Record and Near Record U.S. Deficits


Tuesday December 14th, 2010   •   Posted by Craig Eyermann at 8:18am PDT   •  

Uncle Sam, Holding a Dime The Associated Press’ Martin Crutsinger reports:

The federal budget deficit rose to $150.4 billion last month, the largest November imbalance on record.....

The Treasury Department says the November budget deficit was 25 percent higher than the $120.3 billion deficit in November 2009.

Meanwhile, the Congressional Budget Office: offered this comment on the previous fiscal year’s (FY 2010) deficit:

“Relative to the size of the economy, this year’s deficit is expected to be the second-largest shortfall in the past 65 years: At 9.1 percent of gross domestic product (GDP), that deficit will be exceeded only by last year’s deficit of 9.9 percent of GDP.”

HT: Reason’s Peter Suderman. Meanwhile, it appears that thousands of U.S. government officials are skipping on paying their taxes. Via Andrew Malcolm of the LA Times:

Privacy laws prevent release of individual tax delinquents’ names. But we do know that as of the end of 2009, 41 people inside Obama’s very own White House owe the government they’re allegedly running a total of $831,055 in back taxes. That would cover a lot of special chocolate desserts in the White House Mess.

In the House of Representatives, 421 people owe a total $6,524,892. In the Senate, 217 owe $2,774,836. In the IRS’ parent department, Treasury, 1,204 owe $7,670,814. At the Labor Department, where Secretary Hilda Solis’ husband had some back-tax problems before her confirmation, 463 owe $7,481,463. Eighty-one workers for the Federal Reserve System’s board of governors owe $1,076,733.

Over at the Justice Department, which is so busy enforcing other laws and suing Arizona, 1,971 employees still owe $14,350,152 in overdue taxes.

Then, we come to the Department of Homeland Security, which is run by Janet Napolitano, the former governor of Arizona who preferred to call terrorist acts “man-caused disasters.” Homeland Security is keeping all of us safe by ensuring that a Dutch tourist is aboard every inbound international flight to thwart any would-be bomber with explosives in his underpants.

Within that department, there reside 4,856 people who owe the tax agency a whopping total of $37,012,174.

And they’re checking our pockets for metal and coins?

You don’t suppose there might be some sort of connection between all these stories, do you?...




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