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

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

Read more: http://cnsnews.com/news/article/cbo-feds-borrowing-48-billio...



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Cyril's picture

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

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)

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

SteveMT's picture

Good work calculating what the MSM will not tell us.

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!

Cyril's picture

Well, if you like looking closer at some figures

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).

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

A nation of sheep

led by wolves