Obama posts 19th straight monthly budget deficit (a/k/a tax increase) by piratenews

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Obama posts 19th straight monthly budget deficit (a/k/a tax increase)

POSTED BY: PIRATENEWS
UPDATED: Friday, May 14, 2010 06:47
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Friday, May 14, 2010 6:47 AM

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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.

The government has now posted 19 consecutive monthly budget deficits, the longest string of shortfalls on record.

http://www.reuters.com/article/idUSTRE64B53W20100512

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