BIG RED for the First Two Months of U.S. Fiscal 2010

You really have to be insane to hold long term U.S. bonds, at some point this dam breaks wide open. Think New Orleans after Hurricane Katrina, to the power of one hundred.

In October and November, the government spent $292 billion more than it took in, the nonpartisan Congressional Budget Office said, according to Reuters.

That was even worse than the same period last year, when the government was on its way to posting a record $1.4 trillion deficit for the fiscal year that ended Sept. 30.

he budget deficit was $176.4 billion in October, according to Treasury Department records, and the CBO estimated the deficit for November will have come in at $115 billion.

The CBO gave its figures in billions of dollars and said numbers may not add up to the totals because of rounding.

Receipts totaled $132 billion in November, the CBO estimated, down 9 percent from the same month last year. That was partly due to new legislation that gives increased tax write-offs to corporation