Federal Government Budget Deficit in October is Three Times the Annual Budget Deficits of the Banana Republic of California.

California has been the poster child of ineffective state government. Bickering politicians, constant spending, and budget deficits that baffle the economic bottom line. But California isn’t alone in this spend more than you earn reality. Last year, California had to patch up $60 billion in budget deficits. A large and historical sum no doubt. Yet the federal government ran a $176 billion deficit in one month alone! In October the federal government brought in $135 billion in revenues (taxes) and spent $311 billion. This is not the kind of math you want to be seeing. (more)