The Obomination of our Economy

The Treasury Department announced that the federal government spent more than it took in for a tenth straight month in July, nearing a record set in 1991-92, when we saw 11 consecutive string of monthly budget deficits. July added $180.7 billion in red ink (a $2.1 trillion annual rate), which is close to the all-time monthly record of $193.86 billion set back in February.

For the first 10 months of fiscal 2009, the budget deficit widened to $1.267 trillion, more than triple the $388.6 billion for the first 10 months of fiscal 2008. Also in July 2009, government (federal) spending rose 26.2% to $332.18 billion. Year to date, spending is up 21.4% $3 trillion.

On the income side, federal government’s tax revenues declined 16.7% to $1.74 trillion compared with $2.09 trillion for the same period in fiscal 2008. During the same 10-month period, personal income-tax receipts fell by 20.5%, while corporate taxes declined a huge 57.7% to $104.5 billion.

AND THIS IS WITHOUT:
--tax increases [yet] -- biggest increase in history occurs in 2011
--cap and trade pushing up electric and energy bills 25% ?
--federal take over of health care industry and promising everyone everything
--Islamic terrorism hitting U.S. again

GET YOUR SAFETY SHELTER READY.... THINGS ARE GETTING BAD BAD BAD
Submitted by Steve Sass