Tuesday, May 12, 2009

Federal Government Must Borrow Nearly Half of What it Spends




From GOPUSA
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.

2 comments:

  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!

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