WASHINGTON (MarketWatch) -- The U.S. budget deficit will hit $1.3 trillion in 2010, congressional budget analysts estimated Tuesday, in a fresh piece of grim news for President Barack Obama.
The federal government recorded a staggering deficit of $1.4 trillion in fiscal 2009 -- more than three times as much as in 2008.
Bullshit......
The deficit for fiscal year 2009 was $1,785,603,936,384.00 or nearly $1.8 trillion.
The WH and CBO use the "on-budget" "off- budget" accounting trick that has worked for them for many decades.
The Clintons never had a budget surplus they used surpluses such as the Social Security trust fund to make it look like they were not spending as much.
Bush did it and so is BananaHead.
They use the surplus from programs like SS ....... put it in the income column but don't count the little IOU's (called intra-governmental bonds) they put in it's place in the trust fund. Someday (in a couple of years) when there are more taking out of SS, then putting in, they will need to cash in those IOU's only to find out they ain't worth shit.
It's like taking a $100 from under your mattress and replacing it with a scrap piece of paper with $100 written on it..........where can you use that scrap piece of paper when you need it? Nowhere. You must replace it with a real $100 bill by either working (tax revenue), borrow it (deficit) or don't go out to eat (cut spending).
That's what our gov will have to do someday in order to pay Social Security recipients once more is going out than coming in.
Easy way to find out...... Debt to the Penny
Fiscal year is Oct 1st to Sept 30th
Science fiction writer Ben Bova wrote:The most prescient — and chilling — of all the science fiction stories ever written, though, is “The Marching Morons,” by Cyril M. Kornbluth, first published in 1951. It should be required reading in every school on Earth.
The point that Kornbluth makes is simple, and scary: dumbbells have more children than geniuses. In “The Marching Morons” he carries that idea to its extreme, but logical, conclusion.
Kornbluth tells of a future world that is overrun with dummies: men and women who don’t know anything beyond their own shallow personal interests. They don’t know how their society works, or who is running it. All they care about is their personal — and immediate — gratification.
A comedy with similar reference....Watch the trailer......click me
No comments:
Post a Comment