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Another Deficit Record

Amplifyd from www.google.com
The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year’s record for the full year

The Obama administration is projecting that the deficit for the 2010 budget year will hit an all-time high of $1.56 trillion, surpassing last year’s $1.4 trillion total. The administration is forecasting that the deficit will remain above $1 trillion in 2011, giving the country thrree straight years of $1 trillion-plus deficits.

Through the first five months of this budget year, net interest payments totaled $86.5 billion, up 15.3 percent from a year ago.

Read more at www.google.com
 

WSJ: ObamaCare a Big Con, Full of Budget Gimmicks

The President's bill is 2,000 pages of bureaucratic gobbledygook that can never be paid for and is only being sold through some clever budget gimmicks. I strongly suggest you read Rep. Paul Ryan's telling remarks and the WSJ piece below. How do we pay for a new massive entitlement 1/6th the size of our entire economy when we can not even pay for the entitlement... read more

Amplifyd from online.wsj.com

Mr. Obama’s fiscal assertions are possible only because of the fraudulent accounting and budget gimmicks that Democrats spent months calibrating. Readers can find the gory details in Mr. Ryan’s pre-emptive rebuttal nearby, though one of the most egregious deceptions is that the bill counts 10 years of taxes but only six years of spending.

Read more at online.wsj.com
 

Debt Consequences “Unimaginable”

Politicians will be hard pressed to cut services or benefits because it would be politically unpopular. What will happen is the government will start printing more money to cover its massive debt and spending, and then all the money people managed to put aside for their retirement will be worth only a fraction of what they thought. Over half the federal budget ... read more

Amplifyd from abcnews.go.com

“Within 12 years…the largest item in the federal budget will be interest payments on the national debt,” said former U.S. Comptroller General David Walker. “[They are] payments for which we get nothing.”

But now the problem of mounting national debt is worse than it ever has been before with — potentially dire consequences for taxpayers, according to a report by the nonpartisan Peterson-Pew Commission on Budget Reform.

Economists Predict Cutbacks, Tax Increases That ‘Aren’t Even Imaginable’

Read more at abcnews.go.com
 

Recession Chugs on, Except in Government

among the few sectors of the economy showing net employment growth over the past year is the federal government. The federal civil service is rapidly expanding as Obama increases the size of government, with 33,000 new positions being added in January alone. Only 9,000 of those new slots were for temporary census jobs. In other words, what we are seeing is good times for the public sector and the growing prospect of a continuing and perhaps even deepening recession for everybody else.
the drop to 9.7 percent unemployment does not reflect the creation of new jobs that normally accompanies an economic recovery. The number of new jobs is actually declining.Read more at www.washingtonexaminer.com
 

$6,000 of More Debt for Every American

Amplifyd from www.nytimes.com
The House voted Thursday to allow the government to go $1.9 trillion deeper in debt, an increase of about $6,000 for every United States resident.
The accumulated debt already amounts to roughly $40,000 per person.
The debt increase, approved 217 to 212, is only enough to keep the government afloat for about another year as it borrows more than 40 cents of every dollar it spends.
Thirty-seven Democrats, mostly from Republican-leaning districts, voted against the measure. So did all RepublicansRead more at www.nytimes.com
 

Largest-ever Federal Payroll

The average federal employee now makes $31,000 a year more than the average private sector employee. From a recent USA Today article: “Federal workers are enjoying an extraordinary boom time – in pay and hiring – during a recession that has cost 7.3 million jobs in the private sector.”

Amplifyd from washingtontimes.com

The era of big government has returned with a vengeance, in the form of the largest federal work force in modern history.

Read more at washingtontimes.com