Monthly SnapShot: Federal Spending & the Economy

Budget & Economic Facts: September Edition

The numbers say it all: Washington has spent its way into a fiscal crisis. This unsustainable habit will have consequences on future generations unless Congress can work together and enact lasting change.

State of the Federal Debt

National Debt: $16.06 trillion(source)

Debt per American: $51,071(source)

Debt per Household: $140,586(source)

Net Interest on the Debt: $343.1 billion (first 11 months of fiscal year)(source)

State of the Budget

Budget Deficit (September): $190.5 billion(source)

Budget Deficit (FY2012 to Date): $1.164 trillion(source)

Budget Deficit (FY2011): $1.297 trillion(source)

Consecutive Months of Budget Deficit: 4(source)

Revenue (Fiscal Year to Date): $2.188 trillion(source)

Spending (Fiscal Year to Date): $3.354 trillion(source)

State of the Economy

Economic Growth: 1.7 percent (second quarter preliminary)(source)

Trade Deficit: $42.0 billion (July 2012)(source)

Unemployment: 8.1 percent (August 2012)(source)

Jobs Created in 2012: 1.114 million (first eight months of 2012)(source)

States with the Highest Unemployment (source):NV (12.0 percent), RI (10.8 percent), CA (10.7 percent), NJ (9.8 percent), NC, SC (9.6 per cent)

States with the Lowest Unemployment(source):ND (3.0 percent), NE (4.0 percent), SD (4.4 percent), OK (4.9 percent), VT (5.0 percent)

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