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.
