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Gov't Runs Out Of Cash This Sunday

Mike

Well-known member
Happy Debt Day: Government to 'Run Out' of Cash Sunday, Earliest Ever
Fox News / Politics | 04/24/2009

Debt Day comes early this year. Unfortunately, it's nothing to celebrate.

The symbolic "holiday," which falls on Sunday, marks the point in the fiscal year when government spending exceeds revenue.

In other words, the government will stop making money and start borrowing on Sunday.

And it's coming earlier than ever, according to House Minority Leader John Boehner, who's pointing to Debt Day as yet another symptom of a government he says is spending too much, borrowing too much and taxing too much. Last year's Debt Day fell more than three months later, on Aug. 5.

"All the revenue for this fiscal year will be spent as of Sunday," Boehner, R-Ohio, said. With the fiscal year ending Sept. 30, he said, "everything that happens after Sunday through ... the balance of this fiscal year is going to have to be borrowed from our kids and grandkids."

Boehner penned a column, posted on his Web site, blaming the early Debt Day on an "arrogant culture of spending" and the Obama administration's "borrowing binge."

"In short, about halfway through Fiscal Year 2009, Washington has run out of money," he wrote.

The staggering budget deficit, projected to hit as high as $1.8 trillion by the end of the year, is due to a combination of symptoms.

The Congressional Budget Office's monthly budget report for March, released early this month, showed the federal government has seen both a loss in revenue and a spike in spending. The report showed revenue fell by about $160 billion, or 14 percent, below its 2008 level for the first half of the fiscal year -- and spending rose to $1.9 trillion, about one-third over the 2008 level at that halfway point.
 

Tam

Well-known member
Don't worry Obama has it covered. It you listen very close in the quiet of night that hum you hear is not bugs it is the Washington DC printing presses. :wink:
 

Larrry

Well-known member
Don't worry Obama has it covered. It you listen very close in the quiet of night that hum you hear is not bugs it is the Washington DC printing presses.

Question for you, is he printing money or maybe a birth certificate?
 

hypocritexposer

Well-known member
I hope he does print a new one up, then we can get into the constitutional debates.

He won't win that one! It's hard to use something as evidence, you don't believe in.

Right Badaxe?
 

Tam

Well-known member
Larrry said:
Don't worry Obama has it covered. It you listen very close in the quiet of night that hum you hear is not bugs it is the Washington DC printing presses.

Question for you, is he printing money or maybe a birth certificate?

My guess is both. But I have heard practice makes prefect so maybe the new BC will be better than the photoshopped one he tried to pass off the last time. He sure has had enough time to prefect the look including the aging process. :wink:
 
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