Last month, the federal government recorded a deficit that was TWICE what it was at the end of May 2011:
The U.S. government posted a budget deficit of $125 billion in May, more than twice the level registered in the same month last year.
So far this fiscal year, the budget deficit stands at $844.5 billion, narrower than at the same time a year ago.
Under the government’s accounting system, October is the opening month of fiscal 2012. During fiscal 2011 which ended Sept. 30, the budget deficit totaled $1.296 trillion.
Before certain folks start sputtering: “Bu-bu-bu-but, HARRY REID !!!” , remember that ALL FEDERAL SPENDING HAS TO ORIGINATE IN THE U.S. HOUSE.
Who controls the U.S. House? Why, it’s the GOP. You remember — the folks who kissed up to us fed-up Tea Party folks in 2010 promising to cut all of this federal spending and get the country’s affairs in order. Remember that?