Thursday, May 13, 2010

US Government Continues to Overspend

Reports today indicate that the federal budget deficit in April was the highest ever for the month, and demonstrate that clueless politicians in Washington DC continue to have no idea how to get the federal budget under control.

"The United States posted an $82.69 billion deficit in April, nearly four times the $20.91 billion shortfall registered in April 2009 and the largest on record for that month, the Treasury Department said on Wednesday.

It was more than twice the $40-billion deficit that Wall Street economists surveyed by Reuters had forecast and was striking since April marks the filing deadline for individual income taxes that are the main source of government revenue.

Department officials said that in prior years, there was a surplus during April in 43 out of the past 56 years."
What's it going to take to have our elected officials show some backbone and reduce spending so that all of this borrowing ceases?

It's absolutely ridiculous to continue borrowing money at this point, which will have to be paid back by future generations, only to spend it on frivolous federal programs.

Hopefully the American populace is paying attention and will take appropriate action at the Senate and House level in November by voting for candidates that promise to reduce spending in Washington.

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