Denninger: Weekend Round-Up
Read Denninger's post from this Saturday in full.
...Then there is our government and President who, if you remember, said that the huge deficit was all George Bush's fault - and that he "inherited" it.
Well, maybe not. $292 billion of red ink so far - in two months:
In October and November, the government spent $292 billion more than it took in, the nonpartisan Congressional Budget Office said.
That was even worse than the same period last year, when the government was on its way to posting a record $1.4 trillion deficit for the fiscal year that ended Sept. 30.
Right. That, by the way, annualizes to $1.752 trillion dollars. And you thought last year's fiscal deficit of $1.4 trillion was bad. This is 25% higher. Congratulations Mr. President.
Oh, who did you say was going to buy all that debt at ridiculously low rates again?
Good luck Mr. President.
You're gonna need it.