Monday, Jul 13, 2009
Try Beating That, Brown!
BBC: US budget deficit at $1 trillion
"The US budget deficit has moved above $1 trillion (£616bn) for the first time - with three months of the financial year remaining, official data shows.The government stepped up spending to counter the recession, and the bailout of financial institutions has taken a huge chunk out of government finances". "These are mind boggling numbers," said Sung Won Sohn, an economist at the Smith School of Business at California State University. "Our foreign investors from China and elsewhere are starting to have concerns about not only the value of the dollar but how safe their investments will be in the long run!" (Fancy that!)
Posted by alan @ 10:09 PM (347 views) Add Comment
2 Comments
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1. mr g said...
I'm sure Crash would like to waste that amount of money.
2. robh said...
@mr g
I don't think its fair to accuse the prime minister of 'deliberately' wanting to waste money. It's more of an attempt at keeping things working after the financial sector stole all the wealth. Just look at the relative financial position of 90% of the population to 20 years ago and spot where the pies have gone