CHESSNOID

Good news, the budget deficit shrank!  Just kidding.

We continue to break records no matter how positive the main stream media tries to present it.   The Obama administration has surpassed the Bush administration in its  record deficit spending and  have only failures to show for it.  No reasonable argument that demonstrates measurable results can even be presented.

Reuters:

With one month to go in the 2009 fiscal year, which ends September 30, the deficit stood at a record $1.378 trillion, versus a same year-ago deficit of $500.53 billion.

The White House budget office on August 25 forecast a $1.58 trillion deficit for the full 2009 fiscal year, implying that September — in normal times a surplus month — would produce a deficit of more than $200 billion.

A September deficit would mark a record 12 consecutive months of deficits. Only three other times has the United States racked up 11 consecutive monthly deficits — July 1982 to May 1983; May 1986 to March 1987; and May 1991 to March 1992.

The Treasury said receipts for August fell to $145.54 billion from $157.02 billion a year earlier, marking a 7.3 percent decline. For the first 11 months of the fiscal year, receipts are down 16.2 percent to $1.885 trillion from $2.251 trillion, as the economy struggled through the worst recession since the 1930s Great Depression.

We will soon have a speech from the Obama administration explaining how bad the economy was before he took over and how necessary it was to go into deficit spending.

The problem is the economy is worse now than when he took over and most of the money wasted can’t even be accounted for. The results of 10% national unemployment and record foreclosures can’t be disputed. The numbers don’t lie, but politicians do.