The problem continues to be growth of spending. The old entitlement programs are growing faster than the long term growth rate of the economy, and that makes it impossible to grow revenues fast enough to keep up. Adding ObamaCare only makes it worse.
WASHINGTON (AP) — Figures on government spending and debt (last six digits are eliminated). The government's fiscal year runs Oct. 1 through Sept. 30.
|Total public debt subject to limit May 23||16,698,697|
|Statutory debt limit||16,699,421|
|Total public debt outstanding May 23||16,736,577|
|Operating balance May 23||16,345|
|Interest fiscal year 2013 through April||147,814|
|Interest same period 2012||145,702|
|Deficit fiscal year 2013 through April||487,594|
|Deficit same period 2012||719,859|
|Receipts fiscal year 2013 through April||1,603,334|