Rick Santelli's Chicago Tea Party

Govt. runs first April deficit since 1983 Posted: 12 May 2009 12:04 PM PDT Despite April being tax month, the Federal Government ran a budget deficit for the first time in 26 years.  Many blame a massive surge in government spending, more corporate bailouts, and rising unemployment for the lackluster tax receipts.  Last year, despite a $450 billion budget deficit, even the Bush administration and a Democratic Congress were able to generate a sizeable surplus in April. To be fair, however, while the Obama administration and current Democratic Congress have accelerated the pace of deficit spending to dizzying levels, the Bush administration, in conjunction with a Democratic led Congress, passed over $700 billion in government bailouts.  The Bush administration supported these gargantuan bailouts, McCain and Obama voted for them, and a whole lot of other Democrats and Republicans voted for them as well.  There’s plenty of blame to go around. Read here.

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