Debt-Flicks: National Treasure

| June 12 2013

 

Debt-Flicks: National Treasure

In advance of today’s Treasury Statement at 2:00pm, Bankrupting America took a look back at how current deficits stack up to past years and previous administrations.  The numbers paint a clear picture. It’s not a lack of revenue; Washington has a spending problem.

BACKGROUND FOR THE MAY 2013 MONTHLY TREASURY STATEMENT

 

Annual Surplus/Deficit:

Compared To The Last Year In Which The Federal Government Ran A Budget Surplus, Real Revenue Will Have Increased By 8 Percent By The End Of Fiscal Year 2013, While Real Spending Will Have Increased By 42 Percent. (“Budget Of The United States Government, Fiscal Year 2014,” Office Of Management And Budget, 4/10/13; “Consumer Price Index,” Bureau Of Labor Statistics, Accessed 6/11/13; “Updated Budget Projections: Fiscal Years 2013 To 2023,” Congressional Budget Office, 5/14/13)

 

The Budget Deficit For Fiscal Year 2013 Is Estimated To Be $642 Billion, An $810 Billion Swing From The Last Budget Surplus. (“Budget Of The United States Government, Fiscal Year 2014,” Office Of Management And Budget, 4/10/13; “Consumer Price Index,” Bureau Of Labor Statistics, Accessed 6/11/13; “Updated Budget Projections: Fiscal Years 2013 To 2023,” Congressional Budget Office, 5/14/13)

 

Monthly Surplus/Deficit:

All Ten Of The Top Ten Real Monthly Budget Deficits In The Past 33 Years Have Occurred Under President Obama. (“Monthly Receipts, Outlays, And Deficit Or Surplus, Fiscal Years 1981-2013,” Treasury Department, 5/10/13; “Consumer Price Index,” Bureau Of Labor Statistics, Accessed 6/11/13)

  • February 2010 Deficit (Millions, April 2013 Dollars): $237,003.
  • February 2012 Deficit (Millions, April 2013 Dollars): $236,631.
  • February 2011 Deficit (Millions, April 2013 Dollars): $233,790.
  • February 2009 Deficit (Millions, April 2013 Dollars): $212,440.
  • March 2009 Deficit (Millions, April 2013 Dollars): $209,443.
  • May 2009 Deficit (Millions, April 2013 Dollars): $206,212.
  • February 2013 Deficit (Millions, April 2013 Dollars): $203,859.
  • March 2012 Deficit (Millions, April 2013 Dollars): $200,869.
  • March 2011 Deficit (Millions, April 2013 Dollars): $195,786.
  • July 2009 Deficit (Millions, April 2013 Dollars): $195,094.

 

Real Average Monthly Deficit By President (April 2013 Dollars):

 

Real Average Monthly Deficit By President (Millions, April 2013 Dollars):

(“Monthly Receipts, Outlays, And Deficit Or Surplus, Fiscal Years 1981-2013,” Treasury Department, 5/10/13; “Consumer Price Index,” Bureau Of Labor Statistics, Accessed 6/11/13)

 

The Real Average Monthly Deficit Under President Obama Is Greater Than The Sum Total Of The Real Average Monthly Deficits Of His Four Immediate Predecessors. (“Monthly Receipts, Outlays, And Deficit Or Surplus, Fiscal Years 1981-2013,” Treasury Department, 5/10/13; “Consumer Price Index,” Bureau Of Labor Statistics, Accessed 6/11/13)

 

Real Average Monthly Deficit Of President Obama Compared To Predecessors

(“Monthly Receipts, Outlays, And Deficit Or Surplus, Fiscal Years 1981-2013,” Treasury Department, 5/10/13; “Consumer Price Index,” Bureau Of Labor Statistics, Accessed 6/11/13)

 

 

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