Iraq war, not earmarks, busting federal budget

April 17, 2008
Iraq war, not earmarks, busting federal budget

Bridge to nowhere: $398 million.

Pre-emptive war to nowhere: $3 trillion.

Sometimes it's important to review where our federal tax dollars go and in what proportions. Conventional political spin would have us believe that spending on unnecessary earmarks is busting the budget while the war in Iraq need not enter our fiscal consciousness because it's funded with "supplementals" and therefore "off budget."

First Quarter Budget Deficit Reaches Record

December 9, 2007
First Quarter Budget Deficit Reaches Record

WASHINGTON (Thomson Financial) - A slowing economy has begun taking its toll on US government finances as the Treasury today reported record deficits for both the month of November and the first two months of its 2008 fiscal year, the latter being a record 153.8 bln usd.

The deficit for October and November, the first two months of the federal government's 2008 fiscal year, was up 26 pct from the previous same period, Treasury reported. Revenues were up 5 pct this year to 329.2 bln usd and spending up 11 pct to 483.0 bln usd.