Tuesday, April 21, 2009

US Dollar collapse and Gold: US Budget deficit for March rises to $192.27 billion. HUI, XAU, TNR.v, RMK.v, CGH.to, SBB.v, RVM.to, MGN, FVI.v, ASM.v

Bearish Flag is forming on a Daily chart, Slow STO is at Sell, Double Top weekly reversal is converting into Head and Shoulder reversal formation on daily chart. RSI is close to Sell level.
USA is firmly on track to Two Trillion deficit this financial year, how long "stupid foreigners" with Two Trillion reserves are going to finance it?


US Budget deficit for March rises to $192.27 billion 4/11/2009 7:38 AM ET

TOP MARKET NEWS
(RTTNews) - The U.S Treasury Department, on Friday, released the budget details for March 2009 showing a deficit of $192.27 billion, sharply higher than budget deficit of $48.8 billion reported in the corresponding period last year. Economists and Market analysts were expecting the budget deficit to clock $150 billion for the month. Total spending during the month was $329.3 billion, while total revenue for the month declined 28% to $129 billion, the report noted. For the first six months ended 31 March 2009, the budget deficit has reached $956.8 billion, sharply higher than a budget deficit of $313 billion reported for the corresponding six-month period last year. Government spending during March 2009 increased by $94.2 billion over the same period last year. Under the Troubled Asset Relief Program, the US Government had spent $2.9 billion during March 2009, the report revealed.
For the six-month period ended March 31, tax revenues declined 13.6% to $989.8 billion over the same period last year. Corporate tax receipts for the period declined sharply to $56.2 billion from $129.5 billion reported in the same period last year. Income tax collections from individuals during the first half of fiscal 2009 declined 15% to $429.7 billion from $503.5 billion reported in the same period last year.Benefit payments from the unemployment trust fund for the first six months increased to $44.6 billion, compared to payments of $19.6 billion during fiscal 2008.The report revealed, for the six-months ended 31 March 2009, spending by Defense Department rose to $331.7 billion from $308 billion spent during the same period last year. The Department of Health and Human Services, which oversees the health programs, has spent $156.2 billion during the six-months ended 31 March 2009, higher than $137.6 billion reported in the corresponding six-month period last year. Spending for security by the Social security Administration was $324.2 billion, up 7.3% over the same period last year, the report noted.

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