Federal budget deficit for November hits $120.3 billion, record 14th straight month of red ink (collection, percentage)

[mikeharnen]

http://www.fms.treas.gov/mts/mts1109.txt

For those that haven't taken the time to look over November 2009 US Treasury report... let me point out some very SERIOUS figures. Visual Aid added for your shocking pleasure in the chart:

First Time since the Great Depression that the US Treasury of the United States had to pay out money to Corporations for Corporate Income Tax collected (A Deficit - BELOW ZERO) see chart

Last year, Nov 2008/FY2009 was a terrible enough, but this next point shows you the true UNEMPLOYMENT figures and amount of Personal Income Tax Collected from We The People. I can't even Imagine this devastating number:

Personal Income Tax collected

Nov 2008: $95,563,000,000.00

Nov 2009: $47,858,000,000.00 <====== BOOM 50% Drop

Almost $48 BILLION LESS than last year's collections... now do you think the Unemployment rate is @ 10%... nope, it's more in the range of 17.2% to 21%.

Astonishing Figures that the government is masking to the People/squelched by MSM. BTW, looking at Q4, 2007... confirms it was a RECESSION back then by looking at the drops across the board and total Receipts. So it took the Bush/Obama regimes to admit the recession 18 months later!



This is Devastating because not even the $150 Billion BS Stimulus Bill Pelosi/Obama are calling for WON'T offset the losses from even last year's bad quarters.

[floridasandy]

thanks for the informative post. when people have all the facts, they are clearly in a better position to make the right choices in life.

[Philip T]

Would not the numbers already have negative earlier if the Bush Corporate Oil Wars (er, ah War of Terror) had been legitimately "on the books" rather that shifted directly to debt?

[sterlinggirl]

Originally Posted by mikeharnen

Personal Income Tax collected

Nov 2008: $95,563,000,000.00

Nov 2009: $47,858,000,000.00 <====== BOOM 50% Drop

Almost $48 BILLION LESS than last year's collections... now do you think the Unemployment rate is @ 10%... nope, it's more in the range of 17.2% to 21%.

You're forgetting that Obama's stimulus plan cut tax witholdings. That's a big reason for the drop in collections.

To get to the truth you need to look at SS and Medicare witholdings which have stayed at a constant percentage of income.

[roadrat]

Originally Posted by sterlinggirl

You're forgetting that Obama's stimulus plan cut tax witholdings. That's a big reason for the drop in collections.

To get to the truth you need to look at SS and Medicare witholdings which have stayed at a constant percentage of income.

Were can we find the ss and medicare numbers?


bill

[tallrick]

I know that I will not be paying any income or capital gains taxes in 2010. They will be shocked at how many business owners will not be making quarterly payments either. In fact I am making sure that I will not pay income tax until this obamination of a government reforms itself or collapses.

[user_id]

Deficits always increase during recessions, this is a non-issue. Funny that people are only now outraged about deficits....where was the outrage when the government was running deficits when the economy was actually expanding?!

I wonder how many people would have supported the wars if it was tied to appropriate tax increases? This country is such a joke.

[tallrick]

Just wait till nobody wants to take a chance buying T-bills. With fewer taxpayers to back them up investors would be taking a larger risk to own them. Interest rates will have to rise, a lot!

[user_id]

Its odd that people are still talking about sky rocketing interest rates, despite the fact that they are at historic lows right now despite all that has occurred.

[floridasandy]

Originally Posted by user_id

Its odd that people are still talking about sky rocketing interest rates, despite the fact that they are at historic lows right now despite all that has occurred.

most people are able to look ahead when they see ridiculous monetization of our currency, and realize that we are now in the "party" phase of all of this ridiculous spending. as far as continued spending, it is amazing that congress thinks that people are going to fall for the same thing twice, with yet ANOTHER job stimulus bill proposed, using the SAME EXCUSE for the spending that they did last time, which was to "create jobs".

my question for congress is, "if we are in a recovery, why do you need another job creation bill?" wouldn't the new demand created by the recovery create jobs? somebody is lying to the american people.