06.12.2012 0

Budget deficit double what it was last year

Our National DebtHow fast does the government spend money? Faster and faster with each passing moment. In May, the federal government spent $125 billion deficit for the month–more than double the amount it spent in May 2011.

As Fox Business reported:

So far this fiscal year, the budget deficit stands at $844.5 billion, narrower than at the same time a year ago.

Under the government’s accounting system, October is the opening month of fiscal 2012. During fiscal 2011 which ended Sept. 30, the budget deficit totaled $1.296 trillion.

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