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AP: Budget Deficit Twice as Big as Last Year's

Washington, Jun 22 -

“The AP reports that the budget deficit is about to double while under the new Democrat control. It’s no surprise. The spending is at a break-neck speed, the Democrats have violated their own pay-go rules repeatedly, and the economy slumps because Democrats refuse to allow new energy exploration offshore. The deficit is expected to be at +$400B by years end and the Democrat’s pledge to be the fiscally responsible party is now a long faded memory,” said Rep. Weldon.



Associated Press - “The Treasury Department says the federal deficit swelled to $268.7 billion in the first nine months of this budget year as record spending outpaced revenue.



The department's look at the government's balance sheets, released yesterday, shows that the deficit for the budget year that began Oct. 1 was up sharply from the deficit of nearly $121 billion for the corresponding period last year.



The new year-to-date deficit of $268.7 billion was the third-highest on record.”



By Jeannine Aversa

Saturday, July 12, 2008