And it’s a record that really sucks.
The US Treasury Department says that the federal budget deficit hit a record for the month of April, reaching nearly 83 billion dollars.
On Wednesday, the Treasury Department announced that the April deficit soared to $82.7 billion, the largest imbalance for that month on record.
That was significantly higher than last year’s April deficit of $20 billion and above the $30 billion deficit private economists had anticipated.
Revenues for April were down 7.9 percent from a year ago, dipping to $245.3 billion. That decline included a fall in individual income tax payments.
That reflected not only the impact of millions of people out of work but also tax relief provided through the economic stimulus program that Congress passed in February 2009.
The latest data brought the deficit for the first seven months of fiscal year 2010 to around 800 billion dollars.
The White House had warned that the deficit for fiscal year 2010 could go above one and a half trillion dollars.
U.S. posts April deficit for 3rd time in 30 years
U.S. Posts 19th Straight Monthly Budget Deficit
19 Straight Months! April’s Record-Breaking Budget Deficit
US budget deficit wider-than-expected in April
Federal budget deficit $82 billion in April
Budget Deficit in U.S. Widened to $82.7 Billion (Update1)
U.S. posts record April budget gap-UPDATE 2
U.S. April budget deficit $83 billion: Treasury
It’s especially pathetic when the totally out of control, Democrat Congress enabled Obama administration spending sets a budget deficit record in the month when the bulk of the yearly Federal tax receipts roll in!
/this isn’t Greece, is this Greece?
Filed under: Blog Entry | Tagged: April Deficit, Barack Obama, Budget Deficits, Congress, Democrats, Economy, Federal Budget Deficit, Individual Income Tax Payments, Largest Imbalance, National Debt, Obama Administration, Private Economists, Record, Revenues, Stimulus, Tax Receipts, Tax Relief, U.S. Department Of The Treasury, White House | Leave a comment »