Thursday, February 10, 2011

January Deficit Grows by $50B, on Pace For $1.5T

 Mubarak Refuses To Step Down..
Note: Guy on Al-Jazeera just now said, he believes this will be the most violent, bloody revolution ever in the history of the world..

Protesters Complain of Torture and Detentions by Mubarak’s Army


WASHINGTON (AP) -- The federal government's budget deficit grew by $50 billion in January and is expected to finish the year as the highest in history.
The Treasury Department said Thursday the deficit was one of the highest ever for the month of January, second only to the $63 billion deficit recorded two years ago. For the first four months of this budget year, the deficit totaled $418.8 billion, 2.7 percent lower than the same period a year ago.
However, this improving trend is expected to reverse in coming months. The Congressional Budget Office is projecting a record deficit of $1.5 trillion this budget year, which ends in September. The estimate was revised upward last month based on a tax-cut package brokered between the White House and Republicans that will add $400 billion to this year's red ink.
More Here..

Federal Reserve To Buy More Air From The Treasury Dept 

Dollar Is Finished: IMF Calls For Dollar Alternative

Ron Paul Says Next US Crash Will Be Comparable To That Of Soviet Union


  1. Buffet ,that great, brave ,American capitalist invests billions in TBTF government guaranteed profits.
    Corporate State Bailouts for the great ponzi economy appear to Buffet be permanent,in an insolvent failed capitalism, he expects more bailouts and gauranteed profit handouts to come if needed by the TBTF.
    Buffet jumped on the gravy train early with the banksters to ensure a free ride at taxpayers expense.
    It has been said after all that Buffet ‘understands risk”

  2. Was there a tax cut?? Really! Or did they simply decide to not increase taxes by letting the Bush tax cuts expire? I think everyone realizes there was no tax cut so therefore there was no $400 billion in red ink as a result of a tax cut that did not happen. The red ink, about $1.5 trillion last year and possibly more this year, is the fault of overspending not undertaxing. Tax cuts don't create red ink spending does.


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