economyNews stories on August 19 reported that Neil Barofsky, Special Inspector General (SIG) of the U.S. treasury Department’s $700 billion Troubled Asset Relief Program (TARP), had agreed to audit the $301 billion of federal asset guarantees extended to Citigroup Inc. since last November.

piggy bankThe Obama administration is expected to release a report soon estimating that the 10-year budget deficit for the United States will be roughly $9 trillion, up approximately $2 trillion from the previous projection of $7.108 trillion, Reuters reported on August 21.

Senator GreggAccording to Senator Judd Gregg (R-N.H.), the United States is on its way to becoming a “banana republic” within 10 years.

out of moneyAccording to the latest figures from the U.S. Department of Commerce, Americans’ personal incomes dropped 1.3 percent in June, the biggest drop in four years.

Item: President Barack Obama, reported the Bloomberg news agency for July 11, “said his $787 billion stimulus bill ‘has worked as intended’ as he pushed back against Republican criticism that his recovery program has failed to rescue the economy.”