Update: Another blowout month for the Obama Budget- deficit bigger than forecast; Obama is no Big Dawg – deficit spending

Update: Ed at HotAir has the latest example of Obama’s utter failure as a fiscal moderate:

(…)The federal government kicked off fiscal year 2010 by posting its widest-ever October budget deficit, the Treasury Department said Thursday.

The $176.36 billion gap is more than $20 billion wider than the shortfall recorded in October 2008, driven up by lower tax receipts, stimulus-related revenue reductions and consistently high government outlays.

Treasury’s monthly budget statement shows receipts were $135.33 billion in October, down 18% from a year earlier and at the lowest level since October 2002. Meanwhile, outlays were $311.69 billion, down 3% from a year earlier and at their second-highest monthly level on record.

When revenues drop 18% and outlays only drop 3%, it’s not hard to hit record deficits. It’s roughly four times as large as September’s deficit, which closed out FY2009 with an annual deficit just under $1.4 trillion.  September’s deficit of $46 billion will serve as a nostalgia point in the coming months of the FY2010 budget….

Part of a continuing exciting new series! Pointing out the obvious so the new gen of Reagan Democrats can prepare for 2012…

Today, how Obama is a spendthrift!

This line in the Politico piece on how Obama will focus on the deficit, (BWAAAAHAA!!!), jumps out:

…Obama has spent more money on new programs in nine months than Bill Clinton did in eight years, pushing the annual deficit to $1.4 trillion. This leaves little room for big spending initiatives….


We're gonna need a bigger graph.....

November 13, 2009. Tags: , , , , , , , , . Politics.

One Comment

  1. Diane Pearce Loves Obama replied:

    Just wanted to say that I am working at a large Pharmaceutical company in Clayton NC and I endroce Barack Obama with all my heart. I would love for all my friends and colleagues to re-elect Obama in 2012!! I LOVE YOU OBAMA


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