department aren t making the situation better. christine romans is in the business center with the numbers. christine, the market s doing great. but does anyone care about deficits anymore? yeah, let s look at these eye-popping deficit numbers. lawmakers are running out of time to raise the u.s. debt ceiling. and frankly, wall street doesn t seem to be paying attention at all. the budget deficit is now $741.1 billion jumping 23% in the first nine months of the fiscal year. federal spending also hit records for the same period. the government is spending so much more money than it brings in. the deadline is fast approaching too. this week the bipartisan policy center said the u.s. government could default on debt in september. they reached the debt limit in march. since then the treasury department has been using what it calls extraordinary measures to pay bills, move the money around. and the calendar is a mine field
the market is strong. taking a look at stocks since president trump s inauguration. the dow is up 36%. the s&p up 32%. look at the nasdaq, whoa, up almost 48%. on the tech front there are now two $1 trillion companies in the stock market. amazon joined it thursday. eye popping deficit numbers as the debt crisis looms. the deficit stands at $741.1 billion. jumping 23% in the first nine months of the fiscal year. federal spending and revenue also hit records for the same period. a number of factors are driving the increase including the president s trillion dollar tax cut in 2017 and a very big spending package. those numbers paint a dark picture for the government as the government runs short on borrowing right now. adapt or be left behind. in a world of advanced robotics,
all the liberals who have given us the longest unemployment and the highest gas prices in history, they don t seem to get it. they seem to want to punish the people who we want to encourage. greta: i don t consider it punishment when somebody s getting special treatment and a break. i am not talking about the tax rate. i am talking about the fact that the oil companies have huge tax breaks that the rest of us can t have any use for or don t get. but let me give you an example. exxon mobil, $41.1 billion is their profit from 2010, up 35%. shell, $30.9 billion in profit, up 54% from 2010. what in the world do they need tax breaks for? they seem loaded! well, first of all, the most tax breaks that the president s trying to take away don t go to those companies. most of the tax breaks go to the nptds who do 85 or 90% of the
left and right. forgive minute. pakistan started this whole ball rolling. $20 billion for what? they weren t helping us find osama bin laden apparently. and now we hear egypt getting forgiveness. syria, we re still sending money to. these countries are fighting within and here at home, we have 9% unemployment and i think we could use the money here. cheryl: we re talking about billions of dollars here. $41.1 billion for fiscal year 2011 2012, $37.6 billion has been requested. this when we re sitting on trillions in debt. i have a slightly different take on this. i m not worried so much about the fiscal part of it as i am saying that i think all foreign aid should be an instrument of foreign policy. and you ve got to identify, therefore, how it s used and who it s used for and for what purpose. it s got to be to help the good old usa. i don t care what it is, whether we make them pay it back, whether however we use it, it should be an instrument just
us the longest period of high unemployment since the great depression, the highest gas prices in history, they don t seem to get it. they keep wanting to punish the people we want to encourage. i want companies producing more oil, not less. i don t consider it punishment when someone s getting special treatment and a break. i am not talk about this tax rate. i am talking about the fact that the oil companies get tax breaks that the rest of us can t have any use for, or don t get. let me give you an example. exxon mobil, $41.1 billion, up from 2010 by 35%. another one, shell, $30.9 billion, up 54% from 2010. what in the world do they need tax breaks for? they seem loaded itch first of all, the most tax breaks that the president s trying to take away don t go to those qusm companies. most of the tax breaks go to the independent who is do 85 or 90%