red states rule
11-27-2012, 04:17 AM
Once again the facts get in the way of the Dems message, and the liberal media's support for higher taxes. Seems the tax revenue increases yet the unchecked spending goes on. So far al I have heard from Dems is Social Security, Medicare, and Medicaid are of limits - while the US military can be cut as much as the libs want to. Republicans seem to be caving and will go along with raising taxes BEFORE getting any REAL spending cuts - which has ben their track record. IOW, more of the same which is what the voters said they wanted on Election Day. It is amazing how some people actually believe the government is underfunded and people are under taxed.
The federal government started the 2013 budget year with a $120 billion deficit in October, an indication that the nation is on a path to its fifth straight $1 trillion-plus annual deficit.A soaring deficit puts added pressure on President Barack Obama and Congress to seek a budget deal in the coming weeks.
The Treasury Department said Tuesday that the October deficit — the gap between the government's tax revenue and its spending — was 22 percent higher than the same month last year.
Tax revenue increased 13 percent from the same month last year to $184.3 billion. But spending rose 16.4 percent to $304.3 billion. Spending was held down last October by a quirk in the calendar: the first day of the month fell on a Saturday, so some benefits were paid in September 2011.
The deficit, in simplest terms, is the amount of money the government has to borrow when revenues fall short of expenses. The government ran a $1.1 trillion annual budget deficit in the fiscal year that ended in September. That was lower than the previous year but still painfully high by historical standards.
Obama's presidency has coincided with four straight $1 trillion-plus deficits — the first in history and a record he had to vigorously defend during his re-election campaign. http://bigstory.ap.org/article/us-government-runs-120-billion-october-deficit
The federal government started the 2013 budget year with a $120 billion deficit in October, an indication that the nation is on a path to its fifth straight $1 trillion-plus annual deficit.A soaring deficit puts added pressure on President Barack Obama and Congress to seek a budget deal in the coming weeks.
The Treasury Department said Tuesday that the October deficit — the gap between the government's tax revenue and its spending — was 22 percent higher than the same month last year.
Tax revenue increased 13 percent from the same month last year to $184.3 billion. But spending rose 16.4 percent to $304.3 billion. Spending was held down last October by a quirk in the calendar: the first day of the month fell on a Saturday, so some benefits were paid in September 2011.
The deficit, in simplest terms, is the amount of money the government has to borrow when revenues fall short of expenses. The government ran a $1.1 trillion annual budget deficit in the fiscal year that ended in September. That was lower than the previous year but still painfully high by historical standards.
Obama's presidency has coincided with four straight $1 trillion-plus deficits — the first in history and a record he had to vigorously defend during his re-election campaign. http://bigstory.ap.org/article/us-government-runs-120-billion-october-deficit