The government likely recorded $953 billion in red ink from October through March including $290 billion for the Troubled Asset Relief Program, or TARP, which was to provide much-needed cash to struggling financial institutions, the CBO said.
Receipts during the six-month period dropped about $160 billion, or 14 percent, over the same period in fiscal 2008. Nearly half of the drop, $73 billion, came from a fall in corporate income tax receipts.
The CBO, the nonpartisan budget analyst for Congress, said the drop in corporate receipts was the largest in more than three decades.
Yes indeed…change you can believe in.
When all is said and done, that little pile on my dresser is all the change I’ll have left …
And this doesn’t count all the dollars they’ve printed and debt they’ve take on.