US More Bankrupt Than Ever - $83 Billion April Deficit Is Record

[Terral]

Greetings to All:

What is going on right now in the USA should scare the pants right off of the typical day trader playing the Casino-like Stock Market. The US Economy is IMPLODING right before our eyes, but the out-of-control Obama Regime and the Media keep confidence up with a pile of deliberate lies. Check this out:

Zerohedge.com Article

US More Bankrupt Than Ever - $83 Billion April Deficit Is Record For The Month, $30 Billion Worse Than Expected As Tax Receipts Plunge

Well, if nothing else, we now know officially just how great those tax receipts were, and yes. We were right. April's tax deficit of $83 billion was the highest April deficit on record. America is now more bankrupt than ever. Income was $245.3 billion, 8% below the total recorded last April. Spending was $328.0 billion, up 14% year-over-year. A year ago in April the deficit was $20.9 billion. And here is the data: tax receipts down 7.9% YoY, Individual Income Tax down 21.5% YoY, and more importantly, spending: Total spending up 14.2%, National defense up 17%, Medicare up 39.4%, Social Security up 4.2% and General Government up 5.6%. At least interest payments were down 9.5%.

And now back to your regularly scheduled bankrupt country market melt up.

Spending is out of control and tax receipts are going DOWN, which means China and other foreigners buying our debt are going to wise up even sooner than expected.

GL,

Terral