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lquadland10 (< 20)

Tick Tock. The national Debt.



October 10, 2009 – Comments (12) | RELATED TICKERS: SLV , AUY , BX

Lets debate health care to keep peoples mind off the empending doom. 11,936,131.........and counting.


12 Comments – Post Your Own

#1) On October 10, 2009 at 12:28 AM, lquadland10 (< 20) wrote:

Wednesday, October 7, 2009 US budget deficit may hit record $1.4 trillion Press TV - October 8, 2009 00:57:05 GMT

The US budget deficit is expected to hit a record 1.4 trillion dollars in 2009, some 950 billion dollars greater than the shortfall recorded last year.

On Wednesday, the Congressional Budget Office a non-partisan financial watchdog said that the forecast federal deficit for the fiscal year that ended in September was the highest shortfall -- relative to the size of the economy -- since 1945.

The deficit resulted from both declining revenues and increased spending, stemming mostly from aid to the financial system and fiscal stimulus to jolt the world's largest economy from a prolonged recession, the CBO said.

Revenues in 2009 were almost 420 billion dollars or 17 percent below receipts chalked up last year, the lowest level in over 50 years, it said.

At the same time, outlays increased by over 530 billion dollars or 18 percent in 2009 to the highest level also in over half a century.

The federal deficit in 2008 was 459 billion dollars.

The deficit estimates were based on data from daily statements from the US Treasury and CBO projections.  Some how I think the artical is wrong. We all ready past that mark by looking at the clock. 

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#2) On October 10, 2009 at 12:49 AM, starbucks4ever (85.73) wrote:

11,903 now 

Was 11,930 two days ago.

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#3) On October 10, 2009 at 5:29 PM, lquadland10 (< 20) wrote:

Zloj Wrong. Which clock is correct. Yours or the real time clock?  11,938,818.........

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#4) On October 10, 2009 at 5:48 PM, lquadland10 (< 20) wrote:



National Debt Cap Will Need to Rise, Treasury Predicts

By Lori Montgomery
Congress will be forced to raise the legal limit on the nation's credit card sometime later this year, Treasury officials reported Wednesday, focusing additional attention on the expanding national debt just as lawmakers expect to be putting the finishing touches on President Obama's trillion-dollar overhaul of the nation's health care system.

The amount the government may borrow from the public, including foreign creditors, is limited by law to $12.1 trillion, a cap that has been raised several times since the nation slipped into recession in December 2007. Treasury officials predicted this week that they expect to borrow an additional $892 billion through the end of the year, driving the overall debt past the cap sometime in the fourth quarter.

"Given the uncertainty surrounding potential borrowing needs, Treasury will continue to keep Congress and financial market participants apprised of developments as the debt outstanding approaches the statutory limit," Treasury officials said in a written statement.

The debt is the accumulated borrowing necessary to finance years of annual budget deficits. This year, the deficit is on track to exceed $1.8 trillion, a postwar record compared with the size of the overall economy. Polls show concern is growing over the nation's spending habits, and that concern is already influencing the health care debate on Capitol Hill, where Republicans -- and some Democrats -- are questioning whether a nation so deeply in debt can afford an expensive new program to expand health care to the uninsured.

The need to raise the debt limit could also put additional pressure on 0bama to rein in other parts of his agenda: The Congressional Budget Office has projected that the policies laid out in 0bama's first budget would require an additional $9 trillion in borrowing over the next decade.



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#5) On October 10, 2009 at 6:21 PM, starbucks4ever (85.73) wrote:

lquadland10 ,

I'm telling you, we're NOT hitting the 12.1 trillion cap either this month or the next. 

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#6) On October 10, 2009 at 11:17 PM, lquadland10 (< 20) wrote:

I bet you a penny we will. I never bet more than I have.

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#7) On October 10, 2009 at 11:34 PM, starbucks4ever (85.73) wrote:

Ok, a Caps penny :) 

If you watch the clock for several days in a row you'll see the debt rise only to take an inexplicable drop and go back to where it started from. 

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#8) On October 11, 2009 at 8:57 AM, lquadland10 (< 20) wrote:

you are right that is because they enter sales tax and gas taxes in one clock says  11,797,939 and a click here for less accurate verson is  oct 26 2006  9,845,292 Quite a difference on those 2. Now on yours it is 11,909,172. Oct 11 09 and mine that gives you real time is   11,941,214..... so if you take the higest and lowest and average them you get around the 11,941...... number. So which clock will we use I like the because it gives the total picture with tax revenue and social security and everything else including unemployment. :-)

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#9) On October 11, 2009 at 5:52 PM, starbucks4ever (85.73) wrote:

11942 now. Expect a drop early next week.

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#10) On October 11, 2009 at 8:00 PM, lquadland10 (< 20) wrote:

Ok lets see. However I believe that it won't drop all that much. All the quartly tax payments are in. Any gains from here will be eaten up with the intress payments on the debt.

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#11) On October 12, 2009 at 10:10 PM, starbucks4ever (85.73) wrote:

And now 11913. Here comes the drop that I mentioned.

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#12) On October 13, 2009 at 4:20 PM, starbucks4ever (85.73) wrote:

Tick Tock. 11917 today...Resuming a slow climb at a rate of $4 billion a day, to be followed by a $30 billion drop next Monday. 

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