Wednesday, January 12, 2022

The budget deficit in December was $20 billion

 The federal government incurred a deficit of $20 billion in December 2021, CBO estimates— $123 billion less than the deficit in December 2020.  https://www.cbo.gov/system/files/2022-01/57667-MBR.pdf

Wow, that's some unexpected good news.  Why is it so low?

CBO estimates that receipts in December 2021 totaled $486 billion—$140 billion (or 41 percent) more than those in the same month last year.  Total spending in December 2021 was $507 billion, CBO estimates—$17 billion more than in the same month last year.

So taxes are higher.

Monday, January 3, 2022

Debt to the Public hits $23 Trillion

 As of 12/30/21, the last business day of 2021, Debt to the Public was $23.033 trillion.

The Debt to the Public was at $22 trillion on 4/29/21, $21 trillion on 9/30/2020, $20 trillion on 6/3/2020, $19 trillion on 4/30/2020, $18 trillion on 4/7/2020 and $17 trillion on 11/7/2019.

We can expect it to increase by one trillion about every 6 months.

The total debt, which includes intragovernmental debt, is at $29.494 trillion, but should hit $30 trillion within a couple of months.