Slouching Towards Oblivion

Wednesday, November 14, 2018

Today's GOP

Hey, Repubs - we're really tired of working our ass off trying to get things squared away just to watch you guys come in and fuck it all up.

Pack your shit and get the fuck outa my government.

Sarah McGregor, Bloomberg:

The U.S. recorded a $100.5 billion budget deficit in October, an increase of about 60 percent from a year earlier, as spending grew twice as fast as revenue.

The deficit widened from $63.2 billion in the same month last year, the department said in an emailed statement on Tuesday. October marks the start of the U.S. fiscal year.

Receipts totaled $252.7 billion last month, up 7 percent from a year earlier, while outlays climbed 18 percent to $353.2 billion, according to the department.

A ballooning U.S. budget shortfall -- fueled by tax cuts, spending hikes and an aging population -- is driving the Treasury Department to raise its long-term debt issuance. Waning support for U.S. government debt from the Fed, combined with President Donald Trump’s deficit-boosting tax cuts, are weighing on the debt load that he inherited from Barack Obama.

In Trump’s first full fiscal year that ended in September, the budget gap grew to $779 billion, the highest level since 2012.



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