Federal Deficit Reaches $1.27T in July

(AP)  The federal deficit climbed higher into record territory in July, hitting $1.27 trillion with two months remaining in the budget year.

The Treasury Department says the July deficit totaled $180.7 billion, slightly more than the $177.5 billion economists had expected.

The Obama administration is projecting that when the current budget year ends on Sept. 30, the imbalance will total $1.84 trillion, more than four times last year's record-high.

Massive amounts of government spending to combat the recession and stabilize the U.S. financial system have pushed the deficit higher. The cost of wars in Iraq and Afghanistan, along with depleted government tax revenues, are also major factors.

[mindsear]

um....the CBO forecast a defecit of $1.2T BEFORE OBAMA TOOK OFFICE. if McCain were in office would you be blaming him for spending us into oblivion?

[TheMasses2016]

Federal Deficit Reaches $1.27T in July
---------------------
Can anyone say a gazillion?

[Imadinnerjacket]

Spend that money Barack, SPEND us into Oblivion.. OH.. here is a thought.... maybe JOBS?????????

[swin5]

$1.27 trillion deficit in 6 months - way to go BO. At this rate, he will add $10.16 trillion to the national debt in just four years, or $20.32 trillion if we are foolish enough to give him and the democrats a second term. And don't blame it on George W. - the bulk of this deficit is for the porkulus bill which was passed by BO and the democrats. And what will the numbers be if he gets his government takeover of the health care industry passed? Are we in trouble, or what?

[Volksstimme]

YES WE CAN ............ And sure they did. Thanks for screwing America

[rational_1]

So, when next year's deficit breaks this year's record and the one after that is bigger still, when will it end being Bush's fault? If the Dems ram this idiotic healthcare bill through Congress and that socialist in the Oval Office signs it, we will have continually escalating yearly deficits, until the Chinese stop enabling us. Those deficits will be blamed entirely on the Dems. Of course it is possible that Obama's healthcare plan will really be revenue-neutral, but considering the mess the Feds made of Social Security and Medicaire and the yearly bailouts of the Post Office and Amtrak, how can anyone seriously believe that this time they'll actually get it right and deliver a product that is fiscally responsible? Come one, seriously!

[rightbehind]

All brought ot you by the party of credit default swaps, hedge funds, derivatives, speculators and speculation. Free markets ya right! 18 more republican senate seats on the ballot in just 15 months!

[rightbehind]

This president inherited a mess. Anyone remember the congressional close door meetings and possible martial law before bush left office?

[Oregon_State_OSU]

Yes and the Claims that Cheney has made about Torture and WMD's and the Reasons for the USA to get into Iraq.

[Volksstimme]

Don't go there. The democrats were in power since 2006

[Oregon_State_OSU]

THANKS GEORGE W. BUSH for getting the US into TWO wars and not being Man enough to admit you jacked up pretty much everything under the sun and the Economy and then handing off the entire mess to the next President.

I would like to know what the Federal Deficit would be without IRAQ and Afganistan included.

Thank the LORD that McCain and Palin are not in OFFICE because another 4 years of Repbulican Control and we all would be Burning in the Lake of Fire with a hand basket.

[vietnamwar]

by Oregon_State_OSU August 12, 2009 2:47 PM EDT
THANKS GEORGE W. BUSH

FUNNY THAT DUMACRAFT STILL BLAME ON BUSH...HEH HEH HEH
BILL CLINTON SHIP OUR JOB TO NAFTA AND CHINA THAT IS ALSO BUSH FAULT..

[Oregon_State_OSU]

vietnamwar August 12, 2009 3:02 PM EDT

Typical Republican when they know they are wrong or forced into a corner they SHIFT BLAME & POINT FINGERS & use the lines "I don't Remember" or "I don't Recall". When Clinton handed over the White House to GWB we were not in Two wars and the Economy was not in the Krapper or on the way to the Krapper. It took GWB 8 years to Jack Everthing up vietnamwar & you know that ! & also 9-11 happened on George W. Bush's watch so the republicans are 0 & 1.

So vietnamwar OWN up to What your Savior GWB did for the USA and the lies that Cheney dished out about WMD's and the reasons to go into IRAQ and dont blame Clinton because without the Costs of Iraq and Afganistan the Federal Deficit would not be near as much so spare me the krap vietnamwar.

What does GOP stand For ?

Got NO Plans = Got Zero Plans = G0P
NO PLANS, NO PLANS, NO PLANS !

[steve54z]

Barack Obama should reconsider his energy policy. His stimulus idea will not correct the federal budget deficit. The real issue is revenue. Gasoline is approaching $3 a gallon. His OPEC Friends are dedicated to bankrupting America. He must embrace science and technology to end the misery of this recession. Hydrogen fuel, shale natural gas, coal to gasoline, and nuclear power plants will break the choke hold of the Arab Cartel.

[the_majesty]

1.2 TRILLION ------ Obama strikes again ............

[sjc_1]

The budget deficit was projected to be $1 trillion for 2009 when Bush signed the budget in 2008.

"Massive amounts of government spending to combat the recession and stabilize the U.S. financial system have pushed the deficit higher. The cost of wars in Iraq and Afghanistan, along with depleted government tax revenues, are also major factors."

ALL of those factors are direct results of Bush's arrogance, incompetence and neglect for 8 years, just like he ignored Al Qaeda leading to 9/11.