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The Latest Figures on Government Spending and Debt Are as Bad as You'd Expect
November 21, 2012
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 TrillionStatutory 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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