Green Fees

United States tax revenues hit a record high of almost $2.5 trillion (inflation adjusted and despite a first calendar quarter GNP that contracted by almost 3%) in the first ten months of fiscal 2014  … yet our spendthrift government still ran a deficit of over $460 billion for this same period … see: CNS News Item (including an interesting chart). Just extrapolating these income and spending rates would put the U.S. on track for a full year deficit of $553 billion. This compares unfavorably with an earlier Congressional Budget Office deficit projection of $514 billion … see: CNN Money Story.

Possibly a reason for this increased shortfall might be that just in the first three days of President Obama’s Martha’s Vineyard vacation our deficit grew by $7.6 billion (that’s $925 billion on an annualized basis) … see: Breitbart Item.

Then again, I do hear that the green fees are pretty steep at the Farm Neck Golf Club on the Vineyard.