The End of FY09, A Scorecard
Yesterday marked the last day of Fiscal Year 2009. I think it is prudent to take a look back at this year in federal spending…
According to CBO, the federal government ran a $1.4 trillion deficit through the first 11 months of FY 2009. Revenues are down, expenditures are up, and the federal government will borrow 43 cents for every dollar it spends in FY 2009.
The national debt now stands at $11.77 trillion, a 35.8% increase since Democrats took control of Congress in 2007. To provide a frame of reference, this 33 month period has racked up more debt than the total debt accumulated by the federal government from 1789 to1989….In FY 2009 alone, the federal government ran up $1.75 trillion of debt.
Since the non-stimulating stimulus package became law, Speaker Pelosi, Harry Reid, and President Obama have not curbed their spending habits. There is no question that Republicans foolishly abandoned their fiscal conservative roots during the past 8 years, but since taking over Congress, Democrats have turned a projected ten-year $800 billion surplus into a projected deficit of $7.8 trillion over the same period of time. For you bean counters out there, that is an $8.6 trillion deterioration of the nation’s budget outlook in the 33 months since Democrats took control of Congress.
These numbers are staggering…they speak for themselves.
