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US budget deficit to reach USD 1 trillion
Press TV
Thursday, Dec 11, 2008
The US government faces an unprecedented budget deficit of USD 1 trillion or more as the ongoing recession takes its toll on the economy.
Data released by the US Treasury Department on Wednesday revealed that the federal government ran a record deficit last month, which hints at a 13 digit figure for this budget year.
The deficit reached USD 401.6 billion in the first two months of the budget year (beginning on October 1), just a fraction under USD 455 billion gap posted for all of last year.
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If the deficit passes the USD 1 trillion mark, it would also be the highest post-World War II shortfall when measured as a percentage of the economy.
The high budget gap has roots in both lower tax income and extremely lavish bailout policies that the US government has pursued since the beginning of the economic recession.
Recent figures have shown that the US government is ready to inject up to USD 7 trillion of taxpayers’ money into the slumping economy to save ailing financial institutions from total bankruptcy.
The latest massive government handout is a USD15-billion bailout plan for the auto industry, which was approved by the US House of Representatives on Wednesday.
Prior to House approval, the plan attracted criticism from many recognized figures such as Microsoft founder and multi-billionaire Bill Gates.
“After all, they have to say if no one else is willing to invest, why is that?… What is it that investors are seeing about this business model or cost structure that makes them unwilling, and why, in that case, is the government alone stepping forward in this way,” Gates said in a televised interview last week.
“When you don’t have any private investors you really have to say, is taxpayer money going to have the desired effect?” he added.
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21 Responses to “US budget deficit to reach USD 1 trillion”
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December 11th, 2008 at 5:58 am
the big three does not evan try try to make cars for the working class ,just the yuppes.let them sink.
December 11th, 2008 at 6:46 am
All planned so nicely for us. Such liars and theives> computer hackers too> tRY READING rise of the fourth reich and ronald weinlands free online or shipped books. you moneychanging not elite are on borrowed time and our future rocks. pampers
December 11th, 2008 at 7:00 am
this website is fucking gay
December 11th, 2008 at 7:01 am
my comments dont even show up
December 11th, 2008 at 7:02 am
Somebody has to pay this money back. Our children will thank us forever for this investment NOT!
December 11th, 2008 at 7:23 am
@st0n3, Yes sometimes mine don’t either, EVER. There is some filter it goes through so you are right. But it is what it is, f’d up and all.
December 11th, 2008 at 7:28 am
If 15 Billion save 2-3 million jobs in car industry from the whole 700 Billion, I think its still the best investment after all. The first 350 Billion has create no job at all neither save 1.
December 11th, 2008 at 9:04 am
Well then can allways default on the debt
December 11th, 2008 at 10:44 am
If you pump all this money into the auto industry how is this going to get people who have no jobs and no money to buy cars? You are going to have people with jobs making a product that few can afford or want. Doesn’t make sense to me. Let the market correct itself, stop trying to maek a sinking ship float.
December 11th, 2008 at 10:59 am
What you better worry about is the fact that 90% of the American public has said no to this bail-out,but they are going to do it anyway.So it does not matter anymore what is right,we are being sold down the river by a bunch of idiots that care what they spend,we need to fire the whole Congress and House and start over again nobody could screw it up any worse.
December 11th, 2008 at 12:28 pm
So much money is spent on busting weed farmers, preventing open air parties and raves, etc, etc no wonder the country is bankrupt! haha Thats before you get into the fact that they’re giving huge amounts to the richest people…
dave had it right at comment 1, why should people pay tax money into the coffers of badly run companies which never did anything to help the people? why should tax money go to protect rich and powerful people by providing police escorts and armed guards when no one comes if i report my house is being robbed? why is so much money being wasted on stopping people living their own life how they choose to live it?
December 11th, 2008 at 12:34 pm
Nevada, Las Vegas has been imploding since the price of gas under (jr) hit $4.50g, the Economy cannot hold together under BUSHWHACK Nazi mindset…Save our system of PoliceStates USA…SPEND more, DEBT debt debt more…
December 11th, 2008 at 1:07 pm
but spiketv said they needed 20 million for a fallen soldier brian injury centre. maybe those guys should have asked the pentagon for a peice of that 20 billion thats missing from they budget. you reap what you sew amerikans!
December 11th, 2008 at 1:42 pm
Massive amounts of stolen money over many years – Liberty’s money also paying for the toxic chemicals added to most food, water, milk, vaccinations and chemtrails? The ‘deficit’ verbiage is programmed by the elite with the control of the central banks in mind. The outrageous amount of money that poured into the unnecessary wars for the perpetrators to profit off of, is ‘not’ the financial responsibility of the American people. There is a concrete papertrail, all over the internet, thanks to Christopher Story, of the nations stolen funds as we wait by the hour for the ’settlements’. If the bankers want to play bank, I have no problem with it – but only if they succumb to the laws like everyone else, otherwise they need to get the hell out.
Major strikes, already in place, are the deadly poisons they’re infiltrating the skies with to destroy the masses for their satanic society, while tip-toeing around the global warming fraud. The world is talking about the trenches who received front row seats to ‘watch’ hundreds jump from the Twin Towers – not to mention the planned demolition that all backfired in the end with a history-full exposed and questions answered. I don’t want to hear crap about deficit – what you have are massive criminal operations, mass murder, espionage, missing children and every other criminal statute at your fingertips to blanket the floors of federal courtrooms.
Whomever planned all this obviously wanted it exposed, because they did a horrible job at covering the culprits. But these are the ones who call themselves ‘intelligent’ – go figure. I would suggest wisdom instead of aggression and honey instead of poisoned vinegar, but the bees are all gone because the residue of their chemtrail toxins was found inside the hives! How elated were their scientists on how to interrupt pollination that the saps forgot to tie up the loose ends! I’ve seen better wisdom with the street-smart raised on food stamps. But let me shut up here, because obviously the Lord Himself retracted common sense from these franken-chemists in order to allow them to expose themselves.
Did they honestly believe lucifer’s ‘alter of scientology’ would cross the t’s and dot the i’s of Pikes predictions? It can’t because these are not true prophecies but a hope that some created scenarios can bring about an expected end. Yet, what do you want from the devil who bares ‘no truth’ nor power to fulfill a prophecy on his own! Consider how frustrated the imp is having to depend on human weakness. All God has to do is speak and what He says comes to pass. He laughs as the devil plays into His hands. The earth is God’s footstool and the man-made ora is about to illuminate His nail-scarred feet.
December 11th, 2008 at 3:27 pm
see CFR report at whatdoesitmean.com. Till the day, illuminati creeps. Regards from Enoch, Annie
December 11th, 2008 at 5:26 pm
What the hell, tack a zero on that and make it 10T.
December 11th, 2008 at 6:12 pm
Wait, only 1 trillion? What about the 8 trillion bailout money, isn’t that part of the deficit???
December 11th, 2008 at 9:42 pm
I’m sure it will be much, much more than that!
December 11th, 2008 at 10:54 pm
Greed, it’s a sickness, a disease, and an addiction. Like other addictions it should be treated as one. Like drugs and alcohol! if you can’t keep it under control. The government has a place for you it’s called prison.
December 13th, 2008 at 7:32 pm
I can see this bailout going to the 15-20 trillion range and if America does not wake up at that point, then they might like the FEMA camps. In fact, the mindless can work there and enslave fellow Americans for third world wages and some made up title of authority.
December 14th, 2008 at 5:13 pm
Has anybody noticed that while we’re being bombarded with all these figures of debt and news of the current ‘credit crunch’ the US Dollar is actually growing in strength on the Foregn exchange markets….
The £1.00 would have bought you $2.02 back in the early summer yet now will buy you only $1.45 therefore demonstrating the Dollar’s almost un noticed growth in strength lately. Oddly enough the Euro has also gained against the £ to almost equal value.
How long i wonder will it be before the $ = £ = Eu…….
Amid all the confusion or…chaos perhaps..the agenda is advancing at an ever faster pace.
I’d guess that very soon we’ll see a run on the banks as the masses begin to panic and visit the bank to get their money out quickly.
A run on the bank is the bank’s worst nightmare. However to the Federal bank it’s jackpot time which again is all part of the agenda. Fewer banks with greater control.
Borrowing from the Fed and the bank of England is the order of the day. And the only ay to pay back the ‘loan’ is as we know to create a war in order that more is borrowed to pay back the already outsize debt.
Gordon Brown signed his ‘anti terror’ pact with Pakistan today. America support India in their ‘troubles’..A perfect recipe of funding to both sides if i’m not mistaken.
In order to facilitate the introduction of a ‘global solution’ a ‘global chaos’ must exist.
The agenda has clearly created it’s intended chaos. Now it will sit and wait for ‘the people’ to cry to their governments for the ’solution’.
However we have the solution. It’s in our hands. Our combined conciousness and the willingness to say ‘no’ is all that is needed.
No to the cash free society
No to the RFID chip
No to one world currency
No to one world government
No to war
I could go on but a combined concious NO is all that is needed
I might suggest that all those who wish to say no in peaceful non conformity come together and work in harmony to bring about a new world in which we truly are free.