Federal Deficit Grows Like a Pot-bellied Pig, Government Spending in July Hit $160.04 Billion
Posted By Vicki McClure Davidson on August 12, 2010
Team Obama's federal deficit is growing like a pot-bellied pig...
Pot-bellied pigs as pets start out as small and adorable… they appear to be manageable. And then, they grow and their expanding size often exceeds what many owners expected. And pot-bellied pigs have an unrelenting need to seek out food. They will search, hunt, root, beg, and demand — whatever it takes to be constantly well-fed. And they can be quite aggressive about it when denied food.
Much like spendthrift Obama’s “redistribute the wealth, screw free market principles” economy.
Team Obama spent more in a single month than Team Bush did for the entire year of 2007.
No wonder Obama’s key economist Christina Romer quit/was advised to quit. The economy is an utter mess, infighting is going on between members of Obama’s economic team, and Congress and POTUS continue to mislead the American public with distortions and outright lies while overspending the nation and taxpayers and taxpayers’ GRANDCHILDREN into oblivion… and herein the comparison between pot-bellied pigs and Team Obama ends.
Pot-bellied pigs are exceptionally clean, intelligent, loyal, and can be trained to not poop on their owners or in their owners’ homes.
Wish the same could be said about Team Obama.
From Wall Street Journal, Deficit in July Totals $165.04 Billion:
The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.
Federal spending eclipsed revenue for the 22nd straight time, the Treasury Department said Wednesday. The $165.04 billion deficit, while a bit smaller than the $169.5 billion shortfall expected by economists polled by Dow Jones Newswires, was the second highest for the month on record. The highest was $180.68 billion in July 2009.
The government usually runs a deficit during July, which is the 10th month of the fiscal year. So far in fiscal 2010, the government spent $1.169 trillion more than it made. That figure is about $98 billion lower than during the comparable period a year earlier.
For all of fiscal 2009, the U.S. ran a record $1.42 trillion deficit. Fiscal 2010 might run a little higher—the Obama administration sees $1.47 trillion.
Wednesday’s monthly Treasury statement said U.S. government revenues in July totaled $155.55 billion, compared with $151.48 billion in July 2009.
Spending was higher, totaling $320.59 billion. July 2009 spending amounted to $332.16 billion.
Year-to-date revenues were $1.75 trillion, compared with $1.74 trillion in the first 10 months of fiscal 2009. Spending so far in this fiscal year is $2.92 trillion, versus $3.01 trillion in the prior period.
Spending for benefits for the unemployed year to date totaled $121.4 billion; for July, the tab was $9.8 billion, the Treasury statement said.
From Gateway Pundit, Obama July Deficit of $167 Billion Tops Bush Deficit For Entire Year of 2007:
Once again, the facts…
THE TRUTH – TAX CUTS GROW THE ECONOMY.
During the Bush years, despite the 2000 Recession, the attacks on 9-11, the stock market scandals, Hurricane Katrina, and wars in Iraq and Afghanistan, the Bush Administration was able to reduce the budget deficit from 412 billion dollars in 2004 to 162 billion dollars in 2007, a sixty percent drop.
In 2004 the federal budget deficit was 412 billion dollars. In 2005 it dropped to 318 billion dollars. In 2006 the deficit dipped to 248 billion dollars. And, in 2007 it fell below 200 billion to 162 billion dollars. During the Bush years the average unemployment rate was 5.2 percent, the economy saw the strongest productivity growth in four decades and there was robust GDP growth.
After an unheard of record deficit last year of $1.4 Trillion the economy is on track to experience a $1.47 Trillion deficit this year.
1 Trillion Dollars Visualised
And the Obama family is about to go on another vacation. Just a reminder to Americans…
Additional related reading:
Another Black Conservative: Washington adds another $165 billion to deficit in July alone
Frugal Café Blog Zone: More Bleak “Hopenchange”… Record-Breaking: More Than 780,000 Families in Illinois Receiving Food Stamps and Obama & Reid, Two of a Kind: Responsible for Nevada’s Broken, Decimated Economy, Highest Rate of Home Foreclosures in Nation, Angle Slams Reid (video) and Bad News: Police Layoffs of Up to 30 Percent for East St. Louis… Blame It on Obama’s Terrible Economy and More Bad News for Dems: 75% of Americans Say Free Market Principles Better Than Government Manipulation & Interference… Obama’s Approval Index Drops to -19 and Rasmussen’s Prez Approval Index for Obama… Déjà Vu at Dismal Minus 17, Unemployment Improves Only Because Americans Have Lost Hope, Stopped Looking for Work and “Duh” Files: Obama’s Approval Drops Like a Metamorphic Rock in Arizona… Disapproval of POTUS Worsening on Economy, Illegal Immigration, Job Markets and Oops: VP Biden’s Campaign Owes Treasury $219,000 Due to “Sloppy Bookkeeping” & Excessive Contributions… Biden’s Still in Charge of Watchdogging Wasteful Stimulus Program and “Skin in the Game” Barack-Style– First Family’s Dog Bo Flies to Obamas’ Maine Vacation on a Separate Jet and Oh, Joy! Cocaine Addicts Studying Chinese Meditation, Team Obama Hands Over $410,625 of Tax Payers’ Money to Make It Happen and Clowns in DC: Team Obama Messes Up Unemployment Payments Again… Overpayments Have Doubled Since Last Year’s Overpayments and Stimulus Waste: Millions of Taxpayer Dollars Spent on Signs by Democrats, Team Obama (video) and Limbaugh Transcript: Obama Claims He Inherited “Decade of Economic Uncertainty”… What Decade Is POTUS Talking About? and Bloom off the Liberal Elitist Rose: Mort Zuckerman Clobbers Obama, Even Barbra Streisand Against POTUS on His Deficit Spending Disaster (video) and Outrageous: Congress Deemed $1.1 TRILLION Budget “As Passed” – Sneaked in Increased Spending Before 4th of July Weekend
Radio Vice Online: Bush vs Obama: The deficit and Congressman Cummings asks the rich to help him out of the mess the Dems created
Freedom’s Lighthouse: One Year After Obama Said “We’re Pointed in the Right Direction,” Unemployment is Higher – Video
Gateway Pundit: Best Ad of the Year… Ben Quayle on O’Reilly Factor Calls Barack Obama “Worst President Ever” (Video) and As Michelle Returns From Spanish Extravaganza Obama Cuts Food Stamps to Nation’s Poor and IT’S OFFICIAL: Barack Obama Is Worst Jobs President Since Great Depression and After US Economy Loses Another 125,000 Jobs Obama Says: “We’re Heading in the Right Direction” (Video) and Custard Store Owner: Biden Went Off On Me, I Was Shocked and Biden Admits Obama Administration Won’t Be Able to Create Lost Jobs and Private Sector Lost Nearly 10 Million Jobs in Last 3 Years – Public Sector Gained 720,000 and Republican Sandoval Leads Rory What’s-His-Name By 18% In Nevada Governor’s Race and Rep Paul Ryan: By Every Objective Measure The Stimulus Has Failed (Video) and Radical Far Left Dem Jan Schakowsky Says Public Option Will Reduce Deficit and DISASTER CONTINUES: Obama Administration Will Break Their Record 2009 Budget Deficit and Unreal. Obama Touts “Enormous Progress” Urges Reporters to Focus on Broken Economy and Glenn Beck Discusses Blatant Dishonesty at Far Left Website Think Progress and Obama Continues to Lie About Jobs; Says “I Expect to Be Held Accountable” (Video) and Thanks Barack. US Economy May Not Recover For 5 or 6 Years and Figures. Obama Praises Electric Vehicle Manufacturer That Makes Trucks That Cost Twice as Much as Normal Truck and As Dem Policies Continue to Fail Miserably – November Thumpin Looks More Likely and White House Announces Unemployment Will Remain High For Rest of Year (Video) …Update: National Debt Up $2 Trillion Under Obama and Top White House Official Admits Jobs Picture “Still Terrible” …Update: Obama Disappointed His Economic Plan Is a Failure
The Daily Beast: Top Obama Adviser Romer Quits
Politics Daily: Christina Romer Quits Council of Economic Advisers; Sources Cite ‘Frustration’
Lynn Sweet, Chicago Sun-Times: Christina Romer, Obama top economic adviser quits; infighting to blame?
Camp of the Saints: Rally ‘Round The Flag: Message From A Friend
Goodtimepolitics: North Carolina June 2010 Unemployment Numbers Not Good
Motor City Times: Freep Op-Ed Advocates Higher Energy Costs For Everyone Except Low Income Households
Nice Deb: The Summer of Our Discontent
Ace of Spades HQ: Obama Two Points Higher Than 39%
Telegraph: With the US trapped in depression, this really is starting to feel like 1932
Radio Vice Online: Even the Constitution Can’t Stop the Democrats – UPDATE: SOS weighs in on 13th amendment
The Daley Gator: Obama: We MUST extend unemployment benefits so that drug addicts and criminals can keep getting paid!
Doug Powers, Michelle Malkin: CBS Reports Obama’s Unemployment Benefits Flip-Flop
FOX News: East St. Louis To Lay-Off Nearly 1/3 Of Police Force
About the author
Romer, and now Ed Whittaker, ex CEO of AT&T has quit GM, according to Rush today.
I surmise these CEOs don’t like to be bullied.
BTW Vicki, saw your input on Sarah over on czars, and I agree with you wholeheartedly.
Be safe, be well, BCNU.
Thanks for the updated info on Whittaker… I’ve fallen behind on my Team Obama economic soap opera news. If you don’t stay on top if it, whoosh! Another one bites the dust.
OK, my ignorance showing here, AFVET – is BCNU meant to be “be seein’ you” or something else altogether? Another new expensive and expansive government department of Dear Leader’s, perhaps? I’m thinking it could be the “Bureau of Concealing News Universally”?
Hee hee…
My Patriotic Friend,…….
BCNU means just how it sounds……. A bit of history here.
When I was in the service, we didn’t have screens to display what we typed.
Therefore, we had to use abbreviations to eliminate excess typing, the same way teens use minimal characters today. WOW !
Everyone on our circuits knew what the letters meant.
BCNU only means that I will be back.
Be see’in you is correct.
Any other nefarious connotations should be disallowed.