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How much higher will it go?

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.

 
Anonymous

Asked by Anonymous at 3:35 PM on May. 12, 2010 in Politics & Current Events

This question is closed.
Answers (10)
  • Yay Obama!!!





    Someone had to say it...since the usual suspects aren't in here cheering for their man! But just like Obama, I don't mean it! LOL :o)
    LoriKeet

    Answer by LoriKeet at 6:22 PM on May. 12, 2010

  • Anonymous

    Answer by Anonymous at 3:37 PM on May. 12, 2010

  • And let us not forget... the $1.4 trillion set last year was set BY Obama's administration also!
    WHEN will they ge the message???
    RutterMama

    Answer by RutterMama at 3:38 PM on May. 12, 2010

  • And health care reform is now predicted to cost OVER ONE TRILLION DOLLARS. 

    mancosmomma

    Answer by mancosmomma at 3:46 PM on May. 12, 2010

  • And where will THAT money come from??????
    RutterMama

    Answer by RutterMama at 4:24 PM on May. 12, 2010

  • *crickets* No one wants to talk about it, cuz they know it sucks!
    Anonymous

    Answer by Anonymous at 5:17 PM on May. 12, 2010

  • Well, don't think the Dems will be stopping their spendthrift ways. They have billions marked to go for Obamas approval over and above the money for Health care, Cap and Tax and Immigration. Spending was up 14% in April as it is. They are not planning to cut spending anywhere.
    itsmesteph11

    Answer by itsmesteph11 at 5:55 PM on May. 12, 2010

  • LOL, Lori!
    mancosmomma

    Answer by mancosmomma at 6:36 PM on May. 12, 2010

  • Where are all the liberals cheering him on to fix the problem?
    Anonymous

    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...

    agentwanda

    Answer by agentwanda at 10:24 PM on May. 12, 2010