U.S. posts 19th straight monthly budget deficit.

May 12, 2010

WASHINGTON (Reuters) - The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.

It was more than twice the $40-billion deficit that Wall Street economists surveyed by Reuters had forecast and was striking since April marks the filing deadline for individual income taxes that are the main source of government revenue.

Department officials said that in prior years, there was a surplus during April in 43 out of the past 56 years.

The government has now posted 19 consecutive monthly budget deficits, the longest string of shortfalls on record.

For the first seven months of fiscal 2010, which ends September 30, the cumulative budget deficit totals $799.68 billion, down slightly from $802.3 billion in the comparable period of fiscal 2009.

Outlays during April rose to $327.96 billion from $218.75 billion in March and were up from $287.11 billion in April 2009. It was a record level of outlays for an April.

https://abcnews.go.com/Business/wireStory?id=10627975

I have been hearing all the noise about how this administration has been turning the trouble it inherited around and doing some kind of good.
Don't this news kinda show what this administration has done or not done in a different light?

What happens in April?

Tax returns.

Who got bigger returns in April 2010 than April 2009? Many people. Of course the deficit will be higher than April 2009 which was based on 2008 returns when people paid more taxes.

What about the 43 out of the past 56 years or the other 18 months ?
It is more than double what the wall street guys had predicted .
I realize he inherited a mess , but it seems that he's just carrying on what was in place when he stepped in the mess. Instead of all that blah blah blah he gave that has so many 'enthralled ' with him.
He does not have the experience and the people advising him are all out to make sure they get their pockets lined and to hell with the voters.
It's not surprising to me that he has turned out to be just more of the same as far as politicians go. IMO well there are some things he should as president of out nation step up to instead of sitting down .but that's JMO.

Deficit spending, two wars, bank bailout, stimulus package and the list goes on. This isn't something that's surprising. It's not good news and it does need to be handled but we're going to be up to our neck in debt for the next decade.

I'm afraid it will be a heck of a lot longer than a decade. More like our grand children's children will be 'up to their necks in debt' or worse .

I've been hearing that phrase for as long as I can remember. I don't know if it will be that long. But we're looking at a long haul project that will definitely affect the next generation. I will commit to that.

If We the People don't get educated about what our responsibility is towards our self governing Nation , then we will continue to allow the politicians (the ones that are suppose to be accountable to us) to line their own pockets and those of their buddies and put so many regulations and BS laws on us soon we will become "We the Sheepeople"