Good News: October Deficit Worse Than Expected

by Stephan Tawney on November 13, 2009

Yeah, somehow I doubt this will help Democrats in their efforts to socialize America’s healthcare system. It’s difficult to sell Americans another deficit-exploding program on the heels of news that the current deficit is worse than even the White House had projected.

Turns out that the federal deficit for October was around $176.36 billion, or $20 billion higher than the administration has publicly predicted. You know, rounding error and all that…

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.

So the federal government took in $135.33 billion and paid out $311.69 billion in just one month. Yet Congress is considering adding hundreds of billions of more dollars to the federal deficit by having the government take over and degrade the nation’s healthcare system. And this makes sense to our supposed representatives in Washington.

By the way, September’s deficit? $46 billion. That means that the deficit for October was about four times higher than that of September. The ninth month finished out a fiscal year that recorded a $1.4 trillion deficit. Can you imagine what FY2010′s deficit will look like? We’ll be yearning for the comparatively fiscally-responsible days of 2009.

And yet this same government wants us to believe that its taking over the nation’s healthcare system will actually improve quality and lower costs. How stupid does it think Americans are?



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