US government borrowing 50 cents for every dollar it spends

[ericire12]

http://hotair.com/archives/2009/05/11/cbo-2009-deficit-50-greater-than-expected/

CBO: 2009 deficit 50% greater than expected


    The director of the Congressional Budget Office today updated his projections for the budget and economic outlook and is now anticipating a $1.8 trillion deficit this year, and $1.4 trillion in 2010.

    This is up from CBO director Douglas W. Elmendorf’s January 2009 projection of a $1.2 trillion deficit this year. In short, the US government is borrowing 50 cents for every dollar it spends.

    The new projected deficit is four times the 2008 deficit, which was a record high for its time.

The result, according to the CBO, would be an ever-expanding national debt that would exceed 82 percent of the overall economy by 2019 — double last year’s level — and threaten the nation’s financial stability.

[1911 Junkie]

"The result, according to the CBO, would be an ever-expanding national debt that would exceed 82 percent of the overall economy by 2019 — double last year’s level — and threaten the nation’s financial stability."


And yet they do it anyway.
I need to talk to my bank and see if they'll let me spend my way out debt.


Sometimes I wish it would all just collapse so we can start over.

[tt11758]

Sometimes I wish it would all just collapse so we can start over.

You may well get your wish.

[runstowin]

You may well get your wish.

This is the early part of a collapse, and it won't be pretty.

[tombogan03884]

This is the early part of a collapse, and it won't be pretty.

Neither is surgery, or taking a shit, but you have to do what you have to do.

[Sponsor]