US Treasury fiscal 2008 year-to-date deficit record $153.8B, up 26 pct

[Robbien]

Source: Forbes

WASHINGTON (Thomson Financial) - A slowing economy has begun taking its toll on US government finances as the Treasury today reported record deficits for both the month of November and the first two months of its 2008 fiscal year, the latter being a record 153.8 bln usd.

The deficit for October and November, the first two months of the federal government's 2008 fiscal year, was up 26 pct from the previous same period, Treasury reported. Revenues were up 5 pct this year to 329.2 bln usd and spending up 11 pct to 483.0 bln usd.



Read more: http://www.forbes.com/afxnewslimited/feeds/afx/2007/12/12/afx4432465.html

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Basically spending on occupations in the ME.

[Selatius]

1. Want to make the Repubs squirm hard? Pit their anti-tax stance against their pro-war stance.

In short, propose a patriotic war tax. Advertise it in the same way FDR advertised it during the war years. Force the Repubs to choose between their hatred of taxes and their love of war.

[Zynx]

2. Hopefully this will finally bury the supply-side nonsense.

The boom in government revenues was largely caused by a capital-gains tax revenue surge due to the Housing Bubble. Now that the bubble is unwinding, those revenues will collapse. Also, every financial institution in country won't be paying tax over the next year since their profits will be wiped out by write-offs.

[Solar_Power]

3. That's without the cost of the wars

[Javaman]

4. I wonder what the actual number would be?

:scared: