WASHINGTON — The federal budget deficit rose to $150.4 billion last month, the largest November imbalance on record.
And the government's deficits are set to climb higher if Congress passes a tax-cut plan estimated to cost $855 billion over two years.
The Treasury Department says the November budget deficit was 25 percent higher than the $120.3 billion deficit in November 2009.
Some of the jump, though, was due to a quirk of the calendar determining when benefit checks are mailed.
The problem is not the current deal without the sweeteners; economists say both the tax cuts and jobless benefits will produce jobs over the next 2 years. The problem is that the politicians don't have the moxy to say after two years CUT spending and yes rich guy, your taxes are going up 3-4%.
ReplyDeleteSTOP SPENDING MONEY!!!!!!!
ReplyDeleteStop giving breaks to the rich!
ReplyDelete