Jump to content


Photo
- - - - -

Us Posts Biggest March Budget Deficit In History


  • Please log in to reply
5 replies to this topic

#1 interestrateripoff

interestrateripoff

    Carry on banking.....

  • Members
  • PipPipPipPipPipPipPip
  • 49,055 posts
  • Location:Ponzi Land

Posted 11 April 2012 - 08:09 PM

http://www.zerohedge...rt-became-chart

Following the all time record high February budget deficit of $232 billion, the US March budget deficit number is in, and in addition to being bigger than expected, coming at $198.2 billion on expectations of "only" $196 billion, the government outlay in the past month also is the largest March deficit on record. This brings the total deficit in fiscal 2012 to $779 billion, which is to be expected for a country gripped in total political chaos and which is unable to either raise revenues or lower spending. What is more disturbing is that over the same period (Oct 1 2011 - March 31, 2012), the US government issued $792 billion in debt, a trend that will continue. What is most disturbing is that the comparable tax revenues net of refunds, "matching" this increase in deficit and spending, are only $693 billion, in other words the US government is funding well more than half of its cash needs with debt rather than with tax revenue. Just like Japan.


Another record for the greatest ever recovery.

Clearly the US govt is doing it's bit to drive forward the debt led recovery.

Proof that Brown had repeated IMF / OECD / BIS warnings over house prices and did nothing!!!
Looting: The Economic Underworld Of Bankruptcy For Profit
The exponential growth of debt and the unsustainability of debt
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years
Paying down my mortgage with money found on the street

It's time to sue the Bank of England / Federal Reserve for GROSS NEGLIGENCE
If DEBT is the problem REPAYMENT is the solution or you default

 

"The trouble with the world was that prices were so low that only the rich people could buy and the aim of the Conference was to raise them to a point where it would again be possible for poor people to buy something."

"Northern unemployment is an acceptable price to pay for curbing southern inflation" Eddie George former Governor of the Bank of England

New digest on the credit crisis and economy Part2 Part 3

smaller.jpg


#2 Voice of Reason

Voice of Reason

    HPC Veteran

  • Members
  • PipPipPipPip
  • 1,911 posts

Posted 11 April 2012 - 09:30 PM

Meanwhile on Bloomberg:

Fed Says Economy Grew at 'Modest to Moderate' Pace in March

Inflation was “modest,” the report said, and “upward pressure on wages was constrained.”

“While the near-term outlook for household spending was encouraging, contacts in several districts expressed concerns that rising gas prices could limit discretionary spending in the months to come,”...


It's all fine. No financial meltdown to see here...

Edit - quotes

Edited by Voice of Reason, 11 April 2012 - 09:31 PM.

-----------------------------------------------------------------------------------------------------------------------------------------------------------

#3 easy2012

easy2012

    HPC Senior Veteran

  • New Members
  • PipPipPipPipPip
  • 3,719 posts

Posted 11 April 2012 - 09:35 PM

http://www.zerohedge...rt-became-chart



Another record for the greatest ever recovery.

Clearly the US govt is doing it's bit to drive forward the debt led recovery.



Election year...

#4 mightytharg

mightytharg

    HPC Veteran

  • Members
  • PipPipPipPip
  • 1,324 posts

Posted 11 April 2012 - 11:06 PM

Election year...


Unless it's also the only Election year in history, that isn't much of an explanation.

#5 TheCountOfNowhere

TheCountOfNowhere

    I live on HPC!

  • Members
  • PipPipPipPipPipPipPip
  • 13,923 posts
  • Location:Nowhere

Posted 12 April 2012 - 07:08 AM

I have a funny feeling the FTSE might be down by the end of today.....

#6 fluffy666

fluffy666

    I live on HPC!

  • Members
  • PipPipPipPipPipPipPip
  • 10,187 posts
  • Location:Bath-ish

Posted 12 April 2012 - 07:31 AM

Unless it's also the only Election year in history, that isn't much of an explanation.


Hmmm.. The US has elections every 2 years (Presidential/Midterm). Campaigning goes on for at least a year. Economic policy takes at least a year to have full effect.

Think you may be on to something here..




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users