Posts Tagged ‘revenue’
California on the Brink: Fiscal Emergency Declared, Deficit Sky Rockets, S&P Downgrade
Thursday, December 11, 2008 15:01 No CommentsGov. Arnold Schwarzenegger has revised his previous estimated budget shortfall of $11.2 billion to $14.8 billion for the fiscal year. California’s budget deficit now predicted to hit $41.8 billion within 18 months.
Schwarzenegger attributes the deficit to the collapsing economy. Sales throughout the state have plummeted as has both personal and corporate tax revenues. The governor [...]
Mind Boggling – The True Cost of The Bailout
Monday, December 1, 2008 18:23 11 CommentsAt $8.5 Trillion already pledged by the US Government, the 2008 bailout of the financial sector has become largest single expenditure ever assumed by the US Government (Or any government). Just how large you ask? We’ve now exceeded the total cost of World War 2, The New Deal, Korean War, Iraq Invasion, Vietnam, The Louisiana [...]
$7.7 Trillion and Counting
Monday, November 24, 2008 19:26 No CommentsThe U.S. government is ready to provide $7.7 trillion of American taxpayer money after guaranteeing $306 billion of Citigroup Inc. debt yesterday. These pledges amount to HALF OF US GDP and almost four times the amount the Government receives in tax revenue per year.
The US dollar sold off on the news as gold spiked [...]
