Skip to comments.Congratulations Barry: 2012 budget deficit exceeds 2011 shortfall (Obama again the deficit champ)
Posted on 10/02/2012 9:26:44 AM PDT by SeekAndFind
It was close. A lot of us didn't think he could do it. But we should have realized by now that when it comes to spending money we don't have, Barrack H. Obama is the champion.
According to the U.S. Treasury, the debt of the U.S. government climbed by a total of $1,275,901,078,828.74 in fiscal 2012, which ended yesterday.
That means the federal government borrowed approximately an additional $10,855 for each household in the United States just over the past twelve months.
The total debt of the United States now equals approximately $136,690 per household.
In fiscal 2011, the debt increased by about $10,454 per household--$401 less than the $10,855 per household increase of 2012.
The $1.2758 trillion that the debt increased in fiscal 2012 was about $47.18 billion more than the $1.2287 trillion that the debt increased in fiscal 2011. The federal fiscal year begins on Oct. 1 and ends on Sept. 30.
At the close of business on Sept. 30, 2011, the total debt of the U.S. government was $14,790,340,328,557.15, according to the Treasury. At the close of business on Sept. 28, the last business day of fiscal 2012, it was $16,066,241,407,385.89
That meant the debt increased in fiscal 2012 by $1,275,901,078,828.74. At the close of business on Sept. 30, 2010, the debt had stood at $13,561,623,030,891.79. Over the course of fiscal 2011, it increased by $1,228,717,297,665.36 before closing at 14,790,340,328,557.15 on Sept. 30, 2011.
The fiscal 2012 increase of $1,275,901,078,828.74 exceeded the fiscal 2011 increase $1,228,717,297,665.36 by $47,183,781,163.38
Excuse me, math is not one of my strong subjects but shouldn't the budget deficit be, like, you know, going down every year instead of going up?
(Excerpt) Read more at americanthinker.com ...
We have a Congress full of fools, too.
When Mr. Obama took office the federal debt stood at 10.6 TRILLION.
He said he was going to cut that debt in half. Said it was unpatriotic to have such a huge debt.
The debt now? More than 16-TRILLION dollars.