Posted by: arnegrim | June 18, 2009

Federal Deficit

A lot has been said of how Obama inherited a massive debt burden… of how his plans will balloon that deficit and his plan to cut his ‘inherited’ deficit in half by the time he leaves office…

Let’s take a look…

Remember… Obama took office on January 20th of 2009

From the Congressional Budget Office website…

CBO’s mandate is to provide the Congress with:

  • Objective, nonpartisan, and timely analyses to aid in economic and budgetary decisions on the wide array of programs covered by the federal budget and
  • The information and estimates required for the Congressional budget process.”

http://www.cbo.gov/aboutcbo/

Ok… now onto some actual figures…

January’s report

“CBO estimates that the Treasury Department will report a federal budget deficit of $485 billion for the first quarter of fiscal year 2009, $378 billion higher than in the same period last year.”

http://www.cbo.gov/ftpdocs/99xx/doc9959/01-2009-MBR.htm

February’s report

“CBO estimates that the Treasury Department will report a deficit of $563 billion for the first four months of fiscal year 2009, $474 billion higher than the deficit incurred through January 2008.”

http://www.cbo.gov/ftpdocs/99xx/doc9978/02-05-mbr.htm

March’s report

“CBO estimates that the Treasury Department will report a deficit of about $953 billion for the first six months of fiscal year 2009, $640 billion more than the deficit recorded through March 2008”

http://www.cbo.gov/ftpdocs/100xx/doc10069/04-06-mbr.htm

April’s report

“The federal government incurred a deficit of close to $800 billion for the first seven months of fiscal year 2009, CBO estimates—$646 billion more than the deficit recorded through April 2008”

http://www.cbo.gov/ftpdocs/101xx/doc10114/05-2009-MBR.htm

May’s report

“The federal government incurred a deficit of close to $800 billion for the first seven months of fiscal year 2009, CBO estimates—$646 billion more than the deficit recorded through April 2008.”

http://www.cbo.gov/ftpdocs/102xx/doc10259/06-04-mbr.htm

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: