Saturday, February 27, 2010

AP: Report shows government's liabilities surging

Yahoo Finance and Associated Press;

Annual report shows government's financial position hit

 $11.46 trillion deficit in 2009

WASHINGTON (AP) -- The federal government fell further into the red in 2009, with its financial position hitting a deficit of $11.46 trillion.

That figure is 12.3 percent higher than the previous year, according to a new report issued by the Treasury Department on Friday.

The annual report shows that the government's big entitlement programs such as Social Security and Medicare are facing a deficit over the next 75 years of $45.88 trillion, an increase in that deficit of $2.9 trillion in just one year.

This is disastrous fiscal condition our blowhard politicians have created because of their innate cowardice, lack of principle, and addiction to the priviliges of being in office. Throw all the bums out and try again. Vote against all incumbents.

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