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Surprise! Last Year's Deficit Actually $5 Trillion

mr_sparky Wrote: May 24, 2012 5:00 PM

Hmmm, says who? did you happen to read the article by Jimmy Pethokoukis, over at the AEI.org web site. You might go look at that before you spout your nonsense. Tell me what is the deficit going to be this year? and how much further has the Fed gov gone into debt since Pres. Obama has been in office?

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Surprise! Last Year's Deficit Actually $5 Trillion

Since 2009, and since Senate Democrats last passed a budget, the Congressional Budget Office has calculated $1 trillion deficits each year with 2012 being no exception. But now, a new USA Today study shows that last year's budget deficit wasn't $1 trillion....it was actually $5 trillion.

The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the...

Related Tags: Budget and Government Government Spending Paul Ryan Congressional Budget Office Washington D.C.