Federal Government Will Borrow 40 Percent of the Money It Spends Next Year, Says White House Report
By Matt Cover
August 28, 2009According to the Obama administration's mid-session budget update, the federal government will have to borrow nearly 40 percent of its total expenditures in 2010.
How Much of Federal Spending is Borrowed for Every Dollar?Data from the Office of Management and Budget’s FY2012 budget shows that 43 cents of every dollar spent in 2011 is borrowed. This fact alone propels our current fiscal state further along the historical trend of budgetary deficits. As the critical debate over the debt ceiling continues, the amount of spending that is borrowed should be put in proper perspective. This makes all the difference in addressing the underlying habits driving our current deficit.
C) OUT OF CONTROL:
Hyperinflation Watch - December 19, 2011
More Deficits, More Debt|
December 19, 2011 – In the first two months of the current fiscal year that began on October 1st, the US national debt has grown $320 billion. That is $21 billion more than the same 2-month period last year, which illustrates that the growth of the national debt continues to accelerate. The reason of course is the federal government’s huge operating deficit, which is not getting any smaller.