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2011 U.S. deficit is $1.299 trillion

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WASHINGTON, October 15 (UPI) -- The U.S. Treasury said the deficit for 2011 was the second largest ever, as it topped $1.2 trillion for the third consecutive year.

The deficit is $1.299 trillion, the Treasury said.

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So, the Republican majority in Congress is going to blame this on the fiscally irresponsible Democrats again?

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Startraveler

That would be tough to do when you have the House Republican leader on record saying things like this:

Boehner: When you look at this final agreement that we came to with the White House, I got 98 percent of what I wanted. I'm pretty happy.

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_Only

Think there needs to be a change in how a partly privately owned organization is given the power to lend money to the government, charge interest, and set the moneys value.

But instead we can put 2 sides of a fence, call them democrats and republicans, and watch them fight over issues so we can nominate a guilty side.

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preacherman76

Both parties are to blame. If the American people werent so easily brain washed, neither of these parties would even exist anymore. At least not a electable version of either side.

Edited by preacherman76

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BlindMessiah

Think there needs to be a change in how a partly privately owned organization is given the power to lend money to the government, charge interest, and set the moneys value.

Our deficit is entirely because of Congress, not the Federal Reserve. Whoever the US borrows money from charges interest. When we borrow from the FED, they give most of the interest back.

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DieChecker

So, the Republican majority in Congress is going to blame this on the fiscally irresponsible Democrats again?

The deficit, however, is $347 billion less than the White House's February forecast. On balance, revenue rose by $141 billion over 2010, while spending climbed $145 billion

Read more: http://www.upi.com/Top_News/US/2011/10/15/2011-US-deficit-is-13-trillion/UPI-48891318681197/#ixzz1azAHAcbI

That does fall in line with Obama's Super Duper Plan to lower the Deficit by 4 trillon over 10 years. 4billion/10 = 400 billion per year. So... going by that metric, it was only a mild failure, because it is close to what Obama says will save the economy anyway.

Democrats point to falling revenues, most notably the George W. Bush era tax cuts.

Because then the deficit would be ONLY 1.0 trillion, instead of 1.3 Trillion. Wow! That would have really saved our Bacon.

What is really needed is to put those 15 million people back to work so they will pay their taxes and stop taking money out of the system instead of putting it in. And.... The stupid Jobs Bill isn't going to help. All it's going to do is put money in the middle class's pockets in an attempt to buy votes.

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That does fall in line with Obama's Super Duper Plan to lower the Deficit by 4 trillon over 10 years. 4billion/10 = 400 billion per year. So... going by that metric, it was only a mild failure, because it is close to what Obama says will save the economy anyway.

Because then the deficit would be ONLY 1.0 trillion, instead of 1.3 Trillion. Wow! That would have really saved our Bacon.

What is really needed is to put those 15 million people back to work so they will pay their taxes and stop taking money out of the system instead of putting it in. And.... The stupid Jobs Bill isn't going to help. All it's going to do is put money in the middle class's pockets in an attempt to buy votes.

Hate to break it to you but Obama does not hold the purse.

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DieChecker

Hate to break it to you but Obama does not hold the purse.

Probably partly why the Jobs Bill did not pass.

Also probably why the February White House forcast of 1.6 trillion did not get reached.

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