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

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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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