U.S. On Its Way to Fifth Year of Trillion Dollar Deficits

November 13, 2012

Media Contact: Public Notice Press Office | 571.970.6490 | Press@ThePublicNotice.org

U.S. On Its Way to Fifth Year of Trillion Dollar Deficits

Arlington, Va. – The U.S. is on its way to a fifth straight year of trillion dollar deficits, as indicated by today’s statement from the Treasury Department showing a $120 billion deficit for the month of October. The government collected $184.3 billion in receipts and spent $304.3 billion in October.

“After four years in the red, you’d think Washington would’ve learned how to budget by now,” said Public Notice Executive Director Gretchen Hamel. “Our policymakers just don’t seem to understand basic math. We all know spending at this rate is dangerous and unsustainable. This Treasury statement is another warning sign on the road to the fiscal cliff, and right now Washington is putting the pedal to the metal.”

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