Treasury Reports 38th Straight Month of Deficits

Supercommittee members, from left, Sen. Jon Kyl, R-Ariz., Sen. Max Baucus, D-Mont., Sen. Rob Portman, R-Ohio, and Sen. John Kerry, D-Mass., take part in a hearing on Capitol Hill in Washington, Wednesday, Oct. 26, 2011, where Congressional Budget Office (CBO) Director Douglas Elmendorf testified. (AP Photo/J. Scott Applewhite)
(CNSNews.com) – The Treasury Department has released spending and income data showing that the federal government has now run a deficit for the 38th consecutive month.
According to its monthly Treasury Report, the federal government ran a $137 billion deficit in November, the 38th straight month it has done so.
Since the beginning of its fiscal year – Oct. 1, 2011 – the government has run up a $236 billion deficit. In total, Treasury estimates that the government will run a $1 trillion deficit this fiscal year – from October 2011 to Sept. 30, 2012.
Gretchen Hamel, executive director of Public Notice – a conservative activist group – said that reports of multi-billion deficits had become all too common in Washington, D.C.
“Sadly, in the nation’s capital, this report has become routine. The American people, however, should be outraged by this latest evidence of Washington’s total lack of accountability and regard for hard-earned taxpayer dollars,” Hamel said in a press release.
“As the year winds down, Americans will look back and try to see what worked and what didn’t, and resolve to do better in the New Year. Let’s hope Congress recognizes that 2011 has been a fiscal disaster and that it must do better in 2012.”




