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


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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