The government borrowing needs is increasing but Geithner says otherwise.
By Daniel at 12 November, 2009, 3:24 pm
Geithner says borrowing less than thought
http://www.marketwatch.com/story/dollar-edges-down-against-rivals-as-gold-soars-2009-11-12
quote:
The dollar held the line on gains against major counterparts Thursday, after U.S. Treasury Secretary Timothy Geithner said the government’s borrowing needs would be substantially less than expected.
“We are likely to have to borrow substantially less than we initially anticipated to help repair the damage to our financial system,” Geithner told CNBC in Singapore.
============================================
The deficit was higher than estimated
http://www.marketwatch.com/story/us-ran-deficit-of-176-billion-in-october-2009-11-12-140160
quote:
WASHINGTON (MarketWatch) — The United States federal government ran a deficit of $176 billion in October, the first month of the 2010 fiscal year, the Treasury Department reported Thursday. Receipts were $135 billion, the Treasury said, while outlays were $311 billion. The deficit was a little higher than a congressional estimate of $175 billion and marked the 13th consecutive monthly budget shortfall. A year ago in October the deficit was $156 billion.
Expenses $311 billion, income $135 billion, the difference is a DEFICIT of $176 billion.
People the deficits is higher than income aka receipts, if thats NOT BANKRUPTCY aka INSOLVENCY I don’t know what is.
No comments yet.