No matter what side of the political fence you are on, if this doesn’t make you angry at our elected officials, nothing will.
WASHINGTON — The Treasury said the U.S. ran its biggest budget deficit since World War II, a record that promises to complicate Democrats’ efforts to enact their agenda.
The Treasury Department reported that the deficit for the 2009 fiscal year ended Sept. 30 came in at about $1.4 trillion, or about 10% of the U.S.’s gross domestic product.
From health care to economic recovery to the Afghanistan war, the government’s gloomy fiscal condition is constraining Democrats. Deficits also are looming large as a political issue in the 2010 campaign, as voters fret about the long-term consequences of mounting debt.
“I don’t think I’ve seen this level of concern since 1992, when Ross Perot said we need to look under the hood and fix the engine,” House Majority Leader Steny Hoyer of Maryland said in an interview Friday. “Government, individuals and businesses are all looking at their debt loads and recalculating.”
The Treasury said government receipts were down 16.6% in 2009, to $2.1 trillion, a result of the recession and stimulus tax breaks. Outlays rose more than 18% to $3.5 trillion, including $113 billion of stimulus outlays.
Read the complete article here at WSJ
Here’s another graph of interest:
Tell your elected officials to cut up the credit cards and act responsibily.
