Debt to Rise $5,240 Per Household by End of September

Monday, 11 Jul 2011 02:27 PM

By David A. Patten

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Just keeping the federal government operational between now and the end of September will cost $616 billion — a staggering debt increase of $5,240 per U.S. household, according to a new report from the Congressional Budget Office (CBO).

That means that, even if President Barack Obama and Republicans, were to agree to cut half a trillion in federal spending in the next 80 days, politicos would have to make another $116 billion in cuts to avoiding adding more red ink to the national ledgers.

The analysis of CBO and Treasury Department reports was conducted by CNSNews.com.

The CBO also said Obama’s February budget proposal would have added $1.2 trillion to the national debt in 2012. The CBO projects this year’s budget deficit will reach $1.4 trillion.

There was some good news for voters, however: The projected 2011 deficit is now $81 billion less than the agency had anticipated in January, according to the CBO.


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

MagicJack Inventor Dan Borislow Dies at 52

Tuesday, 22 Jul 2014 16:25 PM

Dan Borislow, whose "MagicJack," peddled in television infomercials, helped pioneer free phone calls through the Interne . . .

To Fight Crime, Chicago Tries Wiping Away Arrests

Tuesday, 22 Jul 2014 14:58 PM

Desperate to curb the gun violence wracking their city, Chicago lawmakers are leading the way toward a counterintuitive  . . .

Mysterious White Flags Appear Atop Brooklyn Bridge

Tuesday, 22 Jul 2014 13:40 PM

Someone has replaced two American flags on the Brooklyn Bridge with mysterious white flags.The white flags - internation . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved