Federal Budget Deficit Hits All-Time High in April
The federal budget deficit hit an all-time high for the month of April as government revenue fell sharply.
The Treasury Department said Wednesday the April deficit soared to $82.7 billion, the largest imbalance for that month on record. That was significantly higher than last year's April deficit of $20 billion and above the $30 billion deficit private economists had anticipated.
The government normally runs surpluses in April as millions of taxpayers file their income tax returns. However, income tax payments were down this April, reflecting the impact of a severe recession which has pushed millions of people out of work.
The Obama administration is forecasting that the deficit for this year will hit an all-time high of $1.56 trillion, surpassing the current record of $1.4 trillion set last year.
Asked by Anonymous at 3:35 PM on May. 12, 2010 in Politics & Current Events
Answer by LoriKeet at 6:22 PM on May. 12, 2010
Answer by Anonymous at 3:37 PM on May. 12, 2010
Answer by RutterMama at 3:38 PM on May. 12, 2010
And health care reform is now predicted to cost OVER ONE TRILLION DOLLARS.
Answer by mancosmomma at 3:46 PM on May. 12, 2010
Answer by RutterMama at 4:24 PM on May. 12, 2010
Answer by Anonymous at 5:17 PM on May. 12, 2010
Answer by itsmesteph11 at 5:55 PM on May. 12, 2010
Answer by mancosmomma at 6:36 PM on May. 12, 2010
Answer by Anonymous at 7:25 PM on May. 12, 2010
Look around you, do you see ANYONE benefiting from the astronomical spending that is going on in D.C.? I don't!
But, the gvt. elitist are having a grand time riding in limos, jets and whatever their little hearts desire because we get to pay for it, isn't that nice? And when the increases for power and gas, etc. come through because the elitists all have bought stock in carbon credits, they will make mega bucks but never mind about that, they will still allow us to pay for their bills and of course, we get to pay for ours, all the while they will make huge profits, such nice considerate politicians we have...
Answer by agentwanda at 10:24 PM on May. 12, 2010