In the wake of unprecedented spending by the Obama Administration and a failed economic stimulus package, the U.S. budget deficit has topped $1 trillion for the first time in history.
Nine months into the fiscal year, the federal deficit has topped $1 trillion for the first time.
The imbalance is intensifying fears about higher interest rates and inflation, and already pressuring the value of the dollar. There’s also concern about trying to reverse the deficit — by reducing government spending or raising taxes — in the midst of a harsh recession.
The Treasury Department said Monday that the deficit in June totaled $94.3 billion, pushing the total since the budget year started in October to nearly $1.1 trillion.
So this is the hope and change the American people voted for? This recklessness must stop before it is too late — if it isn’t already. Foreign investors are going realize that the U.S. economy is worthless as this kind of spending continues, contributing to our economic collapse.
It is time for R3VOLUTION!Published in