So the CBO projects that the deficit in FY2012 will be 973 billion, dropping to 510 billion in FY2013, and 265 billion in FY2014. We are not off to a promising start so far.
The national debt on 9/30 was 14.790 trillion and has increased to 14.942 trillion by 10/18. So it has increased by 152 billion in only 18 days. This means the deficit for the rest of the fiscal year will be only 821 billion. Unless the CBO has vastly miscalculated.
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