9 Dec

Federal Government Now Borrows 46 Cents of Every Dollar It Spends

Doug Ross:

Is there a single Democrat with virtue who will decry this madness? Is there a single Democrat who will condemn this unfolding economic catastrophe?

The federal government borrowed 46 cents of every dollar it has spent so far in fiscal 2013, which began Oct. 1, according to the latest data the Congressional Budget Office released Friday.

The government notched a $172 billion deficit in November, and is already nearly $300 billion in the hole through the first two months of fiscal year 2013, underscoring just how deep the government’s budget problems are as lawmakers try to negotiate a year-end deal to avoid a budgetary “fiscal cliff.”

Higher spending on mandatory items such as Social Security, Medicare and interest on the debt led the way in boosting spending compared with the previous year, which also highlights the trouble spots Congress and President Obama are struggling to grapple with.

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About Curt

Curt served in the Marine Corps for four years and has been a law enforcement officer in Los Angeles for the last 24 years.

One Response to Federal Government Now Borrows 46 Cents of Every Dollar It Spends

  1. Nan G says: 1

    There is an old proverb: the borrower is the slave of the lender.
    In our case China is the lender.
    Drudge has these headlines up:
    CHINA GOES SHOPPING IN USA
    http://www.bloomberg.com/news/2012-12-10/chinese-investors-buy-80-of-aig-plane-unit-for-4-23-billion.html
    Largest ever acquisition ‘to be submitted for national security review’…
    http://in.reuters.com/article/2012/12/10/aig-ilfc-cfius-idINL1E8NA03G20121210
    Own $7 Billion in U.S. Housing Market…
    http://www.foxnews.com/us/2012/11/27/chinese-buyers-lead-foreign-investment-in-us-housing-market/
    Buy up Obama’s solar darling…
    http://www.ft.com/intl/cms/s/0/f5d46552-4225-11e2-979e-00144feabdc0.html

    A Chinese female bought one condo in our complex about two years ago.
    She has some weird mental disorder.
    She thinks ”electro magnetic vibrations” are under the floor of her place (actually it is simply the cold, hard ground.)
    She accuses other owners and residents of colluding together to rob her of sleep.
    Like the two lesbians going over to a single guys house in the middle of the night to play wii and jump up and down all night…..except when you are around to see ….then they quiet down like mice.
    I don’t know if all Chinese people are as weird as this one, but she is CRAZY!
    Now, in China, you might be able to complain against someone and have the authorities take that person away, but not here.
    The LBPD actually told her to stop calling them.
    But she is rich.
    She claims she owns about 8 city blocks in some city in China.
    Too bad she’s not comfortable living in any of them.

    ReplyReply

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