Tuesday, May 12, 2009

Federal Government Must Borrow Nearly Half of What it Spends

Today at 6:17am

WASHINGTON (AP) -- The government will have to borrow nearly 50 cents for every dollar it spends this year, exploding the record federal deficit past $1.8 trillion under new White House estimates. Budget office figures released Monday would add $89 billion to the 2009 red ink -- increasing it to more than four times last year's all-time high as the government hands out billions more than expected for people who have lost jobs and takes in less tax revenue from people and companies making less money.


  1. The Conservative Republicans Should be able to defeat Liberal/Democrats Easily next year in the mid term elections. I Fear what Obama Will be able to do in his last two years with another Majority in both houses of Congress. Let's ALL Hope and Pray that it doesn't happen. I Can't think of a worse scenario if that happens and then Obama gets two more years to Damage and destroy this country!