U.S. July budget deficit rises to $69B

[UpInArms]

http://cbs.marketwatch.com/news/story.asp?guid=%7B056B6EDA%2DE24B%2D4543%2D839C%2DE8FF523656CE%7D&siteid=mktw

WASHINGTON (CBS.MW) - The U.S. federal deficit widened by 28 percent to $69.2 billion in July from $54.2 billion a year ago, the Treasury Department reported Wednesday.

The deficit was larger than the $66 billion expected by the Congressional Budget Office. Outlays were about $3 billion more than anticipated.

In July, receipts totaled $134.4 billion while outlays totaled $203.6 billion, up from $123.5 billion in receipts and $177.8 billion in spending in July 2003.

<snip>

For all of 2004, the CBO has been expecting a budget deficit of $422 billion, up from $374 billion in 2003. The nonpartisan agency will update its forecast on Sept. 7. Late last month, the White House budget office said it forecast a deficit of $445 billion this year.

...more...

[trotsky]

1. "Reagan showed us that deficits don't matter."

Thanks, Dick!

[indypaul]

6. Deficits may not matter but

the inflation and interest rates caused by them certainly
do. B/T/W they are no longer referred to as deficits but
are now "birth taxes."

[trotsky]

12. "Birth taxes" - that's a good one.

Sure, to rich old white guys like Cheney the deficit is no big deal, they'll never have to pay it off.

[On the Road]

2. Annualized,

69.2 x 12 = $830 Billion over a year.

[sinkingfeeling]

3. Gee, aren't we lucky to have such a conservative admin in power?

[Nambe]

4. I think JFK said the Iraq bill is $200M per month.

I hope the troops are being supported with some of that. KBR grabs allot of it in transit.

[snowFLAKE]

5. Then JFK has his head up his ass

So far, we've been spending that much per day (if not double or triple) - Do the math: 200 billion over 500 days ~ $400 million per day.

[bahrbearian]

7. That we know about,,, Who gets the10% Commission.

[jab105]

8. I think that he said $2 billion per month...

n/t

[PurityOfEssence]

9. Deficits were a higher percentage of GNP under Reagan. THAT'S AN EXCUSE?

Throw it back in their face that Reagan was a horrible president, who left a legacy of monarchy and just plain meanness. As they splutter about "feeling better about being an American", ask them about their healthcare and pension.

[snippy]

11. Since 1960 the federal deficit has exceeded 3% of GDP 14 times.

Every single time it was under a republican president.

http://www.whitehouse.gov/omb/budget/fy2005/sheets/hist01z2.xls

[Yavin4]

10. Hey Come On! Haliburton Has Kids To Feed!

Remember what Tony Soprano said to Johnny Sacks in "The Sopranos" finale: "This is how we put food on our tables for our kids".

[goforit]

13. YeeeeHaw!!!!.........It's the longest three year party I been too!!!

Unbelievable!!!

[David Zephyr]

14. Kick! We've Turned the Corner!

[Demonaut]

15. that corner went vertical...as in down vertical