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Finance

The Latest Figures on Government Spending and Debt Are as Bad as You’d Expect

Nov. 21, 2012 9:00pm Jason Howerton

The Treasury Department on Wednesday released the latest figures on government spending and debt. As you can imagine, things haven’t exactly improved since last we looked at these numbers [the government's fiscal year runs Oct. 1 through Sept. 30]:

Total public debt subject to limit Nov. 20: $16.2 Trillion

Statutory debt limit: $16.3 Trillion

Total public debt outstanding Nov. 20: $16.2 Trillion

Operating balance Nov. 20: $23.4 Billion

Interest fiscal year 2012 through October: $24.6 Billion

Interest same period 2011: $24.6 Billion

Deficit fiscal year 2012 through October: $119.9 Billion

Deficit same period 2011: $98.4 Billion

Receipts fiscal year 2012 through October: $10.8 Billion

Receipts same period 2011: $7.5 Billion

Outlays fiscal year 2012 through October: $304.3 Billion

Outlays same period 2011: $261.5 Billion

Gold assets in November: $11 Billion

Oh, also, it’s worth noting that the federal government kicked off the 2013 budget year with a $120 billion deficit in October, a $22 billion increase from this time last year.

Translation: The U.S. is well on its way to its fifth straight year of $1 trillion-plus deficit.

Happy Thanksgiving!

The Associated Press contributed to this report.

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Comments (30)

blackhawk56
Posted on November 23, 2012 at 7:29pm
I too, am one of the “We the People” and I stand ready!!!!!

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brian9711
Posted on November 22, 2012 at 8:42pm
I just have 1 question: Once Amnesty is granted to millions of “illegals”, how much will Obamacare cost then? Initially he stated that illegals were NOT covered, but once amnesty kicks in, I am assuming they will all be covered… So… Who pays for all this extra expense? Ok, 1 more question: How many 10′s of thousands of employees will be limited to less than 30 hours starting 1/1/2013 ? Based on what I am reading, a LOT! That will suck, it reduces workers hours (and pay) and also requires them to pay a health care fee (even though working less hours!)…. 4 more years, OUCH!!

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BHOHG2G
Posted on November 22, 2012 at 1:26pm
I hope Romney is laughing his ass off. He and obomba fought to see who would eat the s**t sandwich. And o won . It just goes to show that stupid people really like other stupid people.

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demorepublicrap
Posted on November 22, 2012 at 8:17am
And I approve this message! Be prepared .

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CHARACTER MATTERS
Posted on November 22, 2012 at 8:03am
I too, am one of “We the People”!

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Black Horse
Posted on November 22, 2012 at 7:41am
As am I. And, we stand ready…

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80mesh
Posted on November 22, 2012 at 7:11am
its only money …

read fresh political commentary at http://www.theantiliberalzone.com/

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- KURT1010
  Posted on November 22, 2012 at 10:18am
  Right, if I write a check with NO money in the bank I go to jail !
  
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Serenabit
Posted on November 22, 2012 at 2:44am
The truth about what must be done, and what is happening in the United States as well as the rest of the world is listed at http://www.nathanbeman.blogspot.com

Come on people, lets change the narrative to address the real problems and implement the REAL solution.

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- Jesse_J
  Posted on November 22, 2012 at 5:53am
  There will be no soluion as long as Democrats are anywhere near the levers of power. Read fresh political commentary at: http://smallcraftadvisorychronicles.blogspot.com/
  
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banjarmon
Posted on November 22, 2012 at 12:41am
I am ONE of …. WE The PEOPLE!!!!

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crusaderx9
Posted on November 21, 2012 at 11:05pm
A second obama term means we start over. The oppressor and minions will destroy what is left of America and target anyone who thinks they have God given Rights.

Be ready.

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the_truth_or_not
Posted on November 21, 2012 at 9:37pm
And all them POS’s that actually believed him when he said in the third debate we have the economy under controll, now we need to focus on spending. LOL I bet they didnt realize he meant more of it.

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- DAS_MOOCH
  Posted on November 21, 2012 at 9:49pm
  But when Obamacare kicks in they are going save money. Many new Dr’s are in training now to practice under govt & Obama guidelines.
  
  http://www.youtube.com/watch?v=mDFs6o6UrzI
  
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- the_truth_or_not
  Posted on November 21, 2012 at 10:35pm
  DAS_MOOCH
  LOL I was getting ready to ask you if you were alright and needd to see a Dr. That Obamacare would save money, and then something told me to watch the vid. I am glad I did. That was hilarious, I LOVED IT!
  
  Now, to another serious point of Obamacare. I am in the Benefits Administration profession. I have been seeing multiple well known companies who offered fairly decent medical packages gut their insurance plans to go instead with high deductables. Other companies, closing the doors cause they will no longer stay competative in 2014. And other companies just drop benefits in their entirety.
  
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- rickc34
  Posted on November 21, 2012 at 11:40pm
  Das mouch- loved it .would like to try that form of medicine on a few people in DC.
  
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Do The Right Thing
Posted on November 21, 2012 at 9:33pm
Every time I see these numbers, I hang my head in mourning for the once beautiful and powerful country in which I grew up. I have always worked hard and owe only on my home. Politicians are supposed to work for we the people, Marxists are very insidious, and infect like a virus. What ever happened to Kennedys’ speech about asking what you can do for your country?

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- Dushman Kush
  Posted on November 21, 2012 at 10:16pm
  NONE DARE CALL IT TREASON was authored by John A. Stormer in 1964. MASTERS OF DECEIT was authored by J. Edgar Hoover in 1958. My Father gave me both books in 1964. I was twelve years old at the time, and I fully comprehended that America had been taken over from within….Without a single shot being fired, as Comrade Nikita Khrushchev had foretold it. If you want to know how our Republic was ended, read those two books.
  
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soybomb315_II
Posted on November 21, 2012 at 9:29pm
according to heritage, federal government spending decreased last year and govt is spending less than 2008 & 2009. Gotta keep tightening the screws – keep pressure on republican party to put pressure on govt

http://www.heritage.org/research/reports/2012/10/federal-spending-by-the-numbers-2012

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thibx
Posted on November 21, 2012 at 9:24pm
they don’t care. no big deal to them.

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Dushman Kush
Posted on November 21, 2012 at 9:23pm
Steve Schmidt is on C-SPAN telling the public what a fine job both the Democrats and “Republicans” have done for America. I couldn’t handle the puke in my mouth. Those Bush boys were the worst two Presidents in American history. The first one was a New World Order sellout and 100% for the Torture of Freedom, the second one joined his Communist pal Tony Blair to complete the Collapse of the Republic of the United States of America. Happy Thanksgiving to all the Comrades here on the Blaze.

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- Do The Right Thing
  Posted on November 21, 2012 at 9:41pm
  That is pretty vile stuff there, bud, I’m thinking about clinton, even carter. Clinton and NAFTA, for a single example. Carter for his woe is me woe is us attitude. I am not making a grand effort to defend any of our corporate government leadership, but good grief, think like an American, not a parrot. Its about the USA, not the Bush family…
  
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- the_truth_or_not
  Posted on November 21, 2012 at 10:52pm
  @ DO THE RIGHT THING
  
  Now, I agree the Clintons, and Carter were both bad for the Country and definately progressives to put it mildly, their rule has definately hurt the U.S.. Now that does not mean there are not republicans that arent just as bad for this country. I dont know if we have gone to a communist society yet, but we definatly are headed that direction. Dushmans assesment about the Bush’s was spot on.
  
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kindling
Posted on November 21, 2012 at 9:19pm
one MILLION second equals 12 days.
one BILLION seconds equals 32 years.
one TRILLION seconds equals 32,000 years.

Now for all you progressives that have gone to college and don’t know the point of this…..it really doesn’t have anything to do with time…..it is about relative size of numbers. I have this written on the back window of my Tahoe and have people ask ALL THE TIME what it means. I just say…think about dollars instead if seconds. Their jaw ALWAYS drops.

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- breiten
  Posted on November 21, 2012 at 10:26pm
  for your numbers, if we tried to pay back 1 Trillion a second, it would take 32,000 years, but still have 15 Trillion to pay off, so a lot more years than a society can exist. Basically the numbers indicate a Fiscal Free Fall, ie are already falling without a parachute, but the govt and media are saying we are just about at the “cliff’”.
  
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- BHOHG2G
  Posted on November 22, 2012 at 1:35pm
  I agree that people don’t comprehend how enormous billions and trillions really are. Everyone in gvt and the media should have to actually type out alllll those zeros every time the numbers are put on screen or paper. Not just a letter “b” or ” T”. After awhile the scope of it might just sink in.
  
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burke
Posted on November 21, 2012 at 9:13pm
Send in the seals to get rid of Obama, we can’t keep doing this.

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- kindling
  Posted on November 21, 2012 at 9:21pm
  NA…..we don’t need to dirty their hands…..just send Obama and all his cronies to Benghazi to investigate what happened there and don’t send any protection because he doesn’t think any is needed.
  
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BlackCrow
Posted on November 21, 2012 at 9:07pm
Who cares? Just a few keystrokes by some clerk in some office building can wipe it all out. At least that seems to be the opinion of the idiots who vote for the Communists time after time after time.

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gyro
Posted on November 21, 2012 at 9:06pm
Happy Thanksgiving! From the free west in Canada

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