Budget deficit rises to $120 billion in October

[ScienceRocks]

Budget deficit rises to $120 billion in October
Reuters ^ | Nov 13, 2012 | Reuters
Budget deficit rises to $120 billion in October | Reuters

The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.

The Treasury said on Tuesday the October deficit was $120 billion, larger than economist forecasts for a $114 billion gap and up from $98 billion in October of 2011.

Growth in expenditures outpaced rising receipts, deepening the deficit. Outlays grew to $304 billion from around $262 billion in the same month last year while receipts rose to $184 billion from $163 billion.

Following President Barack Obama's election to a second term last week, the debate in Washington has quickly shifted to the combination of expiring tax breaks and new spending reductions known as the "fiscal cliff."

We either stop handing out free stuff(food stamps, welfare, etc) or face becoming a second rate nation.

 

[ScienceRocks]

Handing out free shit=fail. I'd rather Obama paid for everyones education than this shit. At least that would increase the skills of the populance=more high paid jobs.

This is worthless. Just breeding parasites that will eat this country alive.

 

[WillowTree]

Budget deficit rises to $120 billion in October
Reuters ^ | Nov 13, 2012 | Reuters
Budget deficit rises to $120 billion in October | Reuters

The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.

The Treasury said on Tuesday the October deficit was $120 billion, larger than economist forecasts for a $114 billion gap and up from $98 billion in October of 2011.

Growth in expenditures outpaced rising receipts, deepening the deficit. Outlays grew to $304 billion from around $262 billion in the same month last year while receipts rose to $184 billion from $163 billion.

Following President Barack Obama's election to a second term last week, the debate in Washington has quickly shifted to the combination of expiring tax breaks and new spending reductions known as the "fiscal cliff."

We either stop handing out free stuff(food stamps, welfare, etc) or face becoming a second rate nation.

or realize that obama is playing with the numbers to incite fear and urgency?

 

[ScienceRocks]

Obama isn't going to stop spending....We will go above 20 trillion in debt by the end of this term.

 

[Soggy in NOLA]

Handing out free shit=fail. I'd rather Obama paid for everyones education than this shit. At least that would increase the skills of the populance=more high paid jobs.

This is worthless. Just breeding parasites that will eat this country alive.

Yeah, great... just what we need more Druid philosophers and Post Bolshevik Vagina Studies majors.

 

[ScienceRocks]

Handing out free shit=fail. I'd rather Obama paid for everyones education than this shit. At least that would increase the skills of the populance=more high paid jobs.

This is worthless. Just breeding parasites that will eat this country alive.

Yeah, great... just what we need more Druid philosophers and Post Bolshevik Vagina Studies majors.

The law should state it must be useful for employment. A real skill.