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It grew by nearly $100 billion on last day of fiscal year, According to Treasury Direct it grew by $1.64 Trillion in the last year. Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding 09/29/2010 8,963,900,445,439.19 4,502,371,965,926.43 13,466,272,411,365.62 09/30/2010 9,022,808,423,453.08 4,538,814,607,438.71 13,561,623,030,891.79

President Barack Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year, but would push the red ink down to about $700 billion, or 4% of the gross domestic product, by 2013, according to congressional aides. The deficit for the current fiscal year, which ends on Sept. 30, would eclipse last year's $1.4 trillion deficit, in part due to new spending on a proposed jobs package. The president also wants $25 billion for cash-strapped state governments, mainly to offset their funding of the Medicaid...

Note: The following text is a quote: Home • Briefing Room • Statements & Releases The White House Office of the Press Secretary For Immediate Release December 21, 2009 Statement by the Press Secretary on H.R. 3326 On December 19, 2009, the President signed into law: H.R. 3326, the “Department of Defense Appropriations Act, 2010,” which provides FY 2010 appropriations for Department of Defense (DOD) military programs including funding for Overseas Contingency Operations, and extends various expiring authorities and other non-defense FY 2010 appropriations.

Revenue shortfalls lead to new budget gaps only three weeks into the new fiscal year. States are forced to make more painful budget cuts.NEW YORK (CNNMoney.com) -- The bad news about state budgets just keeps getting worse. Only three weeks into the new fiscal year, gaps are already opening up. And the shortfalls are only expected to grow. "If you think legislators are breathing a sigh of relief because their budgets are passed, think again," said William Pound, executive director of the National Conference of State Legislatures. State legislators and governors had to contend with deficits totaling $142.6 billion as...

Raising taxes on oil companies by increasing the amortization period of G&G expenditures make the U.S. product less competitive globally.