Government Ran up $130 Billion Deficit in 2004

[NNN0LHI]

http://story.news.yahoo.com/news?tmpl=story&cid=542&ncid=703&e=2&u=/ap/20040212/ap_on_go_ca_st_pe/federal_deficit

WASHINGTON - The government produced a deficit of $130.1 billion for the first four months of the 2004 budget year, which was one-third more red ink than for the same period the previous year.



The figures released Thursday by the Treasury Department (news - web sites) highlighted the worsening state of the government's balance sheets.


The White House expects the deficit this budget year to balloon to $521 billion, a record in dollar terms.


Federal Reserve (news - web sites) Chairman Alan Greenspan (news - web sites), in appearances on Capitol Hill this week, warned that growing federal deficits could threaten the economy's progress. He urged lawmakers to reinstate budget rules to get the deficits under control.

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[ixion]

1. and this from the 'fiscal responsibility' party

give me a break. These thugs won't be happy until they've looted every last penny.

[Tim4319]

2. What makes this so strange.....

This administration is headed by a bunch of CEO and corporate executives. Where is the business sense?

[CreekDog]

3. CEO's and Business Executives Making Bad Decisions?

Oh my gosh, never in a million years would I believe such a thing!

;o)

[UpInArms]

4. remember that a corporation

has only to "make a profit" - the US Government is not a corporation - so these thieves decided that they would "make money" for their friends - and those corporations -

that was the only way they could figure that something "made a profit".

:nuke:

[0rganism]

5. This is exactly what I'd expect from today's CEOs

All they have to do is keep the current shareholders happy. Screw the company's long term health, they can bail out long before the bills come due.

[ixion]

9. Yeah, failed CEO's

except for Welch, who is a creep. Bush ran every company he ever ceo'd right into the ground.

Just like he's doing to the US.

[teryang]

6. Their running the country like its Enron

...Global crossing, Worldcom or Harken. Milk it for all you can get with debt instruments, then bail out. They are criminals.

[54anickel]

7. Ten Tr-r-r-rillion by 2014...

You really need to roll the tongue on that "r" to get the proper effect.

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=114&topic_id=5725

[tom_paine]

8. If the Imperials say $521 billion, then LOOK OUT

Because it's actually $750 billion!

[salin]

10. Prediction: Bush's response... we need more tax cuts!