Thursday, March 13, 2014

Budget Update

This is supposed to be the big year.  Yup, this is supposed to be that milestone year where Obamanomics turns sensible and we don't spend $1 trillion more than we take in.  We're only going to add $500 billion more to our massive stinking $17 trillion pile of insolvency.  This should hardly be a consolation, but in Obamaworld with a criminally corrupt media, it's just ducky.  But wait, how is the math gonna work?  Check this out from today's budget news.
The deficit totaled $377.4 billion in the first five months of fiscal 2014, compared with a $494 billion shortfall from October 2012 through February 2013, according to the report.
The gap this year will narrow to $514 billion, or 3 percent of gross domestic product, from 9.8 percent of GDP in 2009, the CBO said on Feb. 4.
We're less than half through the fiscal year, but we've racked up 73% of the projected deficit?  Huh?  Put another way, we have $137 billion of headroom left to meet this new awesome, totally fiscally responsible deficit projection over seven months.  That's $19 billion per month of deficits for each remaining month.  February's deficit was 10x that amount.
Spending exceeded revenue by $193.5 billion last month, compared with a $203.5 billion deficit in February 2013, the Treasury Department said today in Washington. The median estimate in a Bloomberg survey of 20 economists was for a $195 billion shortfall.
 Oops.  Not a chance in hell we're making that $500 billion number.  I blame George W. Bush.


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