Wednesday, August 13, 2008

Come on, Darryl ... you can do it.

Blogging Tory Darryl Wolk has one of those rare but adorable moments of BT lucidity:

Does anyone still think George Bush is a fiscal Conservative???

[U.S.] Budget deficit soars to $102.8 billion in July

Deficit is nearly triple that of July 2007.

WASHINGTON (AP) -- The government says the federal budget deficit soared in July, pushed higher by economic stimulus payments and $15 billion in outlays to protect depositors at failed banks.

The Treasury Department reported Tuesday that the deficit for July totaled $102.8 billion, nearly triple the $36.4 billion deficit recorded in July 2007.

The deficit beats the $97 billion gap that Wall Street economists had been expecting for July.

OK, now, Darryl, work with me:

[Canadian] Federal government runs $517M deficit in April, May

The federal government ran a deficit of $517 million over April and May [of 2008], the first two months of the current fiscal year, mainly due to lower corporate income tax and GST revenues.

Over the same time period last year, the government ran a $2.8 billion surplus

There's a pattern here, Darryl. I'll leave you to work it out on your own.

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