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CBO: Feds Borrowing $4.8 billion Per Day in FY 2013, So Far By Matt Cover

Submitted by emalvini on Fri, 12/07/2012 - 21:59

Economy

CBO: Feds Borrowing $4.8 billion Per Day in FY 2013, So Far
By Matt Cover

December 7, 2012

(CNSNews.com) – The federal government ran a deficit of $292 billion for the first two months of fiscal year 2013 – October and November 2012 – amounting to $4.8 billion of borrowed money each day.

“The federal budget deficit was $292 billion for the first two months of fiscal year 2013, $57 billion more than the shortfall recorded in October and November of last year,” CBO said in its Monthly Budget Review Friday

So, that'll be $ 1.75 trillion for fiscal year 2013

Submitted by Cyril on Fri, 12/07/2012 - 23:38. Permalink

Interesting article. Amusingly enough, it forgot to do the maths :

"$" 4.8 bn x 365 = "$" 1,752 bn.

1,752 billion "dollars" = 1.75 trillion "dollars".

"$" 1 , 7 5 2 , 0 0 0 , 0 0 0 , 0 0 0 ... for fiscal year 2013 ALONE

... added to existing debt.

(and assuming this 4.8 bn per day average ... doesn't rise)

—

My name's pronounced like "see real". Its root is "Lord".

"The demand of a great people is always at the scale of its most serious misfortunes." --De Gaulle

http://Laissez-Faire.Me/Liberty

Good work calculating what the MSM will not tell us.

Submitted by SteveMT on Fri, 12/07/2012 - 23:51. Permalink

Adding that number to the existing debt of $16.3T will = nearly $18T
http://www.usdebtclock.org/

You know what they say about a $T here and a $T there. More war is just around the corner with these kind of deficits. Ugh!

Well, if you like looking closer at some figures

Submitted by Cyril on Sat, 12/08/2012 - 00:04. Permalink

Well, if you like looking closer at some figures ... you'll absolutely LOVE what Bob-45 has linked to, and what's at my own comment, there :

http://www.dailypaul.com/265613/here-is-the-gold-market-in-o...

Very current.

Despite the atrociously rampant globalist enslavement, there is also, I believe, a planting of the seeds for a formidable transfer of wealth back to the honest, working people who has been waking up before too late - thank Ron Paul and precious metals (a transfer, yet to fully develop, granted).

—

My name's pronounced like "see real". Its root is "Lord".

"The demand of a great people is always at the scale of its most serious misfortunes." --De Gaulle

http://Laissez-Faire.Me/Liberty