Wednesday, May 12, 2010

U.S. posts 19th straight monthy deficit, longest streak in American history

The United States federal government is broke. Yet, it continues to spend money it doesn't have. On top of that, it has given away free money to help Greece's debt crisis.

According to Reuters, the government has posted 19 straight monthly deficits. President Obama has been in office for 15+ months.

In the past, April has been a good month for the government. It is the month that includes tax day after all. April has seen a surplus in 43 of the past 56 years.

The United States posted a $82.69 billion deficit, some $40 billion more than expected.

So, why no surplus? Could it be entitlements? Could it be spreading the wealth? How long can the United States government survive with all this spending?

Wowsers.

IN THE NEWS:
Reuters

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