The federal government's budget deficit was over $1,000,000,000 dollars for year 2010.
That's over one trillion dollars.
This year's budget deficit is only slightly behind last year's budget deficit of 1.4 trillion dollars. The deficit is 2009 was the highest on record.
The Obama administration projects that the deficit for 2011 will be about 1.4 trillion dollars.
On the job front----well, not so good. Initial jobless claims continue to rise. Joblessness rates, according to the government's calculations, remains a dismal 9.6%. America lost almost 100,000 jobs in September.
This is the longest spell of unemployment over 9.5% since these records began to be kept in 1948.
Underemployment is an outstanding 18.8 percent.
The number of Food Stamp recipients is at an all-time high.
Americans are spending less of their income. Spending is down 2.8%--this is the first decrease in spending on record.
The dollar is falling against other world currencies.
During the last two years, the federal government has added more than 30 percent of the national debt, which is currently over 90% of our GDP.
Next year, the debt will exceed 100 % of our GDP.
From Reuters, "President Barack Obama on Monday said the United States was facing an "untenable fiscal situation" and would have to get serious about tackling its federal deficit."
I would agree! http://uk.reuters.com/article/idUKTRE6934PV20101004
http://www.americanthinker.com/2010/10/on_the_right_track.html
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