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A record flow of red ink, already

Posted by Foon Rhee, deputy national political editor January 13, 2009 02:27 PM

President-elect Barack Obama might have been low-balling the numbers when he warned of trillion-dollar federal deficits for the next few years.

With the recession deepening and with the costs of the financial bailout, the deficit for the current fiscal year is already more than the deficit for all of last year, the Treasury Department said today.

The deficit totaled $485.2 billion in just the first three months, compared to $455 billion for the 12 months that ended Sept. 30. In December, the deficit totaled $83.6 billion, compared to a surplus of $48.3 billion in December 2007.

Those numbers do not include the cost of the economic recovery plan that Obama and Congress are drafting, which could total $775 billion or more.

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Does anybody actually think that our government has any intention of helping the american people.All this bailout crap is to put money into the Unions,and to make the Amercan worker dependent on them, and the government.Has anybody out there actually read the Constitution and the Declaration Of Independence and is aware of what role the Government is to have. CHECK IT OUT [I'm talking about the original draft,theone our forfathers had blessed us with before it was trampled on by lesser men!] We are in deep S#%@

Posted by Robert January 13, 09 04:36 PM
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Come on, the Feds can just print more money. It grows on trees.

Posted by smaeno January 13, 09 04:49 PM
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