U.S. government begins new budget year with $140.4 billion October deficit, third highest on record

[The Straight Story]

U.S. government begins new budget year with $140.4 billion October deficit, third highest on record

http://twitter.com/breakingnews
http://on.msnbc.com/cy3lZt

WASHINGTON — The federal government began the new budget year with a deficit that was down 20 percent from a year ago but still came in as the third highest October imbalance on record.

The Treasury Department said Wednesday that last month's deficit totaled $140.4 billion, down by $35.9 billion from the record holder for the month, an imbalance of $176.4 billion in October 2009.

Even with the improvement, the red ink last month set the stage for what is expected to be a third consecutive year of $1 trillion-plus deficits. The flood of red ink has contributed to a political backlash that cost Democrats in last week's elections.

[fasttense]

1. Great excuse to destroy the lives of millions of old folks

who thought that when they paid double Social Security taxes, they would get some decent amount of money to live on.

Because we know Social Security is causing this giant debt.:sarcasm:

[BlueCheese]

2. Dang it...

I remember when that was a year's deficit, not a month's.

Or when the negative of that was the surplus.

[n2doc]

3. Might have something to do with the fact that we are collecting a remarkably low level of taxes

See link
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=205

As a percent of GDP Government only collected 14.8% in taxes in 2009, and scheduled to do the same next year. In 2000 we collected 20.6%. The last time it was this low or lower was 1950.

Hell at this point going back to St. Ronnie Raygun's worst tax rates would be a blessing (17.3% of GDP in 1984)

[defendandprotect]

6. End tax cuts for the rich and return to progressive taxation on wealthy/corportions....

And invest in jobs in America -- !!!

Overturn the trade agreements which are simply elites "harvesting slave labor"

all over the globe!

Fight for your country -- fight for jobs!!

[Octafish]

4. Time to cut taxes.

Especially on the wealthy and corporations.

[defendandprotect]

5. End the WARS bankrupting our Treasury .... at the minimum Merge the Services = 28% savings....

immediately --

all other nations have merged their military services --

we need to get on with it!!

STOP this warmongering -- warmaking -- and right wing HAWKING for new wars!!

These are wars of aggression -- immoral and illegal!



STOP THE RIGHT!!