The deficit only went up by $125 billion in May. No wonder the stock market is soaring. Everyone knows, the bigger the deficit, the better the economy gets. Borrowing always leads to prosperity and growth. Just ask the 3 million people who’ve been kicked out of their houses in the last few years. The deficit through 8 months according to the CBO is $845 billion. We’re right on track for another $1.3 trillion deficit. That Obama is sure serious about deficits. Of course, if you go to the Treasury Dept site and see how much the National debt has risen over the first 8 months it shows a $902 billion deficit. That’s only a $57 billion discrepancy. Close enough for government work.
I know math is hard for 98% of willfully ignorant Americans, but I’ll try to put this $902 billion deficit in perspective so that even a CNBC Bimbo might understand:
- We are spending $3.8 billion more per day than we are bringing in.
- We are spending $157 million more per hour than we are bringing in.
- We are spending $2.6 million more per minute than we are bringing in.
- We are spending $43,500 more per second than we are bringing in.
To make it understandable to my readers in West Philly, this means that the government is buying a Cadillac Escalade on credit, every second of every day, forever.
But don’t worry. The national debt as a percentage of GDP is only 102%. Rogoff & Reinhart said we only have to start worrying when it reaches 90%. See. Nothing to worry about. The stock market is up 100 points and Bernanke has promised to save the world. Back to America’s Got Talent.
U.S. posts deficit of $125 billion in May
By Jeffry Bartash