US More Bankrupt Than Ever - $83 Billion April Deficit Is Record For The Month, $30 Billion Worse Than Expected As Tax Receipts Plunge

Tyler Durden's picture

Well, if nothing else, we now know officially just how great those tax receipts were. Good thing too - we can end that whole superficial tax receipt debate and focus on important things. April's tax deficit of $83 billion was the highest April deficit on record. America is now more bankrupt than ever. Income was $245.3 billion, 8% below the total
recorded last April. Spending was $328.0 billion, up 14%
year-over-year. A
year ago in April the deficit was $20.9 billion. And here is the data: tax receipts down 7.9% YoY, Individual Income Tax down 21.5% YoY, and more importantly, spending: Total spending up 14.2%, National defense up 17%, Medicare up 39.4%, Social Security up 4.2% and General Government up 5.6%. At least interest payments were down 9.5%.

And now back to your regularly scheduled bankrupt country market melt up.

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Turd Ferguson's picture

Mother

of

All

Short

Squeezes

 

MoASS!!!!!!!!!!!!!!!

w a l k - a w a y's picture

I don't understand how record federal monthly deficit could be construed to be a short squeeze.

Could you please explain the basis of your favorite acronym in this context?

Votewithabullet's picture

Turd trying to start shit. Reverse Harry Wanker. Try to short squeeze someone who spends 1/2 TRILLION EVERY YEAR on their military. FAIL. Metals can be manipulated and helicopter ben will use the blades on his chopper to give GG a haircutt. Not saying I agree ...just saying.

Sudden Debt's picture

I actually thought the little light at the end of the tunnel was a firefly...

bummer...

Pladizow's picture

Nope, its the train coming towards you.

WaterWings's picture

Standing ovation for Pman.

Crab Cake's picture

Just keep swimming.  Just keep swimming.  Just keep swimming.

http://www.youtube.com/watch?v=cxB_TemN1pc

Do you see anything?

I see a light....

Howard_Beale's picture

Ben at the printing press mug at the ZH Fundraiser Store:

On the mug: Deficits don't matter, until they do...

http://www.zazzle.com/ben_at_the_printing_press_mug-168921577105737484

oklaboy's picture

with 1.6 million layoff scheduled for 7/15, they are the search party!! no worries, all is well...

perchprism's picture

 

Are you serious?  Who is planning a 1.5 million layoff?

Hephasteus's picture

Every state and central government on in the western hemisphere.

Landrew's picture

Census workers terminate starting July

assumptionblindness's picture

Medicare spending up 39.4%?!   WTF!!!!!!

Sudden Debt's picture

YOU'RE WRONG!!!!

Obama said it was ALL FREE and FREE FOR ALL! :)

assumptionblindness's picture

'Free for all' is completely accurate...

Missing_Link's picture

It's true!  He said it was free!!!  And the magical unicorn he was riding said the same thing!!!

inflation.studentloan--0's picture

can't believe you're calling Hillary a unicorn.

Defiant1968's picture

Speaking of free health care - I just got back from trying to do a walk-in to the VA hospital here in Atlanta - Big traffic jam outside with no parking available - went to clinic - long waiting line - did not get to see a doctor so just decided to do the bloodwork and left - I'm wondering what it will be like when the Iraq and Afghanistan Vets come home (if ever)

 

 

kwvrad's picture

Speaking of healthcare, I did my usual 6 month round with my doctors, which Ive been going to the same ones for about 7 years now , all 4 of them said they are throwing in the towel in the next 18 months or less, they simply cant make money with OBAMA care happening, things are so bad now , just wait we are going to have a shortage of doctors that will boggle the mind, not convinced? If your on good close terms with your doctors, ask them yourself about their current state and future plans you'd be suprised.

hedgeless_horseman's picture
  1. Last month Medicare dropped all reimbursements to physicians by 20%+
  2. Physician reimbursements from essentially all insurance companies (BCBS, United, Humana, Aetna,, etc.) and all .gov racquets (CHIPS, Medicaid, TriCare) are based on Medicare rates, such as 110% of Medicare, etc.
  3. Your doctor just had an 80% cram down on his or her entire revenue stream, thanks to Washington
  4. The insurance companies, hospitals, pharmaceuticals, and device manufactureres all have much, much, better lobbyists than the sad doctors who thought they would all be driving Porsches and golfing on Wednesdays.   Maybe they should have gone to Harvard Law or Wharton?
jmc8888's picture

Exactly Obama care is a farce of farce.  It isn't healthcare, it sure isn't socialized medicine, and it sure isn't paid for by yourself medicine.

 

It's just extend and pretend on the human level.  Screw the doctors, hand slap or less the big drug and insurance companies.  Take their death panels and instead of making them illegal, decide to implement your own, but it's much worse with Comparative effectiveness research and all manner of bunk statistics, incorrectly interpreted to show that a procedure that can save your life, is in fact a waste, and will not work. 

The system was going to fail anyways.  Now when it fails, they've got their cost cutting structure in place.  Genocide is free ya know.

America can afford whatever it wants, except monetarism.  With monetarism, no way you get a sound healthcare.  Especially when monetarism is crashing.  We can afford single payer, if we weren't playing the banksters monetarist games.  We also could have a system where people could afford to pay for it themselves.  But too bad we have monetarism, which makes either impossible.

Nowhere in the Queen's NICE modelled after T-4 from 1930's Germany are there plans nor logistics for increases to medical care.  No new schools, no new hospitals, no or little new research funding, etc, etc. 

Already a couple of hospitals here in the PHX area won't accept medicare patients, which could be a problem, since people come here to retire.  My guess is Florida and others will be hit hard as well.

What Obama doesn't realize is that he can't cut 30 percent out of everything, when costs are going up by 12-13 percent a year, and not have a genocidal situation.  But since Obama is an idiot, just like the queen's bankers tell him the numbers work, so do the queen's healthcare people. 

What we instituted was the British offshoot of the T-4 program.  Not applied to same way, we all can be undesribles now....we're all equal to suffer now.

Just watch.  Just like the economy, the healthcare, and ANY conservative alternative, is a farce. (that is if the conservatives have the balls to put anything forward...which they don't...at least and keep a straight face)

Everyone deserves healthcare, period.  The only supply shortages come from poor planning, monetary concerns.  It's that simple.  It's not hard to build more defibulators, or build more hospitals.  Prescription drugs? C'mon...they're in stock at thousands of pharmacies. 

But like the above guy says, once the doctors are gone, there will be a REAL shortage.  So why not some new nursing schools being funded to open? Because Obama doesn't really plan on delivering more care. 

But in reality you should feel lucky, the republicans would never of done crap about Healthcare, and would let its costs outstrip your ability to pay for it on your own, and done nothing.

We needed change in our health care system, just not Obama's/Queen's/T-4.  Funny how we passed something the Heritage foundation wanted passed as a compromise ~1990.  Now the idiots think it's socialism.  Nope, it's corporate fascism.  Obama took a republican think tank plan along with the Queen's N.I.C.E. idiot board, and passed it. 

Just wait until the crap hits the fan, and what great timing, it should be hitting us in the midst of an economic depression from hell.  You think you're going to get congress to repeal that when they are most in hock?  Good luck on that.  Merely that's the point the queen whispers that you'll be solvent if you cut x, y, z from your medical system...and look this bunk research says it's not worth it.

But the absolute worst is the percentage game that's was passed in Obamacare.  They will only pay you for outcomes.

Well guess what, a good cancer procedure may 'cure' just 20 or 50 percent of people.  So what that means is if you have to do a treatment to 100 people and 20 or 50 survive, it is working.  But if you tell the hospital you will only pay for the 20-50 that survive....what will the hospital do?  Raise prices, sure.  Will they deny treatment? Sure.  So what happens when they do that? You mean besides people needlessly dying for the bank bailouts?

Simple.  If you have 100 and say 50 survived.  Now since you're only gonig to be paid for 50, you are only going to do 50. 

But it only cures half the people? So if only 50 get the treatment only 25 are going to survive, and get 'paid for'. 

So then you got paid for 25...how many are you going to do? 25. 

So out of 25, how many are going to survive 12 or 13.  So on and so forth.

That's your denial of care.  You don't even NEED a deathpanel to look at bunk research.  Not to mention you have a deathpanel that will be constantly looking at bunk reserach to discountinue things.  Oh  mammograms not needed until 40, no self-checking breasts or nuts.  Don't have medical screenings. 

These guys are idiots.  They'll kill people, and STILL won't balance the budget.  Because that's the game of monetarism.  We'll NEVER be out.  Monetarism is like paying the monthly minimum on the credit card, you never get out.

 

 

SWRichmond's picture

Noticed that, too.  Yes, let's provide health care for everyone, it's more fair.....when no one gets any, that is.

jmc8888's picture

ROFL, only people who think idiotic, believe this.

There is no, no one can get any.  That's complete bs.  Everyone does deserve healthcare, just for being born. 

It's the facts that no one wants to look at the overall picture and fix it, that is crushing the system.  Guess what, continue on your way, there will be shortages for everyone. Continue on obama's way, there will be too.  Because your way, and obama's way are BOTH DEAD WRONG. 

Just like Helium 3.  We need it for fusion, we need it for other things we currently use on earth.  But we're running out.  So should we constrict use based on who deserves it the most, or who has the most money?

Or do we go to the moon where there is a 1000 year supply for fusion reactors, let alone any other industrial use for it.

If we run out of H3, blame Barack Obama (Larouche said it perfectly)

same situation can be applied to health care.

If you aren't 'going to the moon', then you are just creating scarcity where it does not need to exist.

That's the point about scarcity many people forget about.  There's ACTUAL scarcity, and market induced scarcity. 

We live in a world of constant market induced scarcity.  So I find your viewpoint on everyone not being able to have healthcare because there isn't to go around laughable.  It's only not enough to go around, because WE CHOOSE FOR THAT TO BE THE CASE.

We can choose the other way too.  We can choose to end the banker's swindles too, but haven't yet. 

Self-limiting behavior.  You should look it up, and then see you have a self-limiting mindset, it's based on bs, and is a complete fabrication of your mind. 

It's your right to think that way, but it's not your right to be correct about it.  You aren't.  You believe our scarcity is real.  I KNOW it is manufactured.  Thus anything that we can't meet like healthcare, because of it, is bs.

SWRichmond's picture

Tell it to the Canadians and Britons.

JJ McApe's picture

Tripple A Rating!!!!!!!

assumptionblindness's picture

Word!  The rating agencies are the biggest joke of all...

Hansel's picture

Is a more accurate accurate accounting of the deficit closer to $-175.6 billion? The numbers in the link aren't labeled.

edit:  The $-175.6 billion number is the month-to-month change in debt outstanding from March to April.  The U.S. issued $257 billion in debt over the last 2 months to raise cash ($176B in March, $81B in April).  Interpret for yourself.

SheepDog-One's picture

But, isnt the worry over debt 'subdued' as CNBC said today? Oh well, back to 'risk on' equity gas pedal to the floor with a maniac meth head at the wheel.

hedgeless_horseman's picture

Not subdued, just offset by the increase in the value of all the gold in Fort Knox.

SheepDog-One's picture

Are those bars the tungsten filled variety?

SayTabserb's picture

This might be enough to make Paul Krugman think there's a problem.

Howard_Beale's picture

You are assuming Krugman gets his head out of his ass. I think it's permanently stuck there.

Miles Kendig's picture

He does like the taste of the gas he passes

WaterWings's picture

Smells like garbanzo beans sprouts.

GlassHammer's picture

If deficits were monuments America would be remembered forever.

 

 

Cursive's picture

@GH

You need to get this to Howard Beale.  Would make a great addition to the collection.  And thanks for this.

Howard_Beale's picture

I got it. In the meantime, check out the Deficits don't matter until they do with Ben at the printing press:

http://www.zazzle.com/ben_at_the_printing_press_mug-168921577105737484

drheywood's picture

Hehe. If deficits were butt plugs maybe Americans would understand the position they're in better?

jkruffin's picture

It's easy math really...

 

If you give out money for free, then pay 2,3,4 % interest on that money

You are going to end up in the hole every month

Add tax income losses to that and you get further in the hole each month

Kicking the can down the road, has become kick it down the dead end alley, and the brick wall is about one or two more kicks away from ending the game.

DaveyJones's picture

I don't like to say "easy math," I prefer to call it new math 

Howard_Beale's picture

You gotta come up with something better than that!

New math was created by Max Beberman and he was actually my professor.

http://www.state.il.us/HPA/Illinois%20History/giridaran106.pdf

Lucky Guesst's picture

I think that new math is now the old math we are back to.

I graduated in '90 and by the time my first was in elementary in '02 I could not help her with math homework because I couldn't force myself to figure out the longcut. They scrapped it and went back so my son is now on the same page as me.