    I’m absolutely convinced they really are wanting FREE health care!!! .. and haven’t got a clue that there’s a HUGE difference.

    They’ll still want to go their doctor or clinic .. as often as they want; but have someone else PAY FOR IT! That’s the typical, run-of-the-mill understanding, or view, on what this great, new National Health Care thing will be. You know, just like the Senators and Reps (o-blah-blah & Hillary) got. Go to your doctor and clinic, hospital even, and the government (or God knows who) will pay for it!

    Well .. wrong on all counts! And .. your kids, their kids, and their kids can pay for it all; ‘cuz if we keep up with all this “remaking of America” .. we’ll have to borrow or counterfeit $18.77 for every dollar we spend!

    Good grief!!!

    • MinnesotaRush says:

      Sorry folks .. meant to include this with Trialdog and PR’s commentary just above .. hit the wrong button. Sorry.

    • proreason says:

      MR: “They’ll still want to go their doctor or clinic .. as often as they want; but have someone else PAY FOR IT!”

      Great observation MR. That’s exactly what people want, and what they think will happen.

      And it’s indicative of a wider theme.

      People don’t want higher taxes, just higher taxes on other people.
      People aren’t opposed to wars, just wars that might affect THEM.
      People don’t support free speech for everyone, just people who agree with them.
      People don’t support overspending, just overspending that benefits them.
      People don’t want government interference, just interference that they favor.

    • Barbie says:

      Why doesn’t Obama call this national health care by what its passage will truly accomplish – this national healtcare will be known as ‘The Euthanasia of the Elderly and Disabled’ healthcare.

  9. proreason says:

    This story doesn’t report another interesting fact.

    The deficit projection for 2009 has increased 50% since January, from 1.2 trillion to 1.8 trillion.

    Isn’t it amazing what Bushhitler can do even when he isn’t running the government?


    Try this out at home. “Gee honey, you know when I told you we would be a little under this year. Well it’s May now, and, well, I uh underestimated by $5,000. No problem, right honey? But hey, if my wildly optimistic estimates for the rest of the year miraculously stand up, we may avoid another $5K hit. Good news, heh?”

  10. Confucius says:

    Isn’t this the same kind of spending that got us into trouble in the first place?

    Maybe someone should stress test the government.

    • Liberals Demise says:

      Excellent point!!!

      They are doing a fine job on the sane bunch here!! (stress testing)

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