US Government Spent $165.04 Billion in July 2010 … Trade Gap Widens

 

Welcome to the Obama economy …

ARE YOU SERIOUS!!! The U.S. government just spent  $169.5 billion, the second highest for the month on record. Oh but wait, the economic news gets even worse in the Obama economy … The trade gap widened 19% from a month earlier as Imports Jump, Exports Sag in Sign U.S. Upturn Is Slowing; Demand Rises for Foreign-Made Autos, Electronics Goods.

The U.S. government spent itself deeper into the red last month, paying nearly $20 billion in interest on debt and an additional $9.8 billion to help unemployed Americans.

Federal spending eclipsed revenue for the 22nd straight time, the Treasury Department said Wednesday. The $165.04 billion deficit, while a bit smaller than the $169.5 billion shortfall expected by economists polled by Dow Jones Newswires, was the second highest for the month on record. The highest was $180.68 billion in July 2009.

The government usually runs a deficit during July, which is the 10th month of the fiscal year. So far in fiscal 2010, the government spent $1.169 trillion more than it made. That figure is about $98 billion lower than during the comparable period a year earlier.

Years of deficit spending by Washington have led to a mounting national debt. Interest payments so far in fiscal 2010 amount to $185.25 billion; by contrast, corporate taxes collected by the government during the same 10 months were $139.71 billion. Interest payments in July alone were $19.9 billion.



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  • Comments

    5 Responses to “US Government Spent $165.04 Billion in July 2010 … Trade Gap Widens”

    1. rightknight on August 12th, 2010 12:15 am

      This bunch of fools knows how to spend our
      money quickly on who knows what, and to
      print what they don’t qualify to borrow. The
      major malfunction is that they don’t know
      how to build an economy at all! I think it’s
      on purpose.

    2. Tweets that mention US Government Spent $165.04 Billion in July 2010 … Trade Gap Widens | Scared Monkeys -- Topsy.com on August 12th, 2010 1:52 am

      [...] This post was mentioned on Twitter by Liz , ScaredMonkeys. ScaredMonkeys said: Blog – US Government Spent $165.04 Billion in July 2010 … Trade Gap Widens: Welcome to the Obama economy … ARE YOU… http://bit.ly/cbo0lk [...]

    3. Dolf on August 12th, 2010 8:36 am

      maybe if there were more quality products comming out of the states……………

    4. A Texas Grandfather on August 13th, 2010 11:26 am

      When the government realizes(this administrantion will not)that we need to re-energize our manufacturing sector and our energy sector by making our business taxes,rules and regulations less intrusive, we will stop having trade deficits.

    5. Dolf on August 14th, 2010 7:24 am

      re-energize???

      re-build.

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