Monthly snapshot: federal spending & the economy

December 15, 2011

Every month we put together a snapshot of federal spending and the economy as a go to resource for top line numbers when we need them quickly. Often on the blog we go into more depth on these numbers as the latest figure is released – unemployment, deficit, etc.

We thought this would be a good resource for our audience to have as well. After all, knowledge is power. Plus, this makes our job a little easier – it’s hard to deny the government is overspending and that overspending has serious consequences when the numbers make that all too clear. Check it out below or click here to download your own copy.

MONTHLY SNAPSHOT:
FEDERAL SPENDING & THE ECONOMY December 2011

All Data As of Monday, December 12, 2011

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 reach across the aisle, work together, and enact lasting change.

National Debt: $15.05 trillion

Debt per American: $48,133 (312.6 million Americans)
Debt per Household:
$133,626 (112.6 million households)
Net Interest on the Debt:
$49.5 billion (first two months of fiscal year 2012); $454.4 billion (fiscal year 2011)

Federal Budget Deficit:

November 2011 Budget Deficit: $137.3 billion
Fiscal Year 2011 Budget Deficit:
$1.297 trillion
Fiscal Year 2010 Budget Deficit:
$1.294 trillion (final)
Consecutive Months of Budget Deficit:
38
Highest Monthly Deficit on Record:
$223 billion in February 2011

Federal Spending and Revenues:

Fiscal Year 2012, Revenues Through November: $316 billion, a 16.2% increase from FY 2011

Individual Income Taxes: $158 billion, a 16.2% increase from FY 2011
Social Insurance Taxes:
$121 billion, a 9.6% decrease from FY 2011
Corporate Income Taxes:
$4 billion, no change
Other (tariffs, excise taxes, fees,[1] etc.):
$33 billion, a 1.4% increase from FY 2011

Fiscal Year 2012, Outlays Through November: $553 billion, a 5.6% decrease from FY 2011

Defense – Military: $111 billion, a 10.1% decrease from FY 2011
Social Security Benefits:
$122 billion, a 3.3% increase from FY 2011
Medicare:
$64 billion, a 15% decrease from FY 2011
Medicaid:
$40 billion, a 16.2% decrease from FY 2011
Unemployment Benefits:
$16 billion, a 25.9% decrease from FY 2011
Other Activities*:
$155 billion, a 2.7% decrease from FY 2011
Net Interest on Public Debt:
$45 billion, a 12.4% increase from FY 2010
TARP:
net infusion of $39 billion.
Payments to GSEs:
$5 billion, a 87.2% decrease from FY 2010

Economic Growth:

3rd Quarter 2011: 2 percent growth (preliminary)
2nd Quarter 2011:
1.3 percent growth (final)
1st Quarter 2011:
0.4 percent growth (final)

Jobs & Unemployment:

November 2011 Unemployment Rate: 8.6 percent (latest available)
Unemployment Rate at end of 2010:
9.4 percent (December)
Jobs Created in November 2011:
120,000 (preliminary)

States With Top 5 Highest Unemployment Rates: October 2011 (latest available)

Nevada: 13.4 percent
California: 11.7 percent
Michigan: 10.6 percent
Mississippi: 10.6 percent
South Carolina: 10.5 percent

States With 5 Lowest Unemployment Rates: October 2011 (latest available)

North Dakota: 3.5 percent
Nebraska: 4.2 percent
South Dakota: 4.5 percent
New Hampshire: 5.3 percent
Vermont: 5.6 percent

Trade Deficit: $43.5 billion in October 2011 (latest available)

Home ownership Rate: 66.3 percent in 3rd Quarter of 2011 (latest available)

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