Government Spending

Rueters reports that according to the CBO the U.S. Government is already $292 billion in the red for fiscal 2010. That's right, in just October and November the U.S. Government has already spent $292 billion more than it has taken in. That was even worse than the same period last year, when the government was on its way to posting a record $1.4 trillion deficit for the fiscal year that ended Sept. 30.
At some point we are going to have to borrow so much money to fund the deficit that there simply will not be enough demand out there to buy all that debt, especially not at current rates.

Dec 9 · 3:17:00 PM · Source: Reuters
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by Rich Pike