Estimated November Deficit Hits $172 Billion
While November governmental receipts increased some $9 billion, spending increased by a whopping $44 billion according the CBO’s monthly budget estimate.
So far for fiscal year 2013, that brings the deficit to $292 billion.
The only way this fiscal madness will end is when the Republicans in the House simply refuse to raise the debt ceiling one penny without instant and substantial cuts in spending. None of this 10 years in the future “malarkey” we’ve seen in the past, but actual cuts across the board in the present. Of course, the Republicans will never do what is right for the country and they will allow the Democrats to continue this destructive course.
The final Treasury numbers should come out Monday or Tuesday, and I’ll post them when they are available.