government

Federal deficit hits all-time high $1.42 trillion

WASHINGTON – The federal budget deficit has surged to an all-time high of $1.42 trillion as the recession caused tax revenues to plunge while the government was spending massive amounts to stabilize the financial system and jump-start the economy. The imbalance for the budget year ended Sept. 30, more than tripled last year’s record. The [...]

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Dyslexic Robin Hood – USA Government Takes from the Poor to Give to the Rich

Welfare for the Wealthy By Rick Newman Rick Newman – Tue Jul 28, 11:02 am ET When CIT Group, a medium-sized lender, faced the threat of bankruptcy recently, it raised an uncomfortable prospect for the officials in Washington managing the bailout of the financial system. CIT got $2.3 billion in bailout funds last year–yet it [...]

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