Fiscal Year 2013 Budget Deficit | Breaking It Down
The Congressional Budget Office announced yesterday the budget deficit for the first 10 months of fiscal year 2013 totaled $606 billion. Today in “Breaking It Down” we put that number in context.
- $606 billion is nearly triple the amount ($213 billion) the federal government has received in corporate tax payments so far this fiscal year.
- $606 billion is nearly $150 billion more than the federal budget deficit in fiscal year 2008 ($458.5 billion) – in the middle of the Great Recession.
- $606 billion is slightly less than the amount ($611 billion) the White House expects to spend on all non-defense discretionary spending this fiscal year.
- $606 billion is more than the amount ($592 billion) NASA, the National Science Foundation, the Departments of Energy, Interior, and State and the Small Business Administration are expected to spend over the next five years.