The fiscal year for the U.S. government begins in October. That means that as of March we were half way through the year. The deficit for the first six months was $956.8 billion.

To put that in perspective, the deficit for the first six months of 2008 was $312.75 billion and for the full year is was $454.8 billion. 

As you might expect, the problem is more going out and less coming in. Funds spent in the first six months of the year amounted to $1.95 trillion compared to $1.46 trillion for the six months of 2008. Receipts were $989.83 billion versus 1.15 trillion in 2008.

Keep in mind that we’re just beginning to spend the fiscal stimulus money and who knows what the banks are going to cost. Just some pleasant thoughts for your Easter weekend.

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