The federal government began the new budget year with a record deficit of $237.2 billion, reflecting the billions of dollars the government has started to pay out to rescue the financial system.
The Treasury Department said Thursday that the deficit for the first month in the new budget year was the highest monthly imbalance on record. It was far bigger than analysts expected, over four times larger than the October 2007 deficit of $56.8 billion, and more than half the total for all of last year.
The Republican Party used to stand for something. Now, it represents failure in foreign policy, energy policy and fiscal policy – the trifecta! Try not to laugh too hard the next time a Republican accuses the Democrats of being big spending liberals, spreading the wealth and socialism/communism.