Thursday, January 14, 2010
Federal Deficit Nightmare Worsens!
The deficit for this fiscal year is not only compatible to that of last year, but it is substantially worse. In the first three months of this year (October, November and December), the U.S. government's deficits have already surpassed 388 billion dollars. Last year, the government produced a deficit of 332 billion dollars during the same time period. Basically, the out-of-control government spending is getting even crazier. In 2009, the deficit hit an all-time December high of 91.85 billion dollars. The problem is that the government will not be able to produce deficits like these for much longer without risking some dire consequences.
After all, would you invest in the dollar if you knew that government could never pay you back?