Historically Unprecedented! U.S. Has 19 Straight Months of Budget Deficits

Well, the Obama administration is spending money so fast now that it would make a Greek bureaucrat blush. Naturally, the experts never saw this coming and it was unexpected.

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.

For the first seven months of fiscal 2010, which ends September 30, the cumulative budget deficit totals $799.68 billion, down slightly from $802.3 billion in the comparable period of fiscal 2009.

Outlays during April rose to $327.96 billion from $218.75 billion in March and were up from $287.11 billion in April 2009. It was a record level of outlays for an April.

Department officials noted there were five Fridays in April this year, which helped account for higher outlays since most tax refunds are issued on that day.

But for the first seven months of the fiscal year, outlays fell to $1.99 trillion from $2.06 trillion in the comparable period of fiscal 2009, partly because of repayments by banks of bailout funds they received during the financial crisis.

Receipts in April -- mostly from income taxes -- were $245.27 billion, up from $153.36 billion in March but lower than the $266.21 billion taken in during April 2009.

Let's see. Nineteen consecutive months of budget deficits would cover every month of the Obama administration, right? That means that Obama been in office for 15 full months and parts of two others, and he is 15 for 15 in spending us into the ground.

But yet the MSM shills and socialists will still blame Bush.

The numbers are becoming mind-numbingly outrageous. You know, if Keynesian economics worked as well as the left seems to think it does, given all this spending we should have double-digit GDP growth. Instead, we have double-digit underemployment with over 15 million people out of work.

The socialists in Washington have more and more of your hard-earned money to spend and hand out to their voter base, which I believe is their real goal.

I know many folks have taken a look at the Greece meltdown and shake their heads at the mess the EU is in. Well, the U.S. has a whole bunch of Greeces. They are called California, Illinois, Michigan, New York and New Jersey, just to name a few.

Bottom line is this spending has got to stop, but the socialists have no intent on stopping. So they will have to be stopped by the voters at the ballot box this coming November or else they will be stopped by the international credit market in the not too distant future.

It's like the old Fram oil filter commercial. We can pay them now, or pay them later.