Budget deficit $85.47 bln, record for March

[swag]

http://news.yahoo.com/s/nm/20060412/bs_nm/economy_budget_dc_1

WASHINGTON (Reuters) - The U.S. government posted an $85.47 billion federal budget deficit in March -- its highest in history for that month, the U.S. Treasury Department reported on Wednesday.

The March shortfall between government income and spending was up from a $71.21 billion deficit in March 2005. While it was a record for any March, it was less than the February 2006 monthly deficit that was a record for any one-month period at $119.20 billion.

The March deficit figure easily outstripped Wall Street economists' forecasts for a $73 billion shortfall.

. . .

On March 3, the Congressional Budget Office estimated the U.S. budget deficit for the full fiscal 2006 year, which ends on September 30, will hit $371 billion.

That would be up from a $318 billion budget deficit in fiscal 2005 and would put the deficit at 2.8 percent of gross domestic product compared with 2.6 percent last year, CBO said.

[brentspeak]

1. One of the Laws of American economics is again proven correct:

When Republicans hold the purse strings, the nation goes broke.

[swag]

3. Reagan and Bush I were the previous champion fiscal incontinents

[RobertSeattle]

2. Republicans are good stewards of Taxpayer money

Bwa Ha Ha ha

:sarcasm:
:sarcasm:
:sarcasm:
:sarcasm:

[saigon68]

14. Just Print more money

[gratuitous]

4. Don't worry, once we get those illegals out of the U.S.

Why, everything will be as right as rain as soon as we return Hector, Luisa and 11 million others to their country of origin. I wonder how the GOP proposes to pay for such a massive relocation effort?

[slide to the left]

5. CAn we deport republicans? nt

[Moderator]

6. Kick

[DeepModem Mom]

7. WP/AP: Government Spending Hits Record in March

Government Spending Hits Record in March
By MARTIN CRUTSINGER
The Associated Press
Wednesday, April 12, 2006

WASHINGTON -- Government spending hit an all-time high for a single month in March, pushing the budget deficit up significantly from the red-ink level of a year ago.

In its monthly accounting of the government's books, the Treasury Department reported Wednesday that federal spending totaled $250 billion last month, up 13.7 percent from March 2005.

Government receipts also were up, rising 10.6 percent from a year ago, to $164.6 billion. That left a deficit for the month of $85.5 billion, a record imbalance for March.

Treasury Department officials said that half of the growth in outlays for March represented a $15 billion shift in payments for certain government benefit programs, including Medicare, into March rather than April. The benefit payments were made early because April 1 fell on a Saturday.

The March outlay record of $250 billion surpassed the old mark of $232 billion set in February....

http://www.washingtonpost.com/wp-dyn/content/article/2006/04/12/AR2006041201318.html

[w4rma]

8. omg

:wow:

[swag]

9. Yeah, the Republicans are going for the gold medal in borrow and spend:

On March 3, the Congressional Budget Office estimated the U.S. budget deficit for the full fiscal 2006 year, which ends on September 30, will hit $371 billion.

That would be up from a $318 billion budget deficit in fiscal 2005 and would put the deficit at 2.8 percent of gross domestic product compared with 2.6 percent last year, CBO said

[MisterP]

10. ew, they put a photo of a dead corpse at the bottom of the article

[JNelson6563]

11. But I was assured on TeeVee it was OK

And if it's on TeeVee it must be true, right? I mean, they are experts and everything, aren't they?

;-)

[whistle]

12. The cumulative two month deficit then is $204.67 billion which...

...is 67.6% of the total cumulative $302.99 billion deficit for the first six months of 2005/2006 fiscal year. As I see it then the total deficit for the 12 months is going to be between $606.0 billion to $917.0 billion if this trend continues. The should leave the rich, extremely rich!

[tritsofme]

13. Lots of tax payments in April/May

The feds will probably run a surplus for those months.

Surpluses were registered earlier in the year with quarterly tax payments as well.