Budget Deficit
Long-Term Budget Deficit Revised, Now $2 Trillion Dollars Worse
Submitted by Tyler Durden on 08/21/2009 17:22 -0500Two days ago the market ripped a few hundred points after yapping heads couldn't shut up about how next year's budget deficit was going to be revised down by $260 billion, after a stellar financial system managed to ramp up 100% ever since State Street refused to lend any stocks for shorting... ever... and after the FDIC has somehow managed to maintain the bank failure rate at a stellar +/- 10 banks per week. Well, as is usually the case with CNBC, they jumped the shark early in keeping with the overall propaganda directive. The full report that will be released on August 25 will demonstrate that the budget deficit for the next ten years will be worse... by $2 trillion dollars.
Obama To Reduce Budget Deficit By $262 On "Fewer" Than Expected Bank Failures
Submitted by Tyler Durden on 08/19/2009 17:31 -0500Archive this one for the funny pages. It has been leaked by administration officials (and sponged up by Bloomberg), that on August 25, when the CBO releases its updated budget estimate, the 2009 deficit is expected to decline from $1.825 trillion to $1.58 trillion. And, get this, one of the reasons for the reduction is the FDIC spending $78 billion less, presumably due to "fewer bank failures than the administration anticipated." Pardon us, but last time we checked, not only did the FDIC have no cash left in the FDIC, and was effectively in a debtor position vis-a-vis the administration, but of the top 4 banks pending for blow up, Colonial was under (granted with some arbitrarily optimistic loss expectations), Guaranty was about to be hawked over to a few siesta loving left midfielders, and Corus was about to... well, we are not quite sure what the hell Corus is doing these days.
July Budget Deficit Grows By $181 Billion, YTD Individual And Corporate Receipts Tumble
Submitted by Tyler Durden on 08/10/2009 08:59 -0500The Congressional Budget Office released its preliminary July 2009 budget numbers - the budget deficit is now expected to be $181 billion, an 80% increase compared to the July 2008 deficit of $101 billion.
First Tax-Month Budget Deficit Since 1983
Submitted by Tyler Durden on 05/12/2009 18:59 -0500The U.S. reported the first April budget deficit in over 25 years, specifically $21 billion on a significant drop in individual and corporate tax receipts. April, which is traditionally the strongest budget revenue month due to the peak in individual tax revenue collection was unable to buck the trend in second derivatives and green shoots and is likely an indication of just how much worse the economy will get with traditional Treasury revenue sources rapidly disappearing. The Congressional Budget Office, which forecasts a $1.75 trillion budget shortfall for the Sept.
First Tax-Month Budget Deficit Since 1983
Submitted by Tyler Durden on 05/12/2009 18:59 -0500The U.S. reported the first April budget deficit in over 25 years, specifically $21 billion on a significant drop in individual and corporate tax receipts. April, which is traditionally the strongest budget revenue month due to the peak in individual tax revenue collection was unable to buck the trend in second derivatives and green shoots and is likely an indication of just how much worse the economy will get with traditional Treasury revenue sources rapidly disappearing. The Congressional Budget Office, which forecasts a $1.75 trillion budget shortfall for the Sept.
Step-By-Step Guide to Near-Term Budget Deficit Funding
Submitted by Tyler Durden on 01/15/2009 19:23 -0500With the U.S. government unable to print money fast enough, and "sophisticated" investors rushing to buy every bond Washington will peddle to fund the upcoming multi-trillion budget deficit, Zero Hedge has decided to make life easier for everyone and provide a cribsheet for all upcoming Bill, Note, Bond and TIPS auctions. We wish everyone the best as they earn negative 2-100% real interest rates on their investments.
