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….
Moderate in the Middle 