Federal Deficit — Jeffrey A. Setaro

Tax Revenues Continue to Plunge

August 3, 2009 By Jeff Leave a Comment

From the Associated Press: The recession is starving the government of tax revenue, just as the president and Congress are piling a major expansion of health care and other programs on the nation’s plate and struggling to find money to pay the tab. The numbers could hardly be more stark: Tax receipts are on pace [...]

Filed Under: Economy, Politics Tagged With: Federal Deficit, Health Care Reform, Obama Administration, Tax Revenue

Bernanke’s Deficit Warning

June 4, 2009 By Jeff Leave a Comment

There’s been a fair bit of buzz about Federal Reserve Chairman Ben Bernanke’s remarks about the need for deficit reduction during his testimony before Congress yesterday. Many commentators are interpreting Chairman Bernanke’s as bad news for Obamanomics and are arguing that deficit fears will force him to scale back his spending agenda. I disagree. I [...]

Filed Under: Economy, Politics Tagged With: Barack Obama, Ben Bernanke, Federal Deficit, Federal Reserve, Taxes

Barack Obama On The Deficit: I Didn’t Do It…

April 30, 2009 By Jeff Leave a Comment

Barack Obama’s ‘It wasn’t me’ protestations about the ballooning federal deficit are so patently false even the Associated Press is calling him on it: WASHINGTON (AP) – “That wasn’t me,” President Barack Obama said on his 100th day in office, disclaiming responsibility for the huge budget deficit waiting for him on Day One. It actually [...]

Filed Under: Economy, Politics Tagged With: Barack Obama, Democrats, Federal Deficit

Figures on Government Spending and Debt

April 18, 2009 By Jeff Leave a Comment

FYI: Total public debt subject to limit April 16 11,125,587 Statutory debt limit 12,104,000 Total public debt outstanding April 16 11,183,899 Operating balance April 16 257,351 Interest fiscal year 2009 thru February 148,762 Interest same period 2008 198,518 Deficit fiscal year 2009 thru February 764,525 Deficit same period 2008 264,541 Receipts fiscal year 2009 thru [...]

Filed Under: Economy, Politics Tagged With: Federal Deficit, Federal Spending

Federal Obligations Exceed World GDP???

February 15, 2009 By Jeff Leave a Comment

I tend to be skeptical of articles like this one from World Net Daily: Federal obligations exceed world GDP Does $65.5 trillion terrify anyone yet? By Jerome R. Corsi, February 13, 2009, WorldNetDaily As the Obama administration pushes through Congress its $800 billion deficit-spending economic stimulus plan, the American public is largely unaware that the [...]