Obama Brings the Pain… Deficit Reaches $120 Billion in October

Obama brings the pain…

Here’s a little reminder of what Obama inherited from his first term:
Trillion dollar deficits from here to eternity…

(J. Hoft Chart)

$5 trillion to national debt in a little over 3 years.
A new world record.

(Heritage)

And he’s off to another great start.
The October deficit reached $120 billion in October up $22 billion from the October 2011 deficit.
Reuters reported:

The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape.

The Treasury said on Tuesday the October deficit was $120 billion, larger than economist forecasts for a $114 billion gap and up from $98 billion in October of 2011.

Growth in expenditures outpaced rising receipts, deepening the deficit. Outlays grew to $304 billion from around $262 billion in the same month last year while receipts rose to $184 billion from $163 billion.

Following President Barack Obama’s election to a second term last week, the debate in Washington has quickly shifted to the combination of expiring tax breaks and new spending reductions known as the “fiscal cliff.”

Lawmakers involved in the debate gathered in Washington on Tuesday for the first time since the elections, setting the stage for a week of trial balloons and rhetorical repositioning.

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  • ★FALCON★

    Every economic indicator is going in the wrong direction and Obama said he wasn’t going to allow Republicans to claim a victory when the economy turned around.

    Own it.

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  • http://mychal-massie.com/premium/ bg
  • Blacque Jacques Shellacque

    The Treasury said on Tuesday the October deficit was $120 billion, larger than economist forecasts for a $114 billion gap and up from $98 billion in October of 2011.

    Wait!

    It was “unexpected”, right?

  • http://! l.barney

    To All O voters: From now on all bad news attributed to King O courtesy of his media lackeys will be provided for your viewing pleasure AFTER Nov. 6th 2012

    wash, rinse, repeat: “Elections have consequences!”

    Keep thinking about that before you go to bed each night-for the next FOUR YEARS!

  • pink tie Republican

    Got gold? Silver? When the dollar goes tits up Barry will be laughing his skinny cocoa colored ass off.

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  • http://mychal-massie.com/premium/ bg

    ++

    Obama Brings the Pain…

    we (that’s you the people) all have to make sacrifices, i have to play
    golf while the MSM cleans up my BENGHAZI mess.. and i thought my
    BIN LADEN mess was tough, but enough, now it’s back to the rough,
    oh wait.. caddy!!

    – Barry Dunham Soetoro Barack Hussein Obama (by
    any other factual, fictitious, or “composite” names..)

    ==

  • http://mychal-massie.com/premium/ bg

    ++

    ht Black Conservative Political Action via Donna Marie

    November 11, 2012

    The Hard Fiscal Facts

    Individual tax payments are up 26% in the last two years.

    ==

  • DMG

    Left out of the cut and paste:
    The United States had reported a budget surplus for September, the final month of the 2012 fiscal year

    Hmmmm … I wonder why that was.

  • Blacque Jacques Shellacque

    Left out of the cut and paste:
    The United States had reported a budget surplus for September, the final month of the 2012 fiscal year

    “Hey look everybody, instead of weighing 500 pounds we’re now only 498 and a half pounds!”

  • http://mychal-massie.com/premium/ bg

    ++

    DMG #11 November 13, 2012 at 5:17 pm

    haven’t got a clue.. /s/

    ==

  • http://biggovernment.com ponderon
  • http://mychal-massie.com/premium/ bg
  • Flintstone F.

    The same old policies that didn’t get us out of this mess in the first place.

    I love to see it stated as it is on this post, that Obama inherited his own bad economy and deficits.

    He’ll just have to blame the “obstructionist” Republicans if Reid can’t find a way completely dismiss them.

  • Blacque Jacques Shellacque

    He’ll just have to blame the “obstructionist” Republicans if Reid can’t find a way completely dismiss them.

    No, he and his acolytes will simply blame Bush, and the Democrat press will have no comment.

  • Patty

    Ronald Reagan Talks About Balancing the Budget on “The Tonight Show” — 1975

    http://www.youtube.com/watch?v=hDwCTKXCFW4

    THOSE WERE THE DAYS! WON’T BE GETTING THEM BACK ANYTIME SOON

  • A_Nonny_Mouse

    President Chucklehead can always go back to his old standby, and blame “the failed policies of the previous administration”. [=~snicker!~=]

  • Kissmygrits

    Expect to hear, ‘we still have a lot of work to do’, a lot in the next 4 years. We aren’t getting much bang for our big bucks. Where’s the line forming for the free phones? Gotta get me one. Hope all those youth who were so excited to vote for dear leader again feel the pain from the IRS this time.