July 14, 2009

1 Trillion Already & 3 Months Left

Economy of American SamoaImage via Wikipedia

The budget deficit of the United States is going off the roofs as the time is going by this year. Still there is a big amount of time, three months left of this years budget and already the United States government is going through a budget deficit of 1 trillion for this year. In BBC's webpage, this post showed why budget deficit would affect the world population, mostly the United States:
  • Increased debt costs for government
  • Increased risk of inflation
  • Long-term pressure on dollar
  • Could lead to higher taxes and spending cuts later
Why is the budget deficit climbing up to the roofs? The bail out money that everyone knows about took $700 billion from this year's budget for the country. So 1,000,000,000,000-700,000,000,000 and only 300 billion dollars are left. Then the stimulus package which took over the other part of the deal. The stimulus package captured 787 billion dollars of the money for the public (as mentioned) and already we are over one trillion.

The treasury department had showed a defect this year of $1.086 trillion (well the number is already making my hand tremble, type slow :))

So is the economy improving or will it improve, we can't actually say anything until we get to the time, or else get a time twister like one from Harry Potter and hope that even through these hardships, the new Harry Potter movie makes better deal.
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