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September Budget Defcit Comes At ($34.5) Billion, Misses Expectation Of ($32) Billion
The September budget deficit came at ($34.5) Billion, missing expectation of $32 billion, lower from September 2009 which was revised ($46.6) billion (which was revised worse as usual). Total September receipts were $245 billion, on $280 billion of outlays. Both numbers were an increase compared to 2009. Also, last month the US paid $18.2 billion in interest on its debt, of which an increasingly greater portion is now going to none other than the Federal Reserve which will soon be the biggest holder of USTs in the world.
Deficit monthly:
And revenues and outlays summary:
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I just got a MEGA tip.
Buy insurers that fell down because they had to pay up to the banks that where insured against foreclosures!!
They'll sue the banks and rise to the moon!
You just broke 10 or so laws and regulations. Nice. Dont trade on that info though, or else you might get, oh, 20 or so years behind bars. You are not Warren Buffett my friend.
"You just broke 10 or so laws and regulations." That means SD is now elligible for public office.
could be disinformation psy-ops
No surprises here. This deficit will increase going forward.
As a previous ZH article posits, treasury issuance will continue to run at 50% above the "claimed" deficit/budget. And, rates will hold/rise, because they can no longer flatten. The short-term roll is unprecedentedly large, and about to get larger.
Do you have Sept. figures on the amount rolled?
Thanks.
There are quite a few summaries googling "US debt rolled September", but many are to sites that sell services (not a bad thing, I just didn't want to pick/favour one to embed a link).
However, some of the salient points (not sure if it answers your question):
So, I think the answer to your question is "about $100B rolled in September", but that's an average, and that number is artificially small. The salient point is that it will *never again* be *less* than $100B/month, and it will actually be quite a bit more (by double- and triple-digit percentage increases).
In reality, the monthly issuance will be:
AMOUNT_ROLLED + DEFICIT_NEW + OFF_BOOKS_LIABILITIES_CASHFLOW_NEEDS
(>= $100B) + (> 6%-8% growth) + (* 50%)
Take-home message:
We are in the middle of a parabolic blowout. The scale is simply too big for small brains to see (e.g., elected officials and CNBC bobbleheads).
Starting to sound more and more like payday loans or auto title loans. Kripes! The plates are starting to wobble and it's a long way down the line to get them spinning.
I wonder how much further down September's numbers will be adjusted.
A billion here, a billion there, before you know it we're talking about some real money.
Jeebus.. you and I must have drank from the same coffee pot this morning. I read the HL and said quietly to myself. "What's a billion or 3 or 4 .. or 10. ".
Public perception priming and positioning.
Back when budgets were measured in millions, billions was big money.
Back when budgets were measured in billions, trillions was big money.
Now that budgets are measured in trillions, billions is a rounding error or a tip for the waitress.
This creep of the public perception is a deliberate part of psyops and propaganda and is utilized more often than we care to admit to move public opinion in a certain direction.
Think back to 2000 and tell me what the reaction would have been if the US population had been told that the military and secret service was water boarding people? Now tell me what the reaction would be if the public was told people were being water boarded.....again?
This is why trial balloons are used, to prime the public collective consciousness. It's so insidious and in such wide spread use not only by government but by corporate America that we just don't realize we've already arrived at the modern day version of 1984.
Don't be so sure of that.
http://upload.wikimedia.org/wikipedia/en/3/3e/Zimbabwe_%24100_trillion_2...
Real money is measured in weights.
I still remember the times (pre 2007) that a billion used to be quite a lot of money... I must be getting old...
You beat me to it sort of. 2 billion either way barely warrants attention any more.
So what.
Ben makes more Pixeldust.
http://imgs.inkfrog.com/pix/posters/ERBELL_PIXIE_DUST_TINK20596.jpg
Well the good news is that the deficit came in at 9% less that last year (hahaha) bad news:second largest on record at $1.3T.
Heh - good point. So at this rate the budget will again balance in... (working calculator furiously)... well, sometime in the mid 2070's.
Awesome.
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this made my day (forexfactory)
Longest string of consecutive deficits now at 24 months...the records just keep on getting broken.
SNAP highest on record at 41.8 million
new weekly (NSA) UE claims +75,000...I think that might be a record...at least in the last 10 yrs.
Tut, tut... paying interest on freshly printed money (or freshly inputted numbers on a 'puter screen) to a private company (FED) which is owned by a handful of rich families (Rockerfellas, Morgans, et al)...
... seriously, and people don't see this scam and react to it? There must be a serious amount of Aspartame in the blood stream of Americans to keep them this pacified while they are clearly being robbed blind harder and harder...
... same applies to any country with a private central bank.
Yo FMB,
that's exactly what I'm flipping out about...not so much the piddling $18b but extrapolate out to a larger Fed balance sheet and do a mean reversion to the 50yr 10yr. T average of 7%...that my friends is the debt slavery crazy folks talk about, the yolk around our shoulders. This is not like a 401k loan you take from yourself and pay yourself back principal / interest.
This is a forced loan (debt) to be paid by taxpayers in interest only in perpetuity. This is the stuff of revolutions.
Now that FY2010 is history (except for paying for it) can we party like its 1999?
Hold. So we need money. We borrow it, print out the paper, use it to buy back out debt and pay ourselves the interest - an "excellent" idea... was used by USSR to pay for their increase in military expenditures in the late 80's.. result was the double digit inflation that speeds up the inevitable ... decrease in life style of an average Joe or government default or both. You chose. ...all hail the printer press.
One day this war will end.
We allow Fed to create money effectively allowing the Fed to borrow from future taxpayers. check.
Who do we pay the interest to? The Fed. Does this interest paid on this Trillion plus in T's come back onto the gov balance sheet as a credit? How does this work for us to pay ourselves through a private company and for them to give it back to the gov?
Notice that income receipts are essentially flat YOY at around $2.16 trillion (slight improvement over last year). Yet next year we see an estimate of a jump to $2.425 trillion. This is the way they keep the game going: "Wait till next year!" What is there on the horizon that suggests, at all, there would be such a quantum jump in receipts?
Expiration of "The Bush Tax Cuts(tm)".
Because they assume people will just sit back and watch their taxes go up about $270B in one year and do absolutely nothing about it and so the tax manna will just roll on in.
Yeah, silly - right? But there you have it.
I remember when Trillion was only used when you wanted to rocket to the nearest star.
"To put $1 trillion into layman's terms: there is no way to put $1 trillion into layman's terms." -- S. Colbert
I get it ponz, Fed buys T's, US pays Fed interest, Fed gives interest back via SIV. it's all good
GOLD updated chart showing parabolic move.
http://stockmarket618.wordpress.com
Really this is a great post from an expert and thank you very much for sharing this valuable information with us.
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