Friday, December 10, 2010

New Record for Deficits

Meanwhile, the U.S. treasury just announced that the Federal deficit for November was $150 billion. That's $1.8 trillion for the year if sustained.
An article on the website of the Wall Street Journal indicated that for the first two months of this fiscal year, the U.S. government has borrowed 49.65% of every dollar it has spent. Amazing! Who would have ever imagined that we are borrowing half of every dollar we're spending.