US More Bankrupt Than Ever - $83 Billion April Deficit Is Record For The Month

[Ares]

$30 Billion Worse Than Expected As Tax Receipts Plunge

Well, if nothing else, we now know officially just how great those tax receipts were. , and yes. We were right. April's tax deficit of $83 billion was the highest April deficit on record. America is now more bankrupt than ever. Income was $245.3 billion, 8% below the total recorded last April. Spending was $328.0 billion, up 14% year-over-year. A year ago in April the deficit was $20.9 billion. And here is the data: tax receipts down 7.9% YoY, Individual Income Tax down 21.5% YoY, and more importantly, spending: Total spending up 14.2%, National defense up 17%, Medicare up 39.4%, Social Security up 4.2% and General Government up 5.6%. At least interest payments were down 9.5%.

And now back to your regularly scheduled bankrupt country market melt up.

LInk to Article (http://www.zerohedge.com/article/us-more-bankrupt-ever-83-billion-april-deficit-record-month-30-billion-worse-expected-tax-re)


EDIT: Changed long link to named link to prevent horizontal scrolling. -Gaillo

[cigarlover]

oh dont worry the Gov just needs to spend more and all will be ok.

[Neuro]

Considering the situation the interest payments should not be down the interest payments should sky-rocket...

Proof that Bernanke is using the digital money printer to finance the deficit full time.

[Ares]

Considering the situation the interest payments should not be down the interest payments should sky-rocket...

Proof that Bernanke is using the digital money printer to finance the deficit full time.


That's what I was thinking too.

If you or I spent like a drunken sailor, our interest rates would go up the more we spent, and the more debt we incurred.

Reality will catch up sooner or later, and it won't be pretty.

[goldmonkey]

According to Denninger:


$82 billion my butt. The real number is $175.6 billion ...

http://market-ticker.org/archives/2309-Record-Deficit-For-An-April.html

[gunDriller]

i thought that February had a $222 billion deficit and March 2010 had a $333 billion deficit.

in other words ... the US is more bankrupt than ever. 8)

[1970 Silver Art]

Only $83 Billion in the red for April? That's better than expected. :sarc: :sarc: :sarc:

A new April deficit record to add to the same overall story on the reckless spending of the U.S. gov't.