A Record December to Remember for Obama Deficit

The U.S. government ran a budget deficit of $91.8 billion alone in the month of December 2009. That is a record- for comparison, even during the last year of Bush's Presidency as he spent money like water to deal with the banking crisis, the federal deficit for December 2008 was $51.7 billion- $40.1 billion less than Obama's deficit.

This deficit marked the 15th straight month in which the U.S. government added to the federal debt by having outlays exceeded receipts, the Treasury Department reported. President Obama has been President for 12 of those 15 months.

The December figures bring to $388.5 billion the deficit for the first three months of Washington's 2010 fiscal year. That's on top of a staggering $1.4 trillion budget shortfall for fiscal 2009, more than three times the size of the deficit that the government ran in 2008. At this current pace with no further major spending initiatives, the federal deficit is on a pace to hit $1.554 trillion in fiscal year 2010. That would mean that in Obama's first two years as President he would have added almost $3 trillion dollars to the federal debt, and this does not include further spending initiatives like the healthcare bill (another trillion in debt), more 'stimulus bills' (billions more in debt), or increases in military spending (billions more).

A very small part of the reason for this stunning deficit is the slight drop in revenue due to the destroyed economy under the Democrats control- year ago in December, receipts were $238 billion but receipts were just $219 billion in December. That is a loss of $19 billion in revenue, on top of an increase in spending of $21 billion.

President Obama and the Democrats are hoping that their policies of spending even more money, raising taxes and fees, putting in place more regulations, increasing the unions power in our nation, and giving great speeches about fighting the deficit will lead to a reversal of this utter destruction of the United States of America.

Data for this story was pulled from this Wall Street Journal article.